How the Internet of Behavior impact business

How the internet of behavior impact business

How the Internet of Behavior impact business

Today in this era use of the internet has enhanced a fundamental part of active life. In today's complex world, It is essential to study the potential customer's behavioral patterns. The collection of valuable information about customer behavior, interest, preferences, and tracking of regular habits is called the internet of behavior. This helps them understand and market new products, all from a human psychology perspective.

Examples of Internet of behavior
Image by Gerd Altmann from Pixabay 

Let's understand the usage of the web of behavior with some examples.

• Smartwatch which helps to track your routine activities
• Barcode scanner
• Smart cars providing the shortest route (maps)
• Control of air conditioner with the smartphone

Now how it collects, obtains there is the sensor embedded in all devices. Now, this sensor continuously emits data where it gathers and provides data on the Internet of Things (IoT) platforms.

Further, it collects big volume analytical data to perform or study user behavior.

Google, Facebook, or Amazon are some leading tech firms that use IoB.

What are the advantages and disadvantages of the Internet of Behavior

Advantages

• Understand potential customers buying patterns across all leading platforms.
• Solving problems quickly to drive more sales and keep customers happy.
• Helps to remarket the active users
• It helps to design user experience (UX), search experience optimization. (SXO)
• Derive more detailed information about where a potential customer is in the buying process.

Disadvantages

• More significant chances of getting data theft and personal information can be leaked
• It takes more challenge to manage and protect the vast volume of data
• It requires cybersecurity technology to stop crimes

Case study 1:

A company like BMC has developed a healthcare app for smartphones that helps to track sleep patterns, heart rate, diet, or blood sugar levels. 

This helps the end-user to alert on adverse situations based on the health performance and thereby suggesting the behavioral pattern to the end-users. 

Case study 2:

The IoT technology smartwatch carries out a vital role in the end-user day-to-day activities. When consumers use the smartwatch in a workout mode, it tracks the pulse rate of the end-user. This helps the user to receive warnings of drinking water wherever the heart rate strikes a certain level. This encourages the buyer to stay hydrated and cool down. Also, these benefits the company to receive valuable insights on how the watch works. 

Conclusion

The internet of behavior encourages the company to track the various activities of the end-user thereby providing innovative ways of promoting products and services. IoB technology is extremely profitable for the business so that they can develop a relationship with end-user as behavioral data continue growing.