Internet of Behaviour
Your online behaviour is a now a commodity
You are probably familiar with the Internet of Things (IoT) - the technology that connects electronic devices to the Internet and has created a vast variety of new data sources. If so, then let me welcome you to the next digital paradigm, and one of the top tech trends of 2021 - the Internet of Behaviour (IoB).
The IoB comprises an entire ecosystem of analytic processes that monitor, collate and decipher the vast swathes of data we generate through our online and internet activities. To do this it draws on data from existing technologies such as location tracking, big data and facial recognition. These technologies focus on the activities of individuals and monitor our behaviour, interests, choices and preferences. By understanding this data properly, the IoB seeks to apply that understanding to create and promote new products and new services that will entice, excite and inspire us.
The IoB already uses this data to influence how we act and respond. For example, in a recent case of the IoB in action, employees returning to their offices after a period of COVID-19 pandemic closure discovered that sensors were being used to find out if they were washing their hands regularly, and computer vision and speakers were monitoring and warning them if they were violating the company’s mask protocol. What is more, the IoB is here to stay, with estimates that by 2023, the individual activities of 40% of the world’s population – more than three billion people - will be tracked digitally in order to influence their behaviour.
Opportunities…and threats
Clearly, the IoB offers businesses and organisations a very powerful sales and marketing tool, one that enables them to analyse past performance in order to predict future behaviours. The data they collect through the IoB will allow them to plan future product and service developments, marketing activities and sales efforts more effectively. It also means that with real-time behaviour data, organisations will have the opportunity to make improvements to consumer offerings. The direct benefit of this is that it should simplify consumers’ lives, improve business efficiencies and help governments improve their service delivery to citizens.
Strong cybersecurity is essential
The IoB raises issues that we might have to grapple with as a society. Take consumer reaction, for example. In order to avoid an adverse consumer response to their data being used, it will be vital to find a balance between personalised offers, tailored to that person’s particular inclinations, and not appearing to be intrusive…even invasive. Also, companies using an IoB approach to their strategies will need to make sure they have strong cybersecurity in place in order to protect all the sensitive data they hold. One thing is clear however - behavioural data is set to form an ever-more integral part of strategic planning, especially in the areas of development, marketing and sales. In the right hands and with the right data protection laws, it will play an increasingly important and, we trust, beneficial role in our lives.
As ever, I am always happy to answer any queries or concerns you may have about the issues raised in this article. Call me or any member of the High Performance Networks team on 028 9053 8411. We’ll help you manage data in ways that are right for your business.
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