How the Internet of Behavior(IoB) will affect consumers’ decisions

The act of decision making has so far been solely in the hands of the consumer; he has the appellant jurisdiction to decide the products to buy and that to let go, a power that has never been deprived from him for decades, but this time, things are about to take a different turn. Internet of behavior can hardly be talked about without the mention of Internet of Things. 

Many disruptive technologies have been invented which include Cloud, Artificial Intelligence, Data science, Machine Learning (ML) just to mention but a few; all these of which have played important roles in consumer preferences, but none can stand toe to toe with the effect of IoB. Using the Internet of Things IoT, consumers’ data and statistics have been cumulated either knowingly or without the knowledge of consumers via the internet. Internet of Behavior is a comprehension of the data acquired through online behavior of users; It is a reference to the gathering of data that offers top-class information on the behavior and preferences of clients. “The objective of Internet of Behavior is to monitor, analyze perceive and respond to all forms of human behavior, to track and explain peoples’ behavior using new technology and Machine Learning developments” The internet is unreservedly the portal for which all these information is gathered, there are presently over 4.66 billion internet users in today’s present world which accumulates to over 1.3 billion years of human time to be spent online in the coming years.

Companies have banked on understanding human behaviors; basedon these instant data which to a higher extent define the wants and the purchasing powers cum desires of consumers; knowing their practices, want and preferences has become something very easy for producers; thanks to the Internet of Behavior or should I say the clue about our life that we most times ignorantly dump on the Internet.

How will Companies make use of IoB relative to consumer purchases?

# Consumer Analysis: At the seat of consumers’ purchasing power lies his behavior, all that can ever be known about a consumer is subject to his behavior, his want, desire, actions, approach to events; companies have measured the analysis of behavioral attribute of consumers as an indispensable key in understanding all that is to be known about consumers. Analyzing the various data obtained using the IoB  has been a tool that companies have incorporated in this time to monitor, observe and analyze consumers today.

#Consumers’ Real time satisfaction: When the facts about a consumer is gathered online using the internet of things gadgets, it becomes easier for the producer to dictate his likes and dislikes and when this is taken account of, the satisfaction of the consumers becomes the aimed focus of producers. Designing products that will satisfy consumers in real time becomes less of a herculean task as all that is required by the producers have been kept at finger tips courtesy of the internet of behavior.

#First class clients/customer service: A clear understanding of traits in consumers gives the companies a clearer view on how to enhance their customer service operations. The acts of client’s service will become topnotch when the behavior of clients are accumulated, customers will view companies as magicians owing to the fact that companies will now know the best way to address their concerns long before the concerns emanate; this is the miracle of Internet of Behavior.

Although the purchasing power of customers may not be altered totally but his desires and wants and his next mode of actions will be on the finger tips of producers and companies. 

Most people see the internet of behavior as a compromise to users’ privacy while a whole lot still gaze at its concept as a shift in the right direction; what is your take about this whole innovation of internet of Behavior? Drop your comments in the comment box below as the content writer will be available to respond.