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The Internet of Things. Revealing Consumers' Hidden Desires
- 1. The Internet of Things Revealing consumer’s hidden desires by Darya Loban and Anna Krivko, 3rd year, BA, Group 414
- 2. What is the Internet of Things? 2 The Internet of Things is a system of electronic devices, which collect and exchange data. The IoT is everywhere!
- 3. Benefits and threats of the IoT Benefits Health and fitness Food Smart-parenting TV Urbanism Ecology Household appliances Transportation Threats Privacy and security threat Smart terrorism Disunity Development of the Artificial Intelligence 3
- 4. Understand customers' experience Find out hidden information Become customers‘ friend Use personalized approach The IoT in Communications and Marketing 4 40% 9% 60% would share data in exchange for incentives would share data without incentives would share car data for a free maintenance
- 5. Research and its results 100 respondents 57% female / 43% male Aged from 14 to 62 General number With software or communication 1 - 5 1 - 5 35 1 - 5 32 6 - 10 6 1 - 5 14 6 - 10 5 1 - 5 1 6 - 10 2 11 and more 1 1 - 5 1 11 and more 3 Number of the same responces 6 - 10 11 - 15 16 - 20 21 and more General number of gadgets used per day 5
- 6. Conclusion 1. The IoT is good 2. The IoT means customization through optimization 3. The IoT helps to make business decisions and form objectives 4. IoT is one of the ways of getting a competitive advantage 5. Show people, their data is treated properly and used for good 6. Target IoT on youngsters and young-adults 7. Remember, that the IoT is not cheap 8. Teach and study IoT hygiene 6
Editor's Notes
- Даша From the very beginning of trade sellers were facing a question How to get to know what exactly the customer needs? For many years the answer was Marketing. But time is not staying at the same place. Now the answer is The Internet of Things! This is a new era of revealing consumers’ hidden desires! You need no more researches and questionnaires, you can get whatever data you want from the devices consumers use. Phones, cameras, MiBands – all of these bring the data, the hidden knowledge of the market.
- Даша Just imagine: In the morning the alarm gets you up by automatically. The light is switched on, the kitchen is cooking breakfast. Your car has started itself and is waiting for you. Your refrigerator adds ‘milk’ to your shopping list. During the trip your car drives itself, using millions of embedded sensors. Sounds impressive, right? That is the Internet of Things. It is an idea of gathering electronic devices, into a computer network to communicate among each other and external environment. Connections allow devices to collect and exchange data, and we can manage them. Today, 26 billion of connected devices are used globally, which is averaged at 4 units per person, in 3 years the number will double. The Internet of Things touches every aspect of life from home appliances to space expeditions. Possibilities of IoT are unlimited!
- Аня Threats: Privacy and security threat. For example, burglars can use data to find a safe time to break in your house. Smart terrorism. For example, hackers who will break into our systems and attack us with our own devices. Disunity. The more we rely on objects, the less we need people. Humans, who used to be the center of communications, become “only a piece of the overall IoT puzzle”. Development of the Artificial Intelligence. Devices becoming smarter and stronger that human beings. Benefits: Health and fitness. For example, devices tracking body changes and informing a doctor when needed. Smart containers for medicines. Food. For example, tracking food from the moment of harvest to final store. Smart-parenting. For example, monitoring options of breath, heart rate, temperature, wetness of the diaper. TV. For example, smart TV adjusting to our preferences, lifestyle and time-schedule. Urbanism. For example, find a parking spot with the help of sensors. More facilities for older people and the disabled. Ecology. For example, new eco-friendly solutions. Household appliances. For example, automated grocery shopping, cleaning, security control. Transportation. Smart cars, motorcycles and bikes, smart systems of traffic monitoring which improve safety.
- Аня 40% will share data in exchange for coupons or discounts 9% will share data without incentives 60% would share car data for a free maintenance session Understand customers' experience Find out hidden information Become customers‘ friend Use personalized approach
- Даша 12 questions 100 respondents 57% female / 43% male Aged from 14 to 62 81% feel positive or neutral about the concept of IoT 77% dislike the idea of their data being collected via IoT Most of people think they use 1-10 electronic devices a day use, while around a half of them have at least some technology inside People of the age between 17 and 32 own the biggest number of online accounts (3-15 accounts, avg. 9) 60% think that IoT will become a widespread technology shortly 61% already feel influenced by it 92% said it is possible for IoT to influence their consumer decisions To generalize: People are willing to have such a technology in their life, but feel uncomfortable knowing their data is being collected. That is the result of lack of informational intelligence and hygiene People under evaluate how many devices they use and tend to think of their direct gadgets, not taking into consideration the public ones Currently around a half of our devices can potentially collect data Youngsters and young adults are the most active users of the media and innovative technology. They are innovators, who can bring the technology to masses IoT is very much likely to become a widespread technology soon, because of its possible practical implications in various spheres Even though today IoT is only developing, people already feel influenced by it, and think it can affect their consumer behaviour In other words, businesses can use IoT as a tool of revealing consumers’ hidden desires.
- Аня