Consumer IoT: Redefining the Personalization Frontier
“The internet is no longer a web that we connect to. Instead, it’s a computerized, networked, and interconnected world that we live in. This is the future, and what we’re calling the Internet of Things.” – Bruce Schneier
When consumers engage or use an IoT based device, they expose themselves to a brand giving it a plethora of information about themselves. To the brand’s advantage, this information lends it the ability to build beneficial relationships on a deeper level and acts as a roadmap to how the data has impacted the product and technology. For example, a single search done by a consumer on the internet will customize the ads depending on that very search on the next internet platforms/portals you visit. Which means, if you have already looked at a particular product on Amazon, you will see the advertisement of the same or related product when you visit Instagram or Facebook. What is surprising is the fact that these ads which used to trigger negative emotions in the audience initially are not only acceptable today but also welcomed. This data-driven concept of user engagement has opened the new frontiers of product/service personalization. The more consumer IoT engages, the more the product learns about the user behavior; and as more behavioral data is gathered, more customized alerts and notifications can be sent to ensure a great experience with the product or a service.
Every small task that is accomplished in a few seconds via your smartphone today, was the task that took a day or more, earlier. The technology has facilitated for mankind, ‘convenience’, and IoT has had a massive role to play in it. It is because of IoT that small and large companies have made a breakthrough. The consumer IoT at its current growth pace has more potential than one can imagine. With the technology-focused data collected by companies, the IoT will continue to grow in sophistication.
From being a speck to becoming the Universe
Consumer IoT is an inevitable progression which will further continue at a rapid pace. It unlocks an incredible amount of information for the brands which creates opportunities for not just contact centres but for Customer Experience (CX) creators or providers. It was almost unimaginable just a few years ago, that the activity or choices of a single individual would make a difference in the consumer catering. However, the evolution of AI algorithms in the recent times and with an average person owning/using/accessing up to 4 – 5 smart devices combined with the rapid advancements in the field of data engineering, data science and engineering analytics; the personal preferences, choices are governing what’s being catered to us.
The level of product customization avenues that it has opened for consumers today are boundless. Today, with the help of CX technology, the brands can gather sourced data systems to analyze and build a detailed profile on customers without invading their privacy, meeting regulations and complying to the information gathering laws of the region. This is evident from the business operations of the consumer brands in Europe, where the GDPR system ensures consumer’s right to information privacy.
Engineering also has played a huge role in making applications of consumer IoT intuitive and user friendly. Design engineers, UI/UX engineers, data engineers ensure the delivery of enhanced CX and facilitate enhanced interaction between the man and the machine.
IoT combined with AI is the reason why people purchase multiple devices to experience luxury and lead a comfortable living.
Consumer IoT has set a personalization benchmark in almost every walk of life but here are 5 sensible applications of Consumer IoT that have transformed the experiences:
- Automobiles: Infotainment Systems – know your music preferences, increase-reduce volume based on the speeds that you are driving, inform you about your service schedule, keep tab on your insurance renewals, let you know about your driving pattern and hence the wear and tear to the key components of the vehicle such as brake pads, clutch plate, etc., monitors the tyre pressure, and adjust the temperature based on the weather.
- Commute: Google Maps – define and direct the routes of your daily commute
- Smart Assistants: Help you control multiple facets of your home and are advancing to a level whereby they enable assisted living for dependents – patients, elderly citizens and kids.
- Smart Homes: Let you set the right temperature before you enter the home, set the right music as per the timing and the mood by communicating with your wearable device, adjust the temperature and the lighting based on the number of people present in the room for optimum energy utilization, and much more.
- Smart Wearables: Wearables come in various forms and enable various functions. From pushing you towards maintaining a healthier life-style, enabling performance optimization on the work-front to monitoring your vitals, wearables have transformed the services sector and are well poised to become the most valuable innovation for the next decade.
The Absolute Goal of Consumer IoT - Making Everything Smart
The roots of the Consumer IoT boom can be found in the Smart Phone revolution. In a sense, it made the technology caterers aware of the technology appetite of the people all around the world. Then began the classification of the offerings – Personal health gadgets, Communication Devices, Smart Assistants for homes and offices, Smart Appliances, Smart Meters for energy monitoring and management, Smart Campuses, and many more. Today, each of these technology offerings are at a different level maturity in their absolute potential to catering to humankind. However, with each passing day, these offerings/devices/gadgets are getting smarter by analyzing the usage patterns, user behaviors, nuances and fine-tuning their algorithms either actively or passively by contributing data to their manufacturers.
Without a doubt, IoT is growing at rapid speed to take over the world. However, the real smart thing that has enabled and facilitated this extremely successful journey of Consumer IoT thus far, and will take it to its absolute goal, is the seamless feedback loop between the consumer and the manufacturer. What Consumer IoT has done better than any existing feedback system/mechanism is that it has made the feedback process simple and intuitive and data engineers have at the same time complemented this process by developed analytical systems capable enough to decipher the data it receives.
One thing that can be said with absolute certainty is that, with Consumer IoT evolving at its current pace, the future of mankind looks optimistic!