Internet of Things and Big Data

Do you know what does Internet of things mean? well at the beginning I did not have any clue about this concept. However, the moment that I started searching the web, I have found a very interesting idea that blows my mind completely. I totally encourage you to watch this video by Intel:

Let me give you a brief definition of Internet of Things (IoT):

"The Internet of Things (IoT) is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction."(1)

Here are some fact about Internet of Things (IoT)

• 50 billion devices connected by 2020 (that's still a small percentage of "things")
• $ 19 Trillion in profit and savings from IoT over the next decade
• 90% of cars will be connected by 2020
• Home devices such as Nest will be a $ 490 Billion annual business
• Wearable devices will exceed $ 12 Billion by 2020

Source: 7 Ways the Internet of Things Will Impact Your Life

Examples of Applying of Internet of Things:

Shopping:

The IoT has already changed the way we shop. For example, some retailers using Bluetooth signals from customers’ smartphones to track their journey through a store. Another example is that, providing an app for a smartphone, so that customers can be offered coupons and promotional material directly on their screens while they’re out shopping. The retail industry has a huge opportunity to create smarter stores with personalized shopping experiences, and also do a better job with inventory management using IoT.

More Data Than Ever Before:

The Internet of Things will generate more data. Therefore, companies must rethink about a new innovative way for collecting and analyzing information because the amount and type of information produced by IoT will also introduce new or expanded roles for data analysts, strategists, and even customer service. For example, Smart devices will be able to track patterns of consumer behavior, and possibly make intelligent product recommendations and customizing searches in innovative ways. For an effective personalized marketing experience, companies can take advantage of IoT by using these data-based insights to understand who are the targeted demographic, their personality and interest, and their purchasing journey.

To conclude, IoT will be a technology that will transform the way the world works and how we live in it over the next 20 years. While we are starting to see its incredible impact, we are still very much at the beginning of the transformational journey. As a digital marketer, I believe that IoT has an endless opportunity. For instance, it will help us to predict when a consumer may shop at a specific store, or have a meal at a particular restaurant. Digital marketers will have more access to information about their customers.This interaction will support digital marketers in understanding the consumer behavior through analyzing data.