The Internet of Things (IoT) is a network of physical devices that collect and share data via the Internet. Pretty much any physical object can be transformed into an IoT device if it can be connected to the internet to be controlled or communicate information, like smart lightbulbs, thermostats, children’s toys or driverless trucks. The IoT is quickly evolving in terms of its complexity, i.e. the way devices are interconnected, the algorithmic calculations of these things performing on their own, and data which is stored in cloud.
Since the beginning of the internet, data has been very vital for businesses. However, in 2021, Gather called the Internet of Behaviour (“IoB”) one of the top technological trends. (Kasey Panetta, Oct 2020)
IoB refers to the behavioural data analysis gathered from the IoT and then attempts to make effective use of. IoB combines existing technologies that focus on the individual directly such as biometric or facial recognition, location tracking and big data. It is therefore a combination of three fields: technology, data analytics and behavioural psychology. (Softex, Feb 2021) These findings influence new ways to create a user experience (UX), search experience optimization (SXO), and how to advertise a company’s final products and services. (Utsav Mishra, Jul 2021)
With the help of both IoT and IoB, it has become possible now to gather and interpret massive data generated via various online activities and personal behaviour, including social media behaviours and commercial transactions.
Being termed as “Start-up Nation”, Israel is a country with the birth of many innovative technologies in IoB. And with the ever-changing demand landscape, we see the adaptability of companies as they improve and evolve. Here are a few examples:
Namogoo is a digital journey continuity platform that enables online brands to drive their customer journeys forward and clear the path to purchase. Namogoo’s platform autonomously adapts to each customer visit in real time, keeping the journey flowing to its destination. Namogoo’s Customer Hijacking Prevention identifies and blocks unauthorized ad injections from diverting online shoppers to competitors, immediately lifting conversion rates and revenue. Namogoo’s Intent-Based Promotions predicts and individualizes the most effective minimum promotion for each visit, saving eCommerce retailers’ margins and strengthening brand equity.
Optimove uses a real-time customer data platform to autonomously transform customer data into actionable insights, helping customer-centric businesses drive measurable growth. The company’s technology suite enables the smart orchestration, measurement, and optimization of highly personalized multi-channel campaigns at scale, resulting in improved customer experience, retention, and lifetime value.
Anagog‘s mobile engagement platform operates from within mobile phones rather than the cloud. The platform ensures that apps can provide hyper-personalized engagement using a wide range of first-party data, while keeping that data on the device to ensure consumers’ privacy. The company’s AI edge technology embedded within the platform enables it to deliver artificial intelligence in a small footprint. Placing all that intelligence on mobile phones means that companies no longer have to collect personal data or use tracking mechanisms such as cookies or unique IDs to offer customers perfectly targeted and timed engagement.
Together with the activity in Israel, the Foreign Trade Administration operates a network of economic representatives who constitute the operational arm of the Ministry in markets around the world. The main activities of the economic and trade offices include activities for the promotion of trade and export, initiating and maintaining trade agreements for the improvement of Israel’s trade conditions, attracting and encouraging foreign investments and creating strategic cooperation with foreign companies.
For more information, please visit http://www.itrade.gov.il/ or contact your local Israel Economic Attaché.
(Kasey Panetta, Oct 2020)
(Softex, Feb 2021)
(Utsav Mishra, Jul 2021)