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2 weeks ago
Discuss the four ways that IoT can drive marketing.
Textbook 

Analytics, Data Science, & Artificial Intelligence: Systems for Decision Support


Edition: 11th
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1. Disruptive data collection. IoT collects more data about customers from more data sources than other technologies do. This includes data from wearables, smart homes, and everything consumers do. In addition, IoT provides data about changes in consumer preferences and behavior.
2. Real-time personalization. IoT can provide more accurate information about specific customers buying decisions, for example. IoT can identify customer expectations and direct customers to specific brands.
3. Environmental attribution. IoT can monitor environments regarding ad delivery for specific places, customers, methods, and campaigns. IoT can facilitate research of business environment; factors such competition, pricing, weather conditions, and new government regulations are observed.
4. Complete conversation path. IoT initiatives expand and enrich the digital channel of conversations between customers and vendors, especially those using wireless digital engagement. IoT also provides insight on consumer purchasing paths. In addition, marketers will receive improved customized market research data (e.g., by following the manner of customers' engagement and how customers react to promotions).
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