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How Biometrics Change the Way Business Decisions Are Made

Florida Business Innovation - Florida Business Insurance

Businesses today that are on the cutting-edge of technology are using sophisticated biometric technologies to reduce guess-work and improve decision-making processes. The latest in cognitive research is offering companies new insights into customers’ minds, especially the complex blend of emotion and reason used to make buying decisions. New biometric technologies are able to link emotions with physical responses, providing data and insight for identifying exactly what motivates people to take action.

Augmented intelligence solutions are able to gather raw data and provide further insights and analyze existing data through the use of advanced software. Biometrics are a game-changer when it comes to:

  • Academic research

Biometrics helps researchers understand decision-making processes, social behavior, risk-taking, reading and comprehension levels, memory and learning processes.

  • Neuromarketing

Biometrics offers empirical data about people’s emotions, negative vs. positive sentiment, attention and arousal.

  • Human-technology interaction

Biometrics is playing a role in understanding the thinking and emotions that drive customer satisfaction, human-computer, human robot and general UX flaws in workflow or navigation, as well as interface testing.

  • Healthcare

Biometrics is enabling healthcare providers find innovative solutions to a variety of health issues, such as:

  • Autism
  • Obsessive-compulsive disorders
  • Depression
  • Anxiety
  • Alzheimer’s and Parkinson’s
  • Dementia
  • Virtual reality

Biometrics is being used to measure users’ depth of immersion and identify triggers

Businesses are harnessing the power of biometric technologies at the consumer level. Companies are attracted to the reliability and accuracy of data that can be collected and used to make informed decisions that are relevant to customers and enhances business growth.

Here are three ways businesses are using biometric technologies.

  1. Enhanced customer engagement

As companies become more comfortable interacting with customers using digital and voice channels, voice analytics has become crucial. An increase in voice-controlled smart devices and other applications has produced valuable data that can be used to improve artificial intelligence technology.

Biometrics analysis is advantageous for developing sophisticated machine learning algorithms that take into account:

  • Customer service routines
  • Customer classification
  • Non-verbal characteristics, such as tone and rhythm
  • Deeper insights into the emotional and motivational aspects of the customer experience.
  1. Tracking customer behavior

Biometrics technologies are valuable for evaluating the customer experience. The use of sensors for data gathering and analysis of customer feedback provide a more accurate picture of customers’ motivations and impulses.

Sensors provide a variety of useful information for marketing researchers. Biometrics technology uses three different technologies to determine if a person is feeling positively or negatively.

These technologies include:

  • Galvanic skin response
  • Eye tracking
  • Facial expression recognition

When used with other data, biometric data can help business strategists track user responses to services and products as well as create more personalized customer interactions.

  1. Validating offline experiences

Businesses are using biometric technologies that extend to offline experiences using discreet cameras and sensors. Studies have been conducted in a retail environment using eye-tracking hardware. Tracking consumers’ eye movements provides insights into both the emotional response of a consumer as well as their decision-making processes. Eye-tracking technology is being used in conjunction with other facial recognition software to better understand the customer experience and responses at a particular point in time.

Biometric technologies are used by businesses to track and identify customer behavior. With the information that is being collected and analyzed, companies are designing products and services that are more personalized than ever.  As this technology is becoming more secure and convenient to use, its uses are increasing rapidly and are becoming critical to the development of many industries.

Lanier Upshaw helps businesses identify their risks, giving them a competitive advantage. Contact us here to learn more about our innovative programs that will help your business build a secure foundation for the future.