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Will all that talk and hype around 5G become real? The need for a reliable and fast connection became urgent. When digital collaboration, remote work, and videoconferencing became a part of our lives, we had to get ways to boost speed. It was already clear enough for telecommunication companies that 5G was the way to go. The deployment of this technology will be important for different tools like IoT. About 51% of companies using IoT have noted an improved insight into customer needs, behaviors, and preferences.

We have witnessed a rise in customer data platforms (CDP). It’s not easy to organize fragmented data from multiple sources. To operate efficiently, you’ll need well-curated and timely operations. In a recent study, an estimated $3 trillion goes down the drain annually due to bad data. Therefore, it’s quite imperative that you address this problem early as a company. Luckily, CDPs help to solve this problem by collecting data from all sources. They then organize it, tag it, and make it usable. IoB is an upcoming trend that you’ll hear more of in 2021. Companies and businesses are taking advantage of technology to monitor consumer and customer behaviors. Some of the effective technological tools here include location tracking, big data, and facial recognition. According to a prediction by Gartner, more than half of the global population will be under an IoB tool by 2025.