2.3.2 Information transforms behaviour
This [the IoE] is not about technology at all. It’s about how we change people’s lives.
Value is a measure of benefit in an economic system. It is people who determine the value of offerings through a system of exchange. It is important to highlight that while data and analytics matter, it is judgement from people that turns data into insights, and insights into IoE value.
The IoE enables accurate and timely information that can result in changing human behaviour for the benefit of all people. It facilitates feedback that allows people to make informed decisions that bridge the differences between actual outputs and desired outputs. This is known as a feedback loop. A feedback loop can provide real-time information based on current behaviour, and then deliver actionable information to modify that behaviour.