DATA IN THE CENTRE OF BUSINESS MODELS: THE NEW NORMAL IN MARKETING

New economic assets which touch all aspect of society in the 21st century is Personal data. On daily basis, around 470 million (non-spam) emails are sent and 9.5 billion tweets are fed on Twitter. Ever month, user uploads 3 billion content on social media like Facebook. Big currency of today era is personal data that can be monetized. Personal data is the new oil or can say Uranium for 21st century. Marketers can contribute a lot in customer's life in big way and enable customers to live a better life. Marketers can add value to the customer lives. For benchmarking of organizations personal data can be used. Organizations on the basis of personal data can customize product business. From creating more brands, the focus should shift to customer of companies needs to be customer centric. This paper will discuss about how data can be used by marketer to improve customer experiences. How there is massive shift in customer bargaining, how data has become the new asset and now how organizations can build up new models on the basis of data.