Why personalisation replaces economics for determining value
Why should personalisation replace economics as a determiner of value? We should recognise that it makes sense to move toward a model of business where value isn’t determined by the interaction. It is much more complex, because there is a huge range of data created whenever we do anything that enables us to understand the before, during and after of any engagement. To determine what people get access to, when and why has to factor the individual and their context in. Economics says you can have what you can afford, with no concern for efficiency, usage or outcome. Personalisation says it makes sense for you to have access to this thing at this time because of the usage on the part of the individual, the efficiency enabled on the part of business and the overall outcomes produced. Personalisation is what you get when you use data – economics is anti-personalisation in every sense.