18: Value of data as a currency and a marketing tool
Sumesh Dadwal; Anwar Haq; Arshad Jamal; Imad Nawaz Northumbria University, London, United Kingdom
Abstract
Data currency is a monetary value assigned to data to identify its financial significance to an organisation, as it can be used as the unit of exchange in a transaction, either as the sole payment or in combination with money.
The purpose of marketing is to segment the market, target the right customer, and provide specific solutions to customer needs at the right place and right price with effective promotion. Thus, data is the new oil. Further, many underdeveloped economies are able to grow their economies faster due to modern information technology and communications technologies ...
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