Abstract
For the last 40 years companies have collected information about consumers, stored this information on their own systems and used it for their own purposes. Now a vast new industry is emerging: personal data management services. Over the next decade, this industry will grow to be much bigger than today's CRM space, and will supplant many of today's CRM and database marketing activities. The foundation of this new industry is the personal knowledge bank. Personal knowledge banks enable individuals to assert ownership and control over their personal data. They will trigger the rise of scores of new consumer services, transforming the relationship between individuals and organisations and the ways organisations collect, manage and use data.
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