Hello Vijay.
First thing first, Welcome to you in Adobe Campaign family 🙂
As you may see, we have many paths for personalize a message in Campaign and it may appear confusing at the beginning. Perso path is sometimes depending on the execution context (i.e. from a Campaign workflow, A standalone delivery, etc. ...) and whether the data used for personalising is bound to the profiles or not. I assume you question is then totally legitimate by the way.
Personalisation tab is a legacy from earlier version of Campaign and is very useful when you are in a Standalone delivery. You can use it to handle more advanced logic than just picking field from the profiles schema. In addition it make it possible to load objects that are not directly bound to the profiles and that can be use to personalize the delivery when preparation is running. these objects are not unique per profile. They are global. Imagine you want to personalise a message based on a future event that is the same for all targeted profiles.
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