What is third party data?

What is third party data?

• A. Data collected from a company's own resources
• B. Data sold by an organization about their internal audience
• C. Data purchased from external sources who didn't collect it directly
• D. Data accumulated from surveys conducted by the company

Answer: (C)

Third-party data refers to information that is collected by an organization that does not have a direct relationship with the individuals whose data is being collected. Instead of gathering data from their own resources, a third party collects data from various sources and sells or shares this information with other companies or organizations. This data can include demographic details, consumer behavior, purchasing history, and more, and it is often used for market research, targeted advertising, and enhancing customer insights. This distinct characteristic differentiates third-party data from other types such as first-party data, which is information collected directly by a company from its own audience or customers, and second-party data, which typically involves data shared between two organizations with a direct relationship.

Third-party data refers to information that is collected by an organization that does not have a direct relationship with the individuals whose data is being collected. Instead of gathering data from their own resources, a third party collects data from various sources and sells or shares this information with other companies or organizations. This data can include demographic details, consumer behavior, purchasing history, and more, and it is often used for market research, targeted advertising, and enhancing customer insights.

This distinct characteristic differentiates third-party data from other types such as first-party data, which is information collected directly by a company from its own audience or customers, and second-party data, which typically involves data shared between two organizations with a direct relationship.