First party data is data that a company collects directly from its own company, customers, clients, or users. First-party data is gathered directly through interactions on a company’s own platforms, including websites, apps, social media platforms, or CRM systems.
First party data often includes details about customer behaviour, purchase history, preferences, location, and feedback. This data is often more relevant and accurate because an organization is able to collect it directly and does not need to go through any third parties to acquire it. The collecting organization owns and controls any and all first party data, allowing it to be used for the organization to customize marketing and customer experiences. Collecting first party data is also cost effective for an organization, as it reduces the need to pay an outside organization to collect consumer data for them.