Third-party data refers to information that is collected and sold by an organization that does not have a direct link to the user or organization purchasing the data. Third-party data often comes from a variety of sources. It is used by organizations to make their self-collected data better, enhancing it with more information. This can lead to benefits like better targeted advertising and more effective marketing.
Third-party data is collected from various sources by an outside organization and then sold to an end user. The data being sold can come from sources like surveys, websites, or public record. This wider view of a potential customer base can give an organization insights that it may not have had access to through its own channels. However, since the data comes from multiple sources and often provides no information about how it was collected, it can raise questions about data privacy. It is also important that organizations purchasing third-party data check to ensure the data is of high quality.