Glossary

What does onsite personalization mean, what is it about multivariant testing?
 Important terms from our industry - simply & quickly explained.

Third Party Data

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Third-party data are data sets that marketers can buy or rent from third parties - usually specialized data providers, but also social networks such as Facebook, for example. This contrasts with first-party data, which is collected by the company itself, but it can also be a useful supplement to it.

 

Therefore, third party data is mostly used if the company wants to expand and enrich its existing first and second-party data and thus improve the targeting of its own marketing measures and campaigns.

 

The advantage of third-party data is its fast availability - the data does not have to be laboriously collected and analyzed by the company.

 

The disadvantage can be a low availability because not every information about each user is known.

 

Nevertheless, it can be worthwhile for companies to use third-party data, for example when acquiring new customers. However, it is essential to observe applicable data protection regulations.

 

Third-party data can only ever be a (sometimes expensive) supplement to first-party data. For this reason, it is worth investing in your own data management in the interests of sustainability.

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