Third Party Data is very different from Second Party Data and First Party Data. In this instance, data is collected from a large data aggregator that doesn't have a direct connection to an end customer. This is data you buy from a large data aggregators (Acxiom, Factual, Infogroup, Localeze) who gather the data from other websites and platforms across the web.
Data is king. Third Party Data is data you just simply couldn’t collect on your own. First Party Data, can’t match the scale of Third Party Data. As a result of having this extensive amount of data on a wide range of target audiences. With all of these segmented audiences, you’re able to run more effective and efficient ad and marketing campaigns because you know your audience better. Third Party Data
On a basic level, we are all probably familiar with these 3 terms. Lets hash out the difference between the 3!
First Party Data is data that your company has collected from your audience and your own website. The purpose of the data is to be used for retargeting. This is reliable and accurate data, because it comes directly from your audience who you have the most to learn from.
Second Party Data is another company’s first party data that they’re selling to another company or sharing their data with a trusted business partner.