Data brokers are companies that gather information from various sources to create marketing data. The data can come in the form of consumer information, business information, credit information, or a combination of both.
Data brokers are companies that collect and sell information about people. They know a lot about people, including their name, age, address, and what they have bought online. You can protect your information from data brokers by using a pseudonym and by being careful about what you share online.
What is Data Brokering?
Data brokering is selling information (data) that is then used for various purposes. For example, a business may buy data from data brokers and use it to improve its customer database.
Data brokers are often companies that collect and compile data from various sources. Often this information is purchased from other data brokers or directly from the companies that the data holds. Some examples of data that is collected and compiled from a wide range of sources include:
- Age, gender, income, marital status, and location are some of the main data elements that data brokers collect.
- Sales and product information, such as product name, type of product, price, brand, and retailer, are all information that data brokers collect.
- Data brokers also collect data about consumer interactions with the data. For example, data brokers may track how customers react to advertisements. This information is valuable for businesses as it allows them to gauge the effectiveness of their advertising campaigns.
Data brokers are often partnered with companies to produce information that shows a particular aspect of data. For example, data brokers may produce a report showing a country or region’s customer demographic profile.
Businesses often use data obtained from data brokers to improve their own business. Data brokers are often seen with marketing agencies, banks, insurance companies, and retailers.
What data can I get from data brokers?
The data broker industry is made up of several different companies. Some data brokers are big companies with a global presence, while others are small local companies. Many of the data brokers were established as a result of the internet.
Some of the information you can get from the data brokers includes consumer information, business information, credit information, and location data.
- Most of the information that data brokers provide is consumer information. The data that data brokers provide can be consumer information from many different sources.
Some of the information that you can get from data brokers includes:
- Demographic information includes age, gender, income, and marital status. Data brokers can use this information for various purposes.
- For example, data brokers can use age data to determine the number of people in a certain age bracket likely to purchase a particular product. Data brokers can also use demographic data to determine the average income in a particular location.
- Lifestyle information can be used to define consumers and their behavior. Some of the information that data brokers provide includes:
- Education information includes information such as school affiliation, degree, and occupation. Data brokers can use education information to determine consumer and potential customer behavior.
- For example, data brokers can use education information to determine the frequency of visits to websites related to a particular profession.
- Shopping information includes product type, purchase intent, and buyer preference. Data brokers can use shopping information to determine customer satisfaction, buyer loyalty, and buyer behavior.
- For example, data brokers can use shopping information to determine the types of products that consumers buy most frequently.
- Business information includes information that can be used to determine the size of businesses. Some of the information that data brokers can provide includes:
- The company information includes company name, address, and phone number. Data brokers can use company information to determine customer insights such as customer trends, customer demographics, and customer preferences.
- For example, data brokers can use company information to determine the average age of a company’s customers.
- Product information includes product brand, product category, and product price. Data brokers can use product information to determine brand awareness, product preference, and purchase intent.
- For example, data brokers can use product information to determine customer satisfaction, loyalty, and product purchases.
- Credit information includes credit card information, credit history, and credit score. Data brokers can use credit information to determine creditworthiness.
- For example, data brokers can use credit information to determine a person’s likelihood of receiving credit.
- Location information includes zip code, postal code, and city. Data brokers can use location data to determine a customer’s location.
- For example, data brokers can use location data to determine their location or the location of a potential customer.
Why Do I Need a Data Broker?
Many small businesses often use data brokers. For example, many businesses use data brokers when they market their products. Data brokers allow businesses to create targeted and personalized marketing campaigns.
Data brokers are also useful to larger corporations. Larger companies often use data brokers to help them improve their own products and services. For example, large companies often use data brokers to help them create more accurate estimates about the cost of their products.
Data brokers can be useful for a variety of reasons. Data collected from customers can be used to create a product recommendation system. For example, data brokers may collect data about customers’ product preferences. The system then uses this information to recommend products that customers are likely to buy.
Data that is collected from customers can be used to understand customer preferences. Customer service officers can then use this information to understand customers’ problems. Data brokers are also often used by companies to improve their customer service.
Many marketing agencies use data brokers. Marketing agencies often hire data brokers to collect information about potential customers. Marketing agencies then use this information to develop marketing programs.
Data brokers are also often used by banks. Banks often collect customer data from their customers. Banks can use this information to understand their customers better. Banks can use this information to develop customer service programs.
Data brokers are beneficial to customers. Data brokers allow customers to get good products at discounted prices. For example, data brokers often hold sales events that offer customers discounts on popular products.
Data Brokers and Privacy
The use of data brokers raises many privacy concerns. For example, data brokers allow companies to collect information about customers. Companies can use this information to develop better products and services. However, this information can also be used by companies for marketing purposes.
- Data brokers often collect information about customers without their consent. Many customers feel that this violates their privacy.
- Data brokers often fail to disclose to their customers that they collect and compile information about them, often using false names.
How are data brokers used?
There are several different uses of data brokers. Companies, in several ways, can use the data provided by data brokers.
- Financial companies can use data brokers to gather information about consumers.
- Financial companies can use data brokers to gather information about potential customers.
- Insurance companies can use data brokers to gather information about customers.
- Insurance companies can use data brokers to gather information about potential customers.
- Recreational companies can use data brokers to gather information about customers.
- Recreational companies can use data brokers to gather information about potential customers.
I have offered a summary of the information that data brokers like Experian and Acxiom are gathering about you. The scope of these data brokers is substantial and can more than rival what Google collects. I hope the main points from this blog post have been useful and will help you take steps to prevent becoming a victim! I know it can be scary, but don’t go through with anything without first considering doing so – check out First Steps to Cutting Back on your Data Collector’s Invasive Practices!