What is 1st party 2nd party 3rd party?

yash_gatty

This discussion will explore the differences between 1st, 2nd, and 3rd party data and how each type of data can be used. We will discuss the advantages and disadvantages of each type of data, and how they can be used to benefit businesses and organizations. We will also explore the legal and ethical implications of collecting and using each type of data.

Vidya436

1st party: This term refers to the company or organization that originally created and owns the data. This could be you and your business, or a partner organization that has given you access to their data.

2nd party: A 2nd party refers to a trusted partner organization that has a close relationship with the initial source of the data. It is a business that enables companies to collaborate through the sharing of unique data sources.

3rd party: A 3rd party is an organization that is in possession of data collected from the 1st or 2nd party, yet isn’t related to the original source. For example, a media tracking company could collect data from your website and Facebook page, providing insights on customer demographic to help inform marketing efforts. By relying on a 3rd party, you can gain valuable data points with less effort.

In summary, the 1st party is the original source of the data, the 2nd party is a trusted partner, and the 3rd party is a third organization that has access to the data.

mallika_sullad

1st party, 2nd party, and 3rd party data refer to the origin of data sets used in the digital advertising and marketing ecosystem.

1st Party Data: This type of data is collected by the individual organization or brand (“1st party”) and is typically collected from their customers, clients, or visitors. This information typically includes demographics such as age, gender, and location, but can also extend to more precise metrics like purchase history or web-browsing behavior.

2nd Party Data: This type of data is collected by another organization and shared "directly" with the company. The company that shares the data cannot use it itself and must pass it on to another company. This type of data usually originates from a corporation’s partners, clients, or affiliates.

3rd Party Data: This type of data is collected by analytics providers and other data brokers from multiple sources and then aggregated into a single dataset. This dataset typically includes web-browsing behavior and demographic data, allowing companies to find new, targeted audiences for their marketing efforts.

Using these data sources, marketers can create personalized experiences for their customers and acquire valuable insights on their prospects.

For more information, check out this informative article: https://www.kaizenad.com/blog/1st-party-2nd-party-3rd-party-data