Source data is any information collected directly from your audience or customer base. The use of your own data and the value that this data can offer are many advantages that can offer. Proprietary data provides higher quality information about your audience so you can create a personalized experience for users, improve your retargeting strategy to achieve better performance, and predict future trends.
First-party datais information that companies collect directly from the user.
This information may be collected through a combination of online and offline channels, such as mobile applications, websites, social media, or surveys. Source data is information that companies can collect from their own sources. In other words, all customer information from both online and offline sources, such as the website, application, CRM, social media or company surveys, is first-party data. The difference between source data and third-party data is the collection and the collector.
The organization collects its own data from its audience. An independent organization collects third-party data from multiple audiences, including those that are not related to its audience. Source data, in particular, is one of the most important sources of data right now, so it's vital to understand how to capture, collect, and use it. But how do you find those companies? One of the easiest ways to find a buyer or seller is through a third-party data marketplace, such as the Lotame Private Data Exchange (PDX), which connects both parties to allow third-party data transactions.