{"id":6060,"date":"2015-06-08T09:04:50","date_gmt":"2015-06-08T03:34:50","guid":{"rendered":"http:\/\/ivyproschool.com\/blog\/?p=6060"},"modified":"2025-04-01T17:01:26","modified_gmt":"2025-04-01T11:31:26","slug":"data-brokers-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/ivyproschool.com\/blog\/data-brokers-what-you-need-to-know\/","title":{"rendered":"Data Brokers &#8211; What You Need to Know"},"content":{"rendered":"<p>It\u2019s all about data and data, everywhere. Who needs the data, who has the data, and what is done with the data.<\/p>\n<p>The demand for data is such that recent times have witnessed an unprecedented <a href=\"http:\/\/www.pwc.com\/gx\/en\/technology\/data-explosion\/index.jhtml\">data explosion<\/a> as detailed consumer profiling for business advantage has become the norm.<\/p>\n<p><a href=\"https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2015\/06\/Data-explosion-infographic.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6061\" src=\"https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2015\/06\/Data-explosion-infographic.png\" alt=\"Data explosion infographic\" width=\"312\" height=\"493\" srcset=\"https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2015\/06\/Data-explosion-infographic.png 312w, https:\/\/ivyproschool.com\/blog\/wp-content\/uploads\/2015\/06\/Data-explosion-infographic-190x300.png 190w\" sizes=\"auto, (max-width: 312px) 100vw, 312px\" \/><\/a><\/p>\n<p style=\"text-align: center;\">A <a href=\"http:\/\/aci.info\/2014\/07\/12\/the-data-explosion-in-2014-minute-by-minute-infographic\/\">2014 Infographic<\/a> &#8211;\u00a0<em><a style=\"font-style: inherit; font-weight: inherit;\" href=\"https:\/\/www.flickr.com\/photos\/22244945@N00\/3278869535\/in\/photolist-5ZK4Fn-wZhZd-6aGNbC-9AsggZ-7XE95z-9Avbkf-5nJkso-55zRNp-aPstJp-9Y4VMY-deUcef-99Gf16-gcg8mw-4TnMfy-a5vF3K-deqnNq-9Y4VN1-acLqa5-cf9tko-asSJNJ-Rc1BX-acLrrb-igDmy-93s25S-7euQsi-526UdZ-9fv4y3-mzQCL6-8WPwKd-A9xpa-4y3Rug-2khxUo-bUdjEY-6arb1v-75umLC-9X5xcb-86ezqV-481hNa-mzRq8D-7dZZR8-7e4TBN-47GeJT-vyNc5-b4gX2t-6zVsV8-5v16L3-3jz3Bw-9qpCK5-7qtryv-7e4S1u\">Erik Fitzpatrick<\/a><\/em><em>\u00a0<\/em><\/p>\n<p>As a data practitioner, you may be inundated with data, structured and \u00a0unstructured. Yet, do you cringe at the idea of having some\u00a0more information that helps you gun for the best customers? I am sure NOT. Every business and analyst likes to have at its\/his disposal, a detailed consumer genome that is\u00a0used to consistently adjust prices and offers and even customize service \/ product models based on consumer\u2019s characteristics, browsing behaviour, location and even disease or pregnancy status!\u00a0 The demand for data is no longer confined to the 360<sup>0<\/sup> view of the consumer, but more and more granularity.<\/p>\n<p><strong>Lawful data gathering<\/strong><\/p>\n<p>When <a href=\"http:\/\/www.wsj.com\/articles\/u-s-spies-on-millions-of-cars-1422314779\">license plate tracking was used for surveillance databases<\/a> by the U.S. Homeland Security, it was considered perfectly legal, even though an invasion into privacy. The explanation was national security and public safety. But when companies like <a href=\"http:\/\/www.acxiom.com\/about-acxiom\/\">Acxiom<\/a> process trillion data transactions to amass publicly available information (social media, blogs, consumer surveys, public records, etc) in its 23,000 servers \u2013 it is for analysis and sale! As information is mined from publicly shared data, it is not considered unlawful (!!).\u00a0 The ethics may be questionable, but as a data practitioner, all we are concerned is the data\u2026<\/p>\n<p><strong>The\u00a0Data Brokers<\/strong><\/p>\n<p>The spiralling demand for data invariably led to filling in the gap. Enter, the Data Brokers.<\/p>\n<p>These are companies \u00a0not onto data gathering and analysis alone. They sell the data to banks, investment services, insurers, auto makers, department stores, digital marketers, education companies, health care operators, real estate chains and more. Some go beyond to analyse credit ratings and background checks, to up their services amongst banks and financial companies. Firms are also re-packaging and selling this data as a product, tailored to the end-user needs. These\u00a0suppliers of data, in both raw and processed \/ analysed form, are\u00a0the Data Brokers.<\/p>\n<p><a href=\"http:\/\/whatis.techtarget.com\/definition\/data-broker-information-broker\">TechTarget defines the data broker<\/a> as an information broker, often functioning as a <a href=\"http:\/\/www.mla-india.com\/\">database marketer<\/a> and consumer data analytics firm.<\/p>\n<p>The business of data brokering is a multi-billion dollar industry worldwide, albeit considered a shadow \/ unregulated industry, lacking transparency. However, in a demand-led data revolution, data users and analysts typically rely on the services of data brokers for detailed consumer DNA or market expansions.<\/p>\n<p><strong>Data practitioners and Analysts or Data Brokers?<\/strong><\/p>\n<p>The drive to collect and analyse data gets more intense every day. The lines between data analysts functioning as data brokers are also getting fuzzier. With decisions becoming more data-driven, it is a cut throat competition out there, where Data reigns supreme.<\/p>\n<p>However, transparency of data sources and methodologies used, as well as opt-outs and accountability, are ways that data brokers and marketers can continue to thrive in a market driven industry.<\/p>\n<p><strong>Bottomline<\/strong>: It is interesting to note that in the parallel geospatial data industry, the data source is very pertinent to analysis. While in analytics, it is the quality and granularity that counts. At the end of the day, perhaps there is need to look at all the three \u2013 data source, quality, granularity \u2013 as data brokering gains increased acceptance as a functional area.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>All that you wanted to know about the Data Broker &#8230;..<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[662,661],"class_list":["post-6060","post","type-post","status-publish","format-standard","hentry","category-data-analytics","tag-data-brokering","tag-data-brokers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What Are Data Brokers? 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