What is the difference between first-party, second-party and third-party data?
There are three types of data: first-party data, second-party data, and third-party data.
What is second-party data?
Second-party data differs from third-party data in the sense that this data is received
directly from a partner that owns that data; it’s another company’s first-party data.
An example of this would be if you bought a newsletter list from another company and
that list was based on emails collected on their website. Of course, you have to be very
careful here because any organization that collects data and sells it to another party
must have that clearly stated in their privacy policy. You can’t just go around buying
and selling email newsletters without permission! And, just like with third-party data,
there doesn’t need to be a commercial relationship between two partners for data sharing to occur.
Image Source: Cendyn https://www.cendyn.com/library/why-you-should-be-focusing-on-first-party-data/
