Second-party data is data a different company collects directly from its customer base or audience. This type of data will typically need to be paid or traded for. Not to be confused with “secondary data.”
Example: Brand X and Retailer Y agree to share data for a co-marketing program. Brand X blends Retailer Y’s data with its own (with appropriate safeguards in place), to create an expanded data set with more variables that can be used for targeted campaigns.
The usefulness of second-party data relies heavily on the provider’s data quality, so a rigorous vetting process is usually conducted.
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