The evolving landscape of data
The data sector is in a constant state of change. For years, companies have provided marketers with third-party insights for audience targeting that lacked accuracy and contextual relevance. This kind of data was missing crucial context that would go one step further, assigning motivations and background to the population the data is about.
The rise of data brokers
Data brokers emerged to fill this industry gap. Sometimes known as data vendors or information brokers, they collect, process, sell, and trade different data types. Their extensive scope covers anything that can be collected from public records. Simply put, data brokers provide the missing context on who people are within a data segment, creating an in-depth profile instead of just an anonymous grouping. They can give a more detailed analysis and profile by aggregating data points from multiple sources, something previous data sources couldn’t reliably do.
Canada’s path to digital privacy
Data brokerage began in the late 20th century, but it wasn’t until the 2000s that data brokers expanded to include the selling of digital technology and online data. This period saw the use of data management platforms to collect browsing data through third-party cookies, which can be considered the true beginning of significant privacy concerns in the sector. By 2012, the Office of the Privacy Commissioners of Canada released a report about online tracking, profiling, and targeting. Nearly a decade later, in 2020, the Canadian government introduced a Digital Charter, and a year later, it introduced the Consumer Privacy Protection Act (CPPA).
Measurement and targeting abilities
Data brokers have the unique ability to tell consistent stories across a fragmented tech environment. Using them allows marketers and advertisers to measure success and target specific groups across multiple websites and environments.
Consolidating information from diverse sources is extremely valuable, as it allows a more comprehensive customer profile that is impossible to get from a single data source.
Data rights as human rights
There’s been a significant shift toward viewing data rights as synonymous with human rights. In many ways, this evolution is natural as the industry grows more advanced, with companies developing increasingly targeted and sophisticated data capabilities. In response, data protection and consumer rights have moved to center stage in public discourse. The Canadian government has sought ways to give people more control over their information and data, including the right to access and correct the data held by data vendors.
As regulatory pressure mounts for increased transparency and stricter industry oversight, data vendors must adapt to increased industry regulations and transparency in data collection practices.
The future of data
Using data to understand current and potential customers is critically important for marketers and advertisers in this challenging time. Regulators continue to explore legislative actions and privacy protections. In this environment, it’s more crucial than ever before to double down on trusted partnerships. When evaluating a partnership, consider two key factors: its business value and trustworthiness. Consider whether you can trust your partner to ensure personal data is collected and used in adherence to current regulations and with full consent and knowledge from the end user.
Another strategy that is becoming important is enabling data owners to learn about overlapping customer lists safely in data collaboration environments and with Clean Room Technology, which allows combined data sets to be analyzed without exposing the underlying raw data. The Globe and Mail has recently begun to work in these environments with promising results that suggest a bright future for privacy-first data partnerships.
By prioritizing trust, compliance, and innovative collaboration technologies, marketers can better navigate today’s data landscape while building more meaningful customer relationships built on trust.
