A data management platform (DMP) pulls information from three sources of data -- first party,second party and third party. This data is necessary to provide businesses with the information theyneed to in order to identify the audiences that drive their marketing strategy. By successfullyimplementing a DMP in New Zealand, for example, a business can then develop a core set of datato draw from when developing their strategy. Not surprisingly, it's important to know the types ofdata that are gathered for use in a DMP.

First-Party Data

First-party data is that information that is captured by a particular company. Some examples of howthis data might be obtained include specific internet behaviours, offline data that comes from themanagement of the relationship with a consumer and onsite analytics. This type of data enables aNZ business to establish a baseline about their audience.

Second-Party Data

Second-party data is the information that is captured by a partner company. By establishingconnections with existing companies that provide complementary services to NZ consumers, abusiness can often easily access the data that is collected. Second-party data tends to be moreunique and well defined because it's customised to the consumers that the partner companies aretrying to tap.

Using first-party data to establish a consumer base and expanding the understanding of thataudience by using second-party data provides a business with the ability to find demographic gapsand other missing information that could limit their understanding of their customer base.

Third-Party Data

Third-party data is typically obtained by businesses who then sell the information to otherbusinesses. Valuable to businesses that are trying fill in the gaps left by first- and second-partydata, this type of information can be derived from nearly any source. It's useful, for example, forthose businesses who are attempting to find brand-new customers who haven't made purchases orshared their information with them or their partners.

A caveat about third-party data that all NZ businesses must keep in mind is that the informationmight not be as reliable as the other two types. Regardless of this, using a combination of first-party, second-party and third-party data provides a rich source of consumer information.