Believe it or not, your data is out there in the market, and it is being sold to other companies. Have you ever wondered how accurate an advertisement in your mail or on your social media is? It is as if your phone is hearing you somehow and showing you the ads according to it. The accuracy of these advertisements is spot on, and it is all thanks to your data that helps the marketers advertise a product according to your needs.
Data brokering is a multi-billion-dollar industry that does the business of acquiring and selling consumer data. Once consumer data is uploaded on the internet, it is available to the data broker companies who sell it to other companies. The industry comprises many companies that collect and sell consumer data to other companies. It is usually done for marketing purposes.
With all that said, it is a question of concern about how much data there is out there in the market, what they know about you and how much your data is worth. These are all genuine concerns any person would have. Data brokers usually collect data from public records, online activity, and purchase history. Once acquired, this data is really valuable for marketing companies, and the brokers sell it to them so that they can perform targeted marketing and gain success in their ads.
Acxiom is one of the largest data brokering companies with 23000 servers working collecting consumer data. This single company holds data of around 500 million people worldwide. Moreover, there are around 4000 data brokering companies active worldwide.
Take a look at the following infographic for more information about how data brokering works and how valuable your data is.
Infographic by: webfx