Through mass collections of user data, certain companies have access to a diverse and abundant set of information that could be used to detect patterns and analyze trends. Thus, the industry has learned that big data is valuable. Other businesses could benefit from having the same data. However, since companies own that data, they have the right to sell it. These companies are called data brokers. By collecting data from online activity, data brokers license or sell their information to other companies that can use it for marketing and advertisement, fraud detection, and risk-mitigation purposes. The data brokage market has increased in value, estimated by Transparency Market Research as worth $240.3 Bn in 2021 and expected to reach $462.4 Bn by the end of 2031. Now, data collection not only has a benefit toward product improvement for a certain service company, but is also a lucrative business in its own right to sell to others.
Source:
Transparency Market Research
