What Is Data Brokering?

Data brokering has hit the big time. It's creating buzz, controversy, and even a few scandals as companies mine and sell information about how people spend money. Don't you have to hand your wallet to a data broker? There are many ways to Defense yourself from these businesses who want your information and earn profits from it later. Data brokering is a collaborative process involving the right data sets to address a business problem. It requires expertise, domain knowledge, and the ability to navigate different datasets to find the ones that have the information needed to solve a particular issue. It may require data cleansing to make the information most valuable and easily understood. Providers make their data available to other businesses in the data brokering model. Data consumers can search for data that meets their requirements. Once the information is selected, it is downloaded and used for a specific business objective. Data brokering is a collaborative process across industries, countries, and cultures. Companies that offer data to other businesses are called data brokers. Data brokers must consider the laws and regulations that apply to their data. They must also consider the technical requirements of the data consumers using different systems and technologies. Data brokers must also create a system that enables other businesses to access their offered data. Data brokering is not a one-time process; it is an ongoing process that requires continuous updating and maintenance. The report then provides examples of data brokering, such as purchasing data from a pollster and selling it to a political campaign. The rest of the piece explores the implications of data brokering for businesses and consumers and some real-life examples of data brokering in practice. Most of us must realize how much our data is collected, sold, and used by companies to formulate targeted advertising. A glimpse into the lucrative world of data brokering illustrates how much information about us is being bought and sold.