To this day, customer data are often still collected in large data sets with no clear strategy how it can create value in the organization. The willful and aggressive collection of data to tends to impact trust between supplier and vendor. In most cases, consumers find it difficult to understand what data is collected and how it is used. Nowadays, there is a strong need for transformation in the collection and usage of data, for privacy and transparency.
There is no certainty yet how the big tech players will react, but one thing is foreseeable: 3rd party data - i.e. data collected via third-party providers that are aggregated and resold - can hardly be used in the future. Already, many big companies like Firefox and Apple have blocked 3rd party data in their browsers. In contrast, 1st party data - data collected and leveraged through an enterprises own system - is becoming increasingly important. This data cannot be read by third-party domains and are therefore managed by the respective company itself.