What does second party data typically involve?

Second-party data typically involves data provided by another organization regarding their audience. This relationship is often established through partnerships or collaborations, where one organization shares insights about their users, which can be valuable for targeted marketing or analytics purposes.

This concept is particularly relevant in contexts where brands want to enrich their own data sets without collecting additional information themselves. For example, a company may trade access to its own customer data in exchange for insights from another firm, thereby enhancing their understanding of market trends and consumer behavior.

The other options highlight different types of data collection methods: public records are independent sources available to the public, first-party data refers to data that a company collects directly from its own audience (contrary to what's suggested), and social media platforms can be sources of third-party data when analytics are gathered from users who do not belong to a specific organization. Each type of data serves distinct purposes and is collected in various ways, but only second-party data directly involves the sharing of audience insights across organizations.