Eli5: Why/How do companies make so much money collecting and selling data?

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Is it really that valuable? How much are these companies shelling out to purchase said data from other companies?
And what data are they typically selling/buying?
I’m a fairly boring person. I just can’t wrap my head around some company wanting to pay for information about who I am, what I like, etc.

Curious if anyone can share more information on this business model/practice.

In: Economics

8 Answers

Anonymous 0 Comments

What is the goal of a business?

That’s right, to sell a service or a product to you.

But first they need to find customers, determine you are a potential customer, convince you to become an actual customer, retain thr customer, etc.

This requires information about people. Who they are what they like, etc.

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