The generous view is to say they are specialized policy research organizations. They usually try to understand how specific policies would impact their area of expertise.
They collect and synthesize data to produce reports and such that organization can use to make decisions. Usually this is lobbying groups or the like trying to push policy. But also non-legeslative organization, like normal companies and non-profits.
In actuality, I would not say it necessarily flows from objective research to policy makers. Certainly some think tanks do try to be objective. But also plenty with fewer academic scruples and uncomfortably close ties/associations with policy groups.
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