2040's Ideas and Innovations Newsletter, Issue 46: Is Your Organization Prepared to Establish a First-Party Data Strategy?

Issue 46: March 10, 2022

The criticality and the stakes for embracing a first-party data strategy are becoming more and more urgent as the days pass. The evolving regulatory requirement is to adopt organizational privacy practices that put the controls of one’s data in the hands and decision-making power of an individual, not an organization. In late spring of 2021, in anticipation of the regulatory changes, we advised our clients to move away from, or minimize the use of third-party, anonymous user-generated, and cookie-based data. The urgency then, and now, was to encourage organizations to embed first-party practices and strategies.

First-Party Preference

Why is first-party data that represents an organization’s curated known users becoming more of a critical strategy for doing business in today’s economy?

Organizations that have aspired to or have had some success with moving to a data-driven model to be more informed about their customers, prospective customers and content consuming …