What is Information Broker? Definition and Example

What Is Information Broker?

Personal data and information becomes so important and certain companies need the information. Advertising company, bank, mobile phone operators and other companies need the data, and they can gain the information from information broker. Simply, it is certain agency providing various personal data for companies. These kinds of companies are actually legal, yet there are also some of them who work illegally.

Information Broker Definition

In term of definition, information broker is also called as data broker. It refers to certain companies and agencies who work in collecting various kinds of information regarding individuals. Then, the information will be sold to agencies and companies who need personal data in running the business.

In addition, the broker also refers to certain individual who are hired by clients to find specific information. The clients have specific request and the broker will search by using various resources. The broker will find the information from various sources, and the database is not only limited to the online one.

What Does Information Broker Do? Example

Based on the definition, the information brokers or data brokers collect data. They can collect especially personal data of various individuals from various sources. The information can be gained from the purchase history, social media accounts, public information, various loyalty cards, and even from applications and researches.

Moreover, they do not only collect the data, but they also sell them for clients or agencies. There are various clients who need the data. For example, advertising companies need the data to know the tendencies of people in using certain products. Then, banks also need the data to make confirmation before granting the applications.

Moreover, there are also data brokers who specify the service to find people or people-search service. In this case, the brokers help clients to find certain people based on various data category. Based on their data base, the broker can help companies or individuals to find people and specific information based on the name, email address, and even social security numbers. Well, the information about financial status or issues can also be found.

There are many things done by the information brokers. The jobs are not limited in collecting and selling individual data. In some cases, the information brokers can also make certain researches to see and predict personal tendencies or behaviors. These kinds of service are usually needed for the sake of marketing or other specific purposes.

Also read "What is Customs Broker? Definition and Example".