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Data brokering refers to the practice of obtaining information on users, aggregating it, and enhancing it to provide to clients or customers. Over 4,000 data brokering companies are at work worldwide collecting and analyzing consumer data.
Data brokering as a practice has become much more valuable with the implementation of new technologies including the cloud, software as a service (SaaS) and Internet of Things (IoT). With much more information available, there's a need for companies to manage dedicated brokering services — not just to collect and consolidate data from various sources, but to clean it, or enrich it or make it consistent and more universally useful to third parties.
At the same time, data brokering raises all sorts of questions about privacy and security, especially in light of new guidelines and laws like the European GDPR.