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First Party Data is a Profit Generating Powerhouse

IRP Trading Terminal offers a powerful, unblockable alternative - with analytics and trading capabilities based on profit.
Author
07 February 2023 - 3 min read

IRP Trading Terminal replaces Google Analytics with an unblockable alternative

In a Privacy First world - country by country - the sun is setting on Third Party analytics. Companies ability to harvest European consumer data is in rapid decline. Third Party analytics are being blocked legally and technically to greatly weaken its data integrity. 

Meanwhile there is a growing realisation that First Party data is accurate, legal and unblockable. More than just replacing Third Party analytics, ecommerce has woken up to the fact that First Party data contains more value and potential.

Merchants are adopting this hyper-connected, single view of customer data to make them more competitive.

ONLY FIRST PARTY DATA IS LEGAL AND UNBLOCKABLE

Regulation & Technology Makes Third Party Analytics Increasingly Redundant

Early in 2022 EU legislators declared using Google Analytics without consent to be illegal due to privacy and GDPR consent violations. A switch from Cookies to Javascript posting of data by Google Analytics 4 will not solve the problem.  Regulatory factors, GDPR and Apple’s recent iOS consent changes have further undermined Third Party data’s value, accuracy and legality.

With Third Party data increasingly undermined and cookies without consent being phased out in 2024, First Party data has now become the new ecommerce analytics frontier for merchant continuity and success.

Beyond the EU, privacy legislation is moving against Third Party systems in the wake of stricter regulations restricting technology’s ability to collect customer data across the world.

FIRST PARTY DATA ANALYTICS IS THE NEW FRONTIER

FIRST PARTY Data cannot be blocked, is Real-time, Accurate and Actionable

Merchants sit on data that holds critical value, but many are unable to make that data work for them. As ecommerce merchants increasingly realise that First Party data contains the most value of any data source, they require tools that allow them to actively mine this information.

By having this data source available at all times merchants can recognise and respond to the market in real time. This accuracy and responsiveness has the power to put profit at the centre of ecommerce operations.

First Party data accelerates the timelines of data availability for 'dynamic offer' and 'trading ahead of the market' which create a competitive advantage.

Roadmap 2023 - Products and Service Market

Conclusion

First Party data is legal because the customer has chosen to be on your online store and to consume its content.

As Third Pary data inexorably declines, First Party data (as the legal and unblockable alternative), has become the new ecommerce frontier. It is empowering Merchants to trade ahead of their market.  First party data contains significant value that can be released by products like the IRP Trading Terminal.

IRP technology and products are built MERCHANT FIRST, Data-First and Profit-First.

MERCHANT FIRST, DATA-FIRST, PROFIT-FIRST

Download the Whitepaper

Solving Ecommerce Profitability


GDPR Cookie Consent | GDPR - Attribution | Market Data

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