Third-party data is any data you receive that is not yours, whereas first-party data is collected from your proprietary sources. The third-party data information you collect is generally the same, but someone else did the work. It usually consists of buying data from another company, partnering with a business to earn a mutual benefit, and/or researching available information.
Predictive modeling analyzes the characteristics of business or consumer leads to find what characteristics (or signals) correlate with desired behaviors (such as purchasing your product), and then creates and tests a statistical model to assess the probability of future behaviors and outcomes. The model is then used to predict,