Product Ownership Data: Best Product Ownership Datasets & Databases

What is Product Ownership Data?

Product ownership data is information about the individuals or households which own certain products. These products may be in the form of tangible products or intangible products like videos or data. Ownership of these products is determined if the user has an official receipt or any evidence validating ownership. Product ownership data is based on POS information, and it is used to gain insights into the market for the product in question.   
 

How is Product Ownership Data collected?

Product ownership data is gathered through different sources. These sources include online surveys and forums, social media platforms, online news articles, companies’ sales reports, and retail stores. These sources analyzed and organized product ownership information and present it in the form of graphs, charts, statistics, and ownership analysis. Data providers compile product ownership data in datasets.
 

What are the typical attributes of Product Ownership Data?

Product ownership data includes the following attributes:

Product attributes: this refers to the type of products owned. It may be in the form of tangible or intangible products.
Ownership attributes: this refers to the personal information of an individual, including geographical location and product preference.
**Price attributes: **this refers to the price of the product – historical and current, as well as its availability on the market.

What is Product Ownership Data used for?

Product Ownership Data is beneficial to marketers and advertisers as ithelps them gain insights about customer preferences. Marketers also used this data to target a specific audience based on popular products in an area. Advertisers used this data to convert more sales according to their tailored advertisements. Companies can also use product ownership data to increase brand awareness and brand recognition. Since product ownership concerns customers, this data helps complete customer information datasets. Having product ownership data is a valuable tool for every business in the market research phase to gauge product demand.  
 

How can a user assess the quality of Product Ownership Data?

Product ownership data must be accurate, free from error, and updated regularly. The best quality product ownership dataset will have the following quality aspects:

• Applicable: this refers to the applicability of data to serve the user’s purpose: it must provide information to the questions the user wants to answer.
• Reliable: for product ownership data to be high quality, it needs to come from credible sources. These sources must be verified and validated by certified authorities. 
• Timeliness: this refers to how regularly the data provider updates their product ownership data.