(CNN/Money) Data collected from your smartphone is shaping the future of marketing — and cell phone companies are cashing in.
What your phone knows about you — where you are, what you’re searching for and what you like — is mouthwatering for advertisers. Combined with other third-party data, including your age and salary range, marketers are using cell phone customers’ information to make decisions about how they advertise.
Though all four major carriers sell their customers’ smartphone data, Verizon’s (VZ, Fortune 500) year-old Precision Market Insights program is the farthest-reaching. Here’s how the Precision program works, according to Verizon spokeswoman Debi Lewis: