Observations or conclusions about consumer behavior derived from a sample which is representative of a larger population. Often panel data is gathered through surveys or interviews. Panel data is less expensive than collecting first-party data, useful for directional information, and particularly suited for reaching broad audiences, like with a brand campaign or a new launch campaign. Panels are samples, so they are usually derived from less than 1% of the population. This can make them a weak source of information about niche audiences because there might not be a statistically significant sample size to build off of. For other data collection types, see direct data.