Data negotiations refer to the process of discussing and reaching agreements with data vendors or service providers to optimize costs, resources, and value delivered by data tools and services. This involves understanding the company's data needs, evaluating the costs and benefits of various data tools, and working with vendors to tailor packages or offerings that align with the company's budget and objectives. Data negotiations aim to create a win-win situation for both the company and the vendor, ensuring that the data team operates efficiently and delivers maximum value to the organization.