Facebook is planning to roll out a new update of its Ad Preferences tool which will simplify the listings into three defined categories, and provide more insight into how any changes you make to such will impact your on-platform experience.
As outlined by Facebook's Rob Leathern, the new update will clarify what users can control, and how each specific element relates.
"Over the next few months, we’ll be rolling out a redesigned Ad Preferences. None of the transparency and controls are going away, but now it’ll be easier to navigate."
As you can see in the above screenshots, the listings will be split into specific sections for:
Advertisers - Provides insight into specific advertisers, and ads you've been shown
Ad Topics - Enables you to see which topics Facebook thinks you're interested in, and to opt out of any categories
Data - Displays how Facebook gathers data about you for ad targeting, which you can also choose to remove from consideration within this listing
These tools are already available within the current Ad Preferences listings, but the new format will make it easier to control each specific element, and understand what any changes you make will have, with more detailed descriptions on each, outlining its part in the broader process.