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Showing content from https://support.google.com/google-ads/answer/6072708 below:

About business data and data feeds

Important

Starting June 30, 2022, you’ll no longer be able to create or edit ad customizers for expanded text ads as the creation of new expanded text ads will no longer be supported.
You’ll also no longer be able to upload or edit the business data for expanded text ads.
Existing ad customizers for expanded text ads will continue to serve until May 31, 2024.
We strongly encourage you to transition to responsive search ads.
Learn more about Making it easier to show the right message on Search.

Business data is where you provide and manage multiple data sources (also known as data feeds) for ads, assets, and targeting for different campaigns across Google Ads. Business data lets you review the upload history and the status of your ads at a glance. You can also review the overall clicks, impressions, and campaigns associated with your business data feeds. Business data is also where you can create ad customizer attributes for responsive search ads.

What's kept in business data

When you click the Business data section of your Google Ads account, you’ll find your “Data feeds”, “Upload history” and “Ad customizer attributes”.

Data Feeds Ad customizer data for expanded text ads

Ad customizers are parameters that adapt your text ad to the context of a user’s search (for ads on the Search Network), or the website someone’s browsing (for ads on the Display Network).

Ad customizers use ad customizer data to dynamically modify ad text.
You upload your ad customizer data within the "Business data" section of your Google Ads account.

Dynamic ads feeds

If you want to dynamically populate your ads with your products or services, you'll create a dynamic ads feed. This type of feed is an inventory of your products or services that's sourced to create ads.

Rows are products or services. Columns are attributes of each product or service, such as images or prices.
You upload your feed to the Business data section of your Google Ads account.
You associate your feed with your dynamic remarketing campaign.

Learn more about Dynamic remarketing: Create a feed for your responsive ads.

Ad asset data

If your ad assets have been upgraded, you won't find the new ad asset under "Business data". Learn more

About assets upgrade

For legacy ad assets, Google Ads creates ad asset data in the "Business data" section of your Google Ads account. However, once your ad assets have migrated, your ad asset data won't be stored there. You might find, for example, a “Main sitelink feed” with the sitelink text and URLs of your sitelinks assets.

Click on any item for the approval status, policy details, and performance stats of that asset.
Use this interface to edit the assets you share across multiple entities (like campaigns or ad groups).
You’ll get only one entry for the data associated with each asset, even when you share that asset across entities.
You can edit the data for your assets. To add new assets, visit About assets.

Ad customizer attributes for responsive search ads

Unlike ad customizers for expanded text ads, you need to define the individual details about your ad that you’d like to customize before you upload the content for your customizer. For example, product name and price are all “attributes” that can be customized at scale. These attributes can be used across your account.

Learn more about how to Create ad customizers for responsive search ads.