Yup, I'm sure.
Carrier data is all about the servers you connect to ("Someone who shopped on Ocado also drives an Audi, so let's target Audi dealerships with Ocado offers" etc), the areas you've been, number of social media sites you connect to etc.
The location data isn't good enough to drive traffic maps, since it's working from cell towers. Your phone is not constantly sending fine detail location back to your carrier. Google Maps updates every 30s or so, and can tell you whether a traffic jam starts one side of a junction or the other - that ain't cell tower info.
Biting the hand that feeds IT
