When looking at reporting, does the first and last activity signify internal touches, or does this include activity from recipients as well? So, if the campaign was set up months ago, but a recipient of the email happened to open it and click today, would the "last activity" then account for that click?
Which report are you talking about?
I think this is from the Email Performance Report. It means the first time anyone did something on the email and the last time someone did.
So if you send 10,000 emails, Joe could be the first person to open, click, bounce, etc. and Aimee could be the last person 3 days later.