Power Your Analytics with Alt-Data and ML
The benefits of employing alternative data are seemingly innumerable. Among the most important is its ability to derive proprietary real-time signals providing alternative viewpoints, unforeseen insights or perhaps both. The ability to go beyond standard financial data to understand company performance, market dynamics or consumer behavior is extraordinarily valuable for companies and investors who desire to plan and execute in a calculated, enlightened and intentional way with mitigated risk.
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Evaluate existing infrastructure and select from over 400 alternative data sources.
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Collecting and analyzing alternative data sets certainly requires navigating any number of difficulties. This includes the procurement of expert personnel and cutting-edge technologies like analytics, fluid data architecture and data science platforms, as well as testing tools to actually leverage meaningful insights gleaned from the data.
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AI tools such as ML and Natural Language Processing (NLP) are used for analyzing alternative data, unlocking its insights and value and boosting the growth of these assets. ESG (Environmental, Social, Governance) data is an key example of alternative data where multiple data providers in the public markets are supplemented with the use of multi-modal AI to collect data used by private markets that is unavailable through existing data providers.
Starting or enhancing an alternative data platform involves numerous benchmarks: design, plan, source data, integrate, transform, integrate, use ML, deploy, support, evaluate. With such specialized tools and skillsets involved with mining and distilling alt data, many understandably outsource the function. A few key considerations for a prospective professional services partner involve their ability to quickly integrate new solutions with existing infrastructure; cost of data feeds; and proving what they deem to be optimal, uncorrelated data sets genuinely add quantifiable value rather than noise. Below is AlphaMille’s roadmap to Alt-Data implementation powered by Machine Learning.
Choose from 400 Alt-Data Providers
The global alternative data market size was valued at $2.7 billion in 2021, according to Grand View Research. Alternative Data is expected to grow at a compound annual growth rate of 54.4% from 2022 to 2030. More on alternative data types.
Key market players have been developing high-quality and high-value data sets thorough R&D and continuous innovation. There are over 400 providers, including 1010Data, Neudata, Eagle Alpha, Advan, Dataminr, Factset, Earnest Research, M Science, Preqin, RavenPack, Thinknum Alternative Data, UBS Evidence Lab, YipitData and others.