Alternative data, commonly known as "big data" and also referred to as "data exhaust," are information gathered from non-traditional sources. Traditional data sources, and, consequently, alternative data sources, vary by industry. In the financial services industry, for example, traditional sources include financial statements, SEC filings, press releases, and company presentations. Alternative data sources include social media and sentiment data, web traffic and app usage data, credit/debit card transaction data, and geo-location, satellite, and weather data.
Alternative data are usually voluminous and less structured than data from traditional sources; nevertheless, their value lies in their analysis, which can yield additional insights into an industry. Alternative data can be broadly categorized into data generated by individuals, data generated through business processes, and data generated by sensors.
Alternative data are used across multiple industries and may be accessed through in-house web scraping or through acquisition and third-party licensing from a data source provider. The BFSI (banking, financial services, and insurance) sector, which includes hedge funds, mutual funds, private equity funds, pension funds, unit trusts, and life insurance companies, dominates the alternative data market in terms of end user. The IT and telecommunications sector is another key market.
*Note: Currently, we do not actively cover this industry, but we have identified it as a potential industry to add to our coverage.
Spire is a global provider of space-based data, analytics, and space services, offering access to unique datasets and powerful insights about Earth from the ultimate vantage point so that organizations can make decisions with confidence, accuracy, and speed. Spire uses one of the world’s largest multi-purpose satellite constellations to source hard to acquire, valuable data and enriches it with predictive solutions. Spire then provides this data as a subscription to organizations around the world so they can improve business operations, decrease their environmental footprint, deploy resources for growth and competitive advantage, and mitigate risk. Spire gives commercial and government organizations the competitive advantage they seek to innovate and solve some of the world’s toughest problems with insights from space.
Geo-location/foot traffic data:
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