Alternative Data Providers

Alternative data (also non-traditional or orthogonal data) is collected from non-traditional sources, for example satellites, sensors, and the web. However, what counts as “alternative” depends on the industry’s standard data practice. When a data source begins to be widely used within an industry, it is no longer considered alternative, but rather fundamental for meeting the industry’s standards. When this data type is analyzed, it provides information complementary to traditional data sources, allowing a business or organization to gain unique insights and a competitive advantage.

We’ve compiled a custom list of alternative data providers which you can use to find and compare sources during your data hunt.

Learn more about Alternative Data

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Learn more about Alternative Data

Alternative data is broadly applied within financial services. Investors using alt data can develop a near real-time understanding of how a business is doing, rather than having to wait for periodical company updates. With this, VC or credit industry firms can determine growth potential on indicators besides credit history – for example, social media sentiment or web traffic.

These are 9 commonly named types of alternative data

  • Web data (search trends, social media sentiment, email receipts)
  • Mobile data (app usage, telephone history)
  • Satellite data (satellite images, weather forecast, traffic images)
  • CCTV or drone imagery (traffic images, visitor counts, behavior)
  • Sensor data (wifi tracking data, bluetooth beacons data, but also sound, air-quality and seismic sensor data)
  • Traffic data (license plate recognition and toll-road data, but also ship and plane movements)
  • Credit-card data (transaction history)
  • Banking records (transaction history, loans)
  • Corporate data (sales, finance, and human resources data)

Top five use cases

  • GENERATION OF ALPHA
  • Complementing traditional data sources for making investment decisions
  • Providing more comprehensive data for forecasting with business intelligence software
  • Driving efficiency and effectiveness in the health-care industry
  • Yielding ideal crops in the precision agriculture industry
  • Providing an understanding of a territory through sensors and cameras for military purposes

Sources and data collection

This data type can be sourced from:

  • A company’s internal data - businesses produce records of banking, credit card transactions, commercial transactions and the supply chain
  • Technological installations and instruments - sensors and cameras aggregate detailed footage and data through wifi tracking and Bluetooth beacons signals (geospatial data)
  • The web - companies gather external data on web traffic and social sentiment via web-scraping tools