Alternative data is changing finance!
Today, roughly half of all investment firms use alternative data, according to both the AIMA report and another recent survey by Bank of America. And that number will likely continue to grow, as more firms have invested in new technology during the pandemic. The good news is Proxycurl has made accessing alternative data for people and companies much easier through their services.
What is Alternative Data?
Alternative data is a term used in the financial services industry to describe data (information) collected from non traditional data, external data sources, generated either by individuals, business processes, or sensors. While usage is becoming more common, alternative data supply is still in a nascent stage. Increasingly, alternative data users are frustrated in the search for trusted and reliable suppliers.
Type of alternative data sets includes:
Social Media Data
Web/ Mobile Data
Credit Card data
Geolocation data
Public data
To Learn more about alternate data refer to this great article by Proxycurl Read This
Integrating Alternative Data
While finding and gaining access to a new and interesting data set is challenging, implementing an investment strategy based on what is often terabytes of data is even harder. Quickly integrating the purchase data into the trading and analytics technology already on the desk is also essential. People and company data, such as those provided by Proxycurl, Steven Goh, are the most commonly Suppliers that provide strong data with a demonstrable capacity for handling unstructured data. Its core strength in data enrichment capabilities of people and companies - offering insights into people profiles, companies profiles, work & personal email addresses and contact, jobs info, and more sets it apart.
Proxycurl offers excellent APIs that can drive and power the data-driven applications of hedge funds and investment companies. These APIs are extremely easy to use, with attractive pricing too. They are credit-based for as low as $0.01 per profile enrichment and thus do not tie users up with bulky, heavy subscriptions or contracts like many others. You can learn more on their documentation Read Here.
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