Data for Finance

  The finance industry has long used data as part of its operations. Investments can be a risky business after all, and data can be used to limit the risks. Many financial companies have gotten used to employing data from more traditional sources as part of their analysis and assessment. Some of these traditional sources can include SEC filings, customer credit scores, press releases, and more. As the world has become inundated with more and more  data , the traditional data sources, while adequate, only give a portion of useful information. The finance industry can do so much more if they have more data. That’s where alternative data comes in. According to a 2020 survey from Dataminr, around 79% of institutional investors say they use some type of alternative data. It’s clear that many within the finance industry are turning to alternative data and seeing the results they want. What is Alternative Data? Put simply, alternative data is data that has been collected from anywhere outside