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Alternative Data for Finance â Categories and Use Cases
The previous chapter covered working with market and fundamental data, which have been the traditional drivers of trading strategies. In this chapter, we'll fast-forward to the recent emergence of a broad range of much more diverse data sources as fuel for discretionary and algorithmic strategies. Their heterogeneity and novelty have inspired the label of alternative data and created a rapidly growing provider and service industry.
Behind this trend is a familiar story: propelled by the explosive growth of the internet and mobile networks, digital data continues to grow exponentially amid advances in the technology to process, store, and analyze new data sources. The exponential growth ...
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