What is Alternate Data – The Complete Guide

Data gives you power and the more data you have, the more profit you have. Many investors already see that alternative data is just as essential to their financial analysis and insights as fundamental data.

Alternative data has been used in many different industries to improve customer experience, increase revenue, and reduce costs. An example would be a large retail chain that uses alternative data to help customers find the best deals on the products they want to buy. Another example would be an online retailer that uses alternative data to determine which product categories are selling the most and what types of offers are most effective at attracting new customers.


1. What are optional data?

Alternative data are non-traditional data that can give a lot of hints and insights. Examples of alternative data sets include credit card transaction data, product reviews, social media, web traffic, etc.

2. How can it be used?

Nowadays, more than 50 percent of hedge funds and investment firms are using alternative data to gain some competitive edge, with consumer patterns, expert networks and web-crawled data being the most commonly used methods. The analysis with these alternative data is getting better day by day by the use of modern techniques like AI-ML.

3. Optional data types.

  • social media data
  • web/mobile data
  • credit card data
  • geolocation data
  • public data

To try and learn more about ALTER DATABASE please refer to this great article by Proxycurl Read this

4. How can you use Proxycurl to get alternate data?

Proxycurl is a robust data company with the capability to handle unstructured data. What sets it apart is its core strength in the data enrichment capabilities of people and companies – providing insight into people, profiles, company profiles, work and personal email addresses and contacts, jobs information and much more.
Proxycurl provides a wide variety of APIs through which you can have a lot of available endpoints to access the data of companies, people, companies etc.

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You can learn more about their documentation read here

conclusion

Alternative data can be used in many areas and the insights it provides can be useful to many companies. Obtaining this data has never been easier with the technologies available today.

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