Bloomberg confirms demand spike for alternative data

Mike Madarasz
By Mike Madarasz On September 18 2020 On financial service, Data
Investment researchers have looked to social media for over a decade to learn about what’s trending, discover tips and breaking news. Aggregating insights of traders exchanging ideas, identifying trends and sharing any edge they can find on the market, using alternative data, has long piqued the interest of the Financial Services community.  

Total spending on alternative data by buy-side firms (mutual funds, hedge funds, pension funds, private-equity firms and the like who buy securities or other assets for their own or their clients’ accounts) will jump from $232 million in 2016 to a projected $1.1 billion in 2019 and $1.7 billion next year, according to AlternativeData.org. And clearly showing no signs of slowing down anytime soon.

Based on the demand I am seeing, it's no surprise that these sources have jumped to the front of the line as an essential source of information for big investors trying to figure out what "amateur stock dabblers" are doing.

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