Alternative data has quickly become a crowded niche for financial services firms and large institutional investors seeking nontraditional information sources to gain a competitive edge. But what exactly is alternative data? Tech Target brought us this interesting information in their article, “Alternative data, multimodal AI tech produce new insights.”
Alternative data is information gathered from non-traditional information sources. Often nonfinancial, alternative data is unstructured text and imagery from news feeds, social media, online communities, communications metadata, satellite imagery, geo-spatial information and other sources that can help derive unique and valuable market insights.
Using alternative data has many benefits, but can involve some significant problems. These include ensuring data quality and securing usage rights for video and photographic images that include people, trademarked products or other proprietary information.
Maintaining quality improves the usability of the data. However, at the end of the day, content needs to be findable, and that happens with a strong, standards-based taxonomy. Data Harmony is our patented, award winning, artificial intelligence (AI) suite that leverages explainable AI for efficient, innovative and precise semantic discovery of your new and emerging concepts to help you find the information you need when you need it.
Melody K. Smith
Sponsored by Access Innovations, changing search to found.