ASK any group of investors what one gadget they cannot live without, and they’ll likely point to their Bloomberg terminals. Its data services, and its rivals’, make it easy for analysts to scan through financial data generated by thousands of companies. The terminals’ ubiquity means that every investor needs one. It also makes it hard for punters to find any competitive advantage. For investors in search of an edge, the emerging world of “alternative data” is attractive.
Why investors want alternative data
Today they promise a leg up; soon they might count as a necessity
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