Introduction
Nowadays, alternative data is as reliable and essential in the finance and investment industries as traditional data. It has played a very big role in the growth of many companies. Don’t worry if you don’t know what alternative data is, I’ll explain everything you need to know about it in this article.
What is Alternative Data?
Alternative data refers to non-traditional data sets that investors use to guide their investment strategy. These data sets can be used for pre-business investment analysis and also help investors monitor a company's growth. Examples include social media sentiments, product reviews, weather data, etc.
Want to know how these data can be used to guide investment strategies, financial analysis, business or company growth, etc? Let’s get started.
How to use Alternative Data
Artificial Intelligence and Machine Learning are essential in Alternative Data. Today, professionals and decision-makers can benefit from proactively creating internal guidelines for data operations. These can be used to predict outcomes that can help a company’s growth, make financial adjustments, etc.
Types of Alternative Data
Various types of alternative data sets include:
Social media data
Email receipts
Location data
People and company data
Mobile application data, etc.
To gain more knowledge and insights about Alternative data, refer to this wonderful article by Proxycurl
Using Proxycurl to fetch Alternative data
Proxycurl is a distributed crawling service made for developers to save time and costs. It has proven capacity in handling unstructured data with its core strength in data enrichment capabilities of people and companies. It also offers insights into people's and companies' profiles, contact information, job details, etc.
Proxycurl API is very easy to use, every request returns real-time and reliable profile data with a credit base as low as $0.01 per profile! Follow this link to learn more about Proxycurl.
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