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Alternative Data Market: Evolution Contours

The groundswell of attention that alternative data has garnered among investors stems from the growing role of these non-traditional data sources in evaluating the health of a company or the return on investment. These comprise data points that are obtained outside of traditional sources that are typically present in financial statements, management presentations, press releases, and SEC filings. The interest in the alternative data is relatively a recent phenomenon, but in recent years have gathered incredible steam.

The growth of the alternative data has pivoted on the growing business proposition of vast volumes of data sitting on personal devices waiting to be exploited for informing financial decisions. Companies are growing their stakes in offering products and services that enable end users to collect, clean, analyze, and offer helpful insights for guiding decisions on investment, fund trading, and risk management. Preliminary sources of alternative data comprised of credit card transactions, geolocation data from mobiles, satellite images, web scraped data, and weather forecasts.

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Alternative Data Market: Current Avenues and Growth Boosters

The regulatory landscape pertaining to obtaining of data, its use, and its dissemination has led to sourcing of data has been constantly evolving. Regulations such as GDPR and California Consumer Privacy Act (CCPA) mandates that all types of data are obtained in a scientific manner and that complies with privacy regulations. The factor has enormously shared the growth dynamics of the alternative data market. The demand has witnessed an uptick from the adoption of alternative data analysis platforms for credit card transaction data.

A major consumer proposition underlying the rise in demand is the significant attractiveness of data in predicting sales and predicting economic signals that may guide future purchase intentions. This has fueled investment by hedge fund managers, thereby boosting the revenue potential of players in the alternative data market. Growing demand for advanced platforms by data scientists to make sense of non-traditional data is opening up new investment avenues for players in the alternative data market. Over the coming years, hedge funds will witness growing use cases of alternative datasets, thereby fueling demand for new platforms in the alternative data market.

Alternative Data Market: Competitive Scenario

A growing number of players are offering platforms that may glean through data residing in IoT devices, satellite imagery, and social media sentiment. Companies have been enamoured of the vast promise alternative data holds for getting insights into environmental, social and corporate governance data.

Players aspiring for sizable stakes in the alternative data market are keen on offering platforms that help end users leveraging machine learning tools and NLP for analysis of alternative data. Top players are fervently tapping into AI-enabled data analytics tools.

Some of the key players in the alternative data market are VisibleAlpha, ICEYE, Enigma, Slice Intelligence, Affinity Solutions, UnionPay, Second Measure, American Trucking Association, JWN Energy, Quandl, Thinknum, RavenPack, Quest Mobile, and Orbital Insights.

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Alternative Data Market: Regional Growth Dynamics

North America is a highly lucrative alternative data market, with growth being propelled by the rise in use cases of alternative data generated from credit card usage, web receipts, web traffic, web data, and email receipts. The prospects in the regional market are increasingly fueled by growing attractiveness of alternative data among hedge fund managers. Extensive research in data science models has opened up incredible avenues in Asia Pacific alternative data market. Europe has also been a promising market. The rise in use of alternative data for ascertaining the health of economy in developing countries of the region will also boost the prospects of the market. The evolving data privacy regulations in Europe, however, have hampered the prospects to an extent.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Alternative Data Market

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