Alternative datasets are now available through Bloomberg’s “ready-to-use” data website, Bloomberg Enterprise Access Point.
Adding alternative datasets allows Data License clients to easily access and incorporate new, non-traditional forms of high-quality data from Bloomberg and market leading alternative data providers including Thasos, Apptopia, TipRanks, PredictWallStreet, RS Metrics, Orbital Insight, OWL Analytics, Predata, Evaluate, 280First and Symphony Pharma.
Financial firms are increasingly using previously cumbersome, inconsistent, non-traditional data to inform their investment decisions and risk management strategies. While firms recognize the value of newer datasets for alpha generation, they face challenges like data connectivity, varying quality and ease-of-use. By offering clients a singular access point for finding and receiving reliable data, alternative and otherwise, Bloomberg eliminates costly and lengthy procurement processes, speeding up time to value and enabling easy integration to existing systems.
“Our clients are looking to integrate alternative data into their investment process. As Bloomberg is a leading source of reference and pricing data, the integration of alternative data into the same Bloomberg Enterprise Access Point and Hypermedia API is compelling,” says Gerard Francis (pictured), Global Head of Enterprise Data at Bloomberg. “We make it easier for our clients to contract, ingest, test and normalise their alternative data. Firms can come to one destination for data that can meaningfully inform investment strategy.”
Currently, Bloomberg Enterprise Access Point features more than 20 alternative datasets with plans to add many more over the next year. Datasets include insight on metals inventory, equities blogger sentiment, drug approvals, consumer footfall and parking lot activity, construction permits, geopolitical risk, and app utilisation.
Alternative datasets are available in raw formats that can be easily integrated into data models. Quant investors can seamlessly choose their programming languages, interfaces, and database software.
An alternative data catalogue, available through Bloomberg Enterprise Access Point, eases the burden for internal data procurement teams who are tasked with contacting vendors, reviewing data samples and history and testing data connectivity. This streamlines data acquisition and ensures consistent delivery.
“Asset managers and quant investors are constantly seeking new data streams to analyse and assess as they aim to generate alpha for their clients,” said Matthew Rawlings, Chief Data Officer for Enterprise Data at Bloomberg. “Alternative data vendors offering their data through Bloomberg Enterprise Access Point can meet growing client interest while removing any existing procurement-driven friction. From there, clients can integrate the data confidently and efficiently into their models.”
