21 – M4 L1B 22 Alternative Data V1

In the history of finance, there has been a continued search to find new sources of information and to derive meaning from them. For instance, before the 1980s, stock traders used to get their financial data from newspapers. However, stock exchanges began to use computers to automate their record keeping and Bloomberg terminals were invented to deliver financial data directly to trading desks. Similarly, finance professionals had been collecting and analyzing data that goes beyond financial statements and stock quotes. These include data collected on the Internet such as social media or online reviews. This also includes satellite images, consumer transactions, and mobile app usage. Any data that are relatively new sources for generating trading signals such as data not including price volume, financial statements, or analysts reports are referred to as alternative data.

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