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Bloomberg’s Exclusive Alternative Data for Advanced Analytics

What is The News About?

Bloomberg Data License now includes access to Bloomberg’s proprietary Bloomberg Second Measure (BSM) analytics feeds for transaction data, according to the company. By integrating this high-quality alternative dataset with Bloomberg’s conventional Data License material, data professionals and quantitative researchers may easily gain early insights into consumer company performance with better analytical depth.

Insights into business performance and customer trends are provided by the BSM data analytics feeds, which are fueled by billions of U.S. consumer credit and debit card transactions. The lag period is three days. The data used for the transactions comes from a segment of a larger U.S. consumer panel that includes over 20 million people. This segment includes 4,000 brands from different industries, as well as over 3,000 public and private companies.

Bloomberg is making an additional effort to cater to quant customers who are looking for cutting-edge data solutions to improve their investment strategies with this advancement. It comes after Bloomberg’s Company Financials, Estimates, and Pricing Point-in-Time solution debuted. That platform offers historical point-in-time data and connects conventional company data with alternative sources of information by integrating varied datasets.

Why Is It Important?

Starting in September 2023, the ALTD function on the Bloomberg Terminal began using the BSM transaction data analytics feeds as its primary data source. By incorporating alternative data with conventional desktop resources including market data, broker research, estimations, and news, this program hopes to make alternative data more accessible to a wider audience. Bloomberg is committed to helping its clients find more innovative uses for alternative data and is investing in this space to do so.

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Industry Comments

Thomas Owen, Managing Director at MariTrace, said that MariTrace receives about 1.6 million messages per hour from vessels worldwide via satellite and terrestrial receivers. He mentioned that they had spent years refining the process of analyzing this vast stream of data. However, he noted that creating a repository of information from their bespoke datasets was only part of the process. Working with Bloomberg allowed them to deliver this data directly to investors seamlessly and effectively, without unnecessary hassle or barriers for them or the end users.

Clinton Libbey, Managing Director at Kumi Analytics, said that Kumi Analytics has collaborated with economists and earth observation scientists to develop an indicator signal for changes in economic activity, specifically GDP measurements, by tracking night light radiance values worldwide. He explained that their signal data is a unique leading indicator that, when combined with additional contextual datasets, presents a comprehensive and nuanced story. He added that they were working with Bloomberg because its market-leading data offering provides a fuller picture to best serve investors, and Bloomberg’s impressive reach helps them bring their data to sophisticated investors.

Caroline Ward, the Alternative and Historical Data Product Manager at Bloomberg, said that in recent years, the demand for alternative data had greatly increased as firms incorporated sophisticated insights into their investment strategies. She added that this demand grew even more during the COVID-19 pandemic because information that was once an added benefit had become essential for navigating a disrupted economy. Caroline also mentioned that the expansion of Enterprise Access Point provides clients with direct access to a wide range of alternative data along with Bloomberg’s traditional financial data, enabling them to make well-informed investment decisions.

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