The document discusses alternative data and its importance. It defines alternative data as data derived from non-traditional sources like mobile devices, websites, and sensors. This data can provide insights that complement traditional sources and help with decision-making. The document outlines 8 types of alternative data and 3 ways to access it, including hiring a data scientist, partnering with a third party, or using web scraping software. It provides examples of alternative data's applications in advertising, tracking corporate revenues, risk assessment, and more. Overall, the document promotes alternative data as a valuable new resource for businesses seeking a competitive edge.

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Big Brother Analytics®. All Copyrights Reserved 2021. BBA is Owned and Developed By MediaSci
Why is
Alt. Data
So Important?
Tutorial of Alternative Data

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Introduction
• In the world of business, it’s all about a competitive edge. As long as you
have a competitive edge, you can race ahead and accomplish
phenomenal growth.
• Until recently, data was considered to be such an edge. However, as
businesses have all got the same kind of access to the traditional sources
of information, the question is, how to acquire an edge over others?
• In comes Alternative Data!
• Yes, Alternative Data is the new wave in the world of data. It’s something
that big businesses have begun to leverage to get ahead of the market.
• Don’t get me wrong. It’s not the replacement of the good old data. It’s
just something that complements the traditional data and powers your
decision-making.
INTRODUCTIOH

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INTRODUCTIOH
• Since Alternative Data has found some of the fascinating applications
in a wide array of areas, it has emerged as the new buzzword in the
world of business and industry.
• This is the reason why Alternative Data could turn out to be the game
changer for business strategy and growth in the times to come.
• However, you might wonder what Alternative Data actually implies
and what it means for the world around us.
• No worries.
• We have put together this tutorial of Alternative Data that details its
salient aspects and varied applications

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What is Alternative Data? • The growing use of mobile
devices, satellites, websites,
sensors, there’s a huge stockpile of
data that is being created.
• This data has the potential to
complement and assist the
decision-making..
• Alternative Data can provide
insights where the traditional data
sources may fail. There’s a growing
emphasis on gathering Alternative
Data. Once collected, Alternative
Data can then be mined for
business insights.

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8 Vital Types of Alternative Data

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Huge amount of digital OSINT data
availed by the so many apps already
active in the MENA market, and have
frontend & social presence.

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Alternative Data
Eco-System

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3 Major Ways to Access Alternative Data
• As mentioned earlier, Alternative Data is derived from a variety of sources such as mobile devices, websites,
satellite images, etc. It means that one would encounter vast quantities of unstructured data. Accessing
Alternative Data would require mining this unstructured data and glean actionable insights.
• There are three major ways to get hold of alternative data.
• One would be to get a data scientist on board. You will need to have a data scientist who will churn these
large chunks of data in order to eventually come up with the insights you need. However, it depends on your
budget because an average data scientist would cost you $100,000 or more per year.
• Second would be to team up with a third-party specializing in this kind of niche such as Alternative Data.
All you need to do is state your needs and they will procure the Alternative Data that you need. It could be
product reviews or online browsing activity or any other type of Alternative Data. This would also come at a
cost because this sort of firms would charge hefty fees for providing Alternative Data.
• Third would be to get hold of some robust web scraping software that can extract any and every kind of
data that you need. This is relatively more cost-effective. It could help you customize and provide tailor-
made Alternative Data that you need. It can save a lot of time and energy of coordinating with an outside
agency when you have the software right with you.
• In these diverse ways, it is possible to access Alternative Data and glean the valuable insights you need for
your business. Depending upon your specific requirements and budget, you can leverage any of these ways.

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•There are diverse and interesting
applications of Alternative Data
that are being explored at the
moment.
• Alternative Data is likely to
influence all possible fields in the
next few years because of its
potential for providing actionable
business intelligence.

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1. Powering the Advertising
2. Tracking Corporate Revenues
through Web Data
3. Charting Business Risks
4. Tracking Credit
5. Understanding Consumer Purchase
Behavior
6. Employment and HR Trends
7. Environmental, Social and
Governance (ESG)
8. Decoding Expert Views
9. Tracking the Business Growth
through Location
10. Connecting the Dots of Business
through the Internet of Things (IoT)
11. Analyzing Online Search for Consumer
Interest
12. Following Revenue Trail through
Pricing
13. Mining the Public Sector Data for
Socio-Economic Insights
Reasons Why Alternative Data is Important?

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