Alternative data has firmly entrenched itself in the finance industries across the globe. For businesses that are continually looking to improve their decision making, the availability of non-traditional sources has been a boon as it provides previously untapped insights.
A significant part of alternative data is collected through web scraping. Up to this point, however, it hasn’t been clear how widespread the use of both non-traditional data sources and web scraping has been in the finance industry.
While globally the spend on alternative data has likely breached $2B, how much of that is considered valuable by the industry has also been unclear. Oxylabs, in cooperation with Censuswide, decided to investigate how alternative data and web scraping is being utilized, evaluated, and understood in the finance sector.
Oxylabs conducted a survey with 500 UK-based and 501 US-based senior data decision-makers from across the respective region’s thriving financial services sector. We inquired about data management practices, collection methods, current trends, and many other practices. Finally, our survey draws comparisons and conclusions based on the differences between the regions.
Data is the lifeblood of many industries, however, the financial services sector stands in stark contrast. It has become nearly impossible to envision any processes in the sector without the use of data. Our survey gives us a glimpse into the inner workings of these businesses. Most importantly, we get to see how far ahead of everyone else they are in innovations in data acquisition, management, and processing.
Julius Černiauskas, Chief Executive Officer
What can you expect from our white paper?
- How widespread is the use of alternative data?
- What are the most popular data collection methods?
- Which method has had the greatest impact on revenue?
- Which are the most promising data collection methods?
- What is the perception of web scraping?
- How is web scraping managed within the sector?
- What are the challenges associated with data collection?
Download our white paper on alternative data in the financial sector and learn more on how it may benefit your business.