Those without direct contact to the financial sector have only heard rumours about alternative data. Supposedly, this new type of data has provided businesses with previously untapped decision making potential. Those in the financial sector who are able to utilize alternative data are now able to generate better returns on investment than their competitors.
In the past year, alternative data has experienced a powerful surge of growth. At Oxylabs, we have seen inquiries from the financial sector increase nearly three times when compared to previous years. Globally, total spending on data has increased over six times in the past five years.
Almost every business has been talking about doubling down on data. However, it can often be difficult to differentiate between hype and true utility.
Being data-driven means many things to many people. We decided to delve deeper into the what, how, and why of data. Instead of relying on hearsay and rumors, we now have hard facts on the subject. Our white paper allows us and everyone in the industry to better understand the benefits, pain points, and the future outlook of data management.Julius Černiauskas, Chief Executive Officer at Oxylabs.io
Therefore, we decided to investigate the true extent and importance of alternative data in the financial sector. In cooperation with Censuswide, Oxylabs have conducted a survey of 252 UK senior data decision-makers in order to shed light on the topic. Our survey provides everyone with a complete view of the role alternative data plays in the financial sector.
What can you expect from this white paper?
- How widespread is the use of alternative data?
- How has the COVID-19 pandemic impacted the data collection practices and budgets?
- What are the primary methods for data collection?
- What are the most common challenges?
- What are the sector’s perceptions of web scraping?
- What are the sector’s data strategies for the upcoming year?
Download our white paper on alternative data in the financial sector and find out more on how it may benefit your business.