Bloomberg bolsters traditional enterprise content with the addition of proprietary alternative data – The TRADE News

Bloomberg has made its proprietary Bloomberg Second Measure (BSM) transaction data analytics feeds available via Bloomberg Data License as it bolsters its traditional enterprise content.

The move will allow data professionals and quantitative researchers to connect this alternative dataset with Bloomberg’s Data License content, allowing for early insight improved depth of analysis into the performance of consumer companies.

The BSM data analytics feeds are powered by billions of US consumer credit card and debit card transactions, delivering insights into company performance and consumer trends.

“By continuing to build out our interconnected suite of company research products, Bloomberg is a catalyst for change to the typically complex quant workflow that requires sourcing and organising datasets from multiple providers,” said Tony McManus, global head of enterprise data at Bloomberg.

“Delivering our proprietary alternative data directly alongside our traditional financial data through Data License allows quants and research analysts to make efficient, better-informed market projections with unique insights.”

The BSM transaction data analytics feeds are also the flagship data source for the ALTD function on the Bloomberg Terminal.

Launched in September last year, the function serves as a means to democratise access to alternative data by integrating it alongside traditional market data, broker research, estimates and news on the desktop.

“Making our Bloomberg Second Measure transaction data analytics feeds available for use across the enterprise with Data License is the next step in our effort to lower the barrier to entry for investment analysts to use alternative data for generating differentiated insights,” said Richard Lai, global head of alternative data in Bloomberg’s CTO segment.

“We’re excited to continue building on this momentum to support additional research workflows and create new use cases for Bloomberg’s alternative data solutions.”


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