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Interpreting Alternative Data in Novel Ways Using AI

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Aug 7, 2018 9:34:00 PM

The Diminishing Returns of Alternative Data

Not long ago, if hedge funds wanted to gauge the sales performance of a retailer like JC Penney, they would send Junior Analysts out to the stores to count cars in parking lots. This ‘channel check’ approach – and the limited insights it produced – eventually gave way to ‘Alternative Data.’ An example being satellite imagery which offers the same information (number of cars in parking lots), only in much larger, more dependable data sets. When it used to take an army of human analysts weeks or even months to accomplish, a satellite can perform in mere days.

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