Features in Alternative Data Platforms
for Investment Research & Analysis
Tools that collect, process, and analyze non-traditional data sources such as satellite imagery, social media sentiment, credit card transactions, and mobile location data to generate investment insights not available from conventional sources.
We ask vendors to mark their product against our feature list. It is not available for all products and in some cases we have derived data from publicly available sources. The list of features follows. Vendors can add a further 10 key features of their own.
Analytics & Insight Generation
Availability and sophistication of computational tools for generating actionable investment signals from raw alternative data.
- Backtesting Tools
- Built-in functionality for testing investment hypotheses using historical data.
- Correlation Analysis
- Supports finding relationships between alternative data and traditional financial metrics.
- Custom Analysis Capability
- Ability to build custom models or queries on platform data.
- Enrichment with Traditional Data
- Integrated blending of alternative and conventional financial data sets.
- Explainability of Models
- Features supporting interpretability of predictive signals and models.
- Geospatial Analytics
- Ability to map and analyze spatial data (e.g., satellite imagery).
- Prebuilt Analytics
- Number of out-of-the-box analytical models or dashboards for typical investment use cases.
- Predictive Modeling
- Availability of machine learning or AI-driven forecasting modules.
- Real-Time Alerting
- Automatic notification of significant changes or anomalies relevant to portfolio holdings.
- Scalability of Analytics
- Ability for analytic tools to function with large and growing data sets.
- Sentiment Analysis
- Detects and quantifies market sentiment from textual or social media data.
Customization & Extensibility
Ways the platform can be tailored to firm-specific workflows, requirements, and future expansion.
- Alert Customization
- User-defined conditions and triggers for event-driven alerts.
- Custom Dashboard Building
- Ability to design and save custom dashboards for specific analyses.
- Custom Data Ingestion
- Upload and merge a client’s own alternative or proprietary data.
- Custom Reporting
- Design and automate custom report formats.
- Deploy in Private Cloud
- Support for on-premises or VPC deployment for sensitive clients.
- Integration with In-House Tools
- Ability for organization-specific connectors/modules.
- Plugin/Extension Framework
- Ability to add modules/extensions for new functionalities.
- Scripting/Programming Interface
- Support for custom script development (e.g., Python, R APIs).
- Theming/Branding Customization
- Visual customization for brand consistency.
- Workflow Automation
- Integration with tools for process automation (e.g., alerts, trade signals).
Data Coverage & Sources
The breadth, diversity, and reliability of alternative data sources ingested by the platform, including their provenance and adaptation to investment research.
- Consent & Compliance
- Ensures data sources are ethically and legally obtained with proper user consent.
- Coverage Geography
- Geographical breadth of alternative data (e.g., global, regional, local markets).
- Data Licensing Terms Clarity
- Transparency and clarity of the licensing rights and restrictions regarding data use.
- Data Source Transparency
- Level of disclosure around data origins and collection methods.
- Exclusive or Unique Sources
- Whether the platform provides access to otherwise unavailable/uncommon datasets.
- Historical Depth
- Amount of historical data available for backtesting and longitudinal analysis.
- Number of Data Sources
- Total distinct alternative data sources (e.g., satellites, social, POS) the platform integrates.
- Real-Time Data Availability
- Whether some or all data sources provide real-time or near-real-time feeds.
- Source Diversity
- Range of data types covered (e.g., geospatial, transactional, web-scraped, sensor data, etc.)
- Source Update Frequency
- How often new data is ingested from sources.
- Source Verification
- Processes in place to verify data authenticity and quality.
- Unstructured Data Handling
- Ability to process and integrate unstructured data such as images or text.
Data Quality & Integrity
The strength of validation, cleanliness, completeness, and granularity for data-fed investment models.
- Anomaly Detection
- System flags and explains outliers or errors in incoming data.
- Data Granularity
- Level of detail available (e.g., hourly, daily, per store, per SKU).
- Data Normalization
- Standardization of datasets for ease of analysis.
- Deduplication
- Automated detection and removal of duplicate entries.
- Error Rate
- Frequency of data processing or reporting errors.
- Imputation Techniques
- Advanced strategies for predicting and filling missing data.
- Latency
- Time delay between data creation and its availability on the platform.
- Missing Data Handling
- Systematic mitigation of gaps or missing values in data streams.
- Quality Assurance Processes
- Robustness of quality control and regular audits.
- Version Control
- Ability to track changes and updates to datasets for auditability.
Innovation & Forward-Looking Capabilities
Support for the ongoing evolution of alternative data use, such as new sources, AI/ML, or visualization.
- AI/ML Model Upgrades
- Frequency of innovation or upgrades in analytic and predictive engines.
- API Versioning and Roadmap Disclosure
- Transparent release plans and versioning for APIs and tech.
- Academic Collaborations
- Partnerships with universities for applied research.
- Beta Testing/Client Feature Input
- Mechanisms for early adopter programs or client-driven roadmap.
- Cross-Asset Data Opportunities
- Support for new data categories relevant across markets (e.g., ESG, crypto).
- Data Science Sandbox
- Environment for clients to experiment with new data and analytics.
- New Data Source Integration Rate
- How quickly new alternative data sources are made available to users.
- Open Data Initiatives
- Support or contribution to open alternative data/tech communities.
- Participates in Data Consortiums
- Active member of data-sharing or standards organizations.
- Visualization Innovation
- Frequency of new or advanced visualization techniques introduced.
Integration & Accessibility
Methods and ease of consuming, exporting, or connecting data and analytics output to downstream investment systems and workflows.
- API Availability
- Provision of programmatic data and analytics access via APIs.
- Bulk Data Export
- Support for exporting large batches of raw or processed data.
- Cloud Storage Integration
- Compatibility with popular cloud storage solutions (AWS, Azure, GCP, etc.).
- Mobile Access
- Functional accessibility from mobile devices (native apps or web).
- Real-time Streaming Integration
- Ability for real-time data feeds to integrate into live workflows.
- Role-Based Access Control
- Enables fine-grained access management for different organizational users.
- SDK Availability
- Provision of software development kits for easier custom integration.
- Standard Data Connectors
- Prebuilt connectors to common analytics, BI, or portfolio management tools.
- User Interface Usability
- Intuitive and efficient user interface for analysts and developers.
- White-Labeling
- Possibility to customize the platform to align visually and functionally with client brand.
Performance & Scalability
How well the platform handles large volumes of data, query complexity, and responsiveness at scale.
- Batch Processing Support
- Efficient support for large batch data operations.
- Concurrent User Capacity
- Maximum number of active users supported simultaneously.
- Data Ingestion Rate
- Volume of new data processed per unit of time.
- Data Retention Policy Flexibility
- Configurable data storage retention periods.
- Elastic Compute Scaling
- Automatic scaling of compute resources to match workload.
- Parallel Processing Support
- Ability to process multiple data streams or queries concurrently.
- Peak Data Storage Capacity
- Maximum volume of data the platform can host.
- Performance Monitoring Tools
- Built-in dashboards or reporting for platform health and performance.
- Query Response Time
- Median time taken to return analytics or data queries.
- Uptime SLA
- Service Level Agreement (SLA) on platform operational uptime.
Pricing & Contract Flexibility
The adaptability, transparency, and competitiveness of pricing models, contractual terms, and value delivery.
- Add-On Modules Pricing
- Clarity and flexibility of pricing for optional advanced modules.
- Custom Enterprise Agreements
- Ability to negotiate bespoke terms for large clients.
- Early Termination Options
- Availability of low-penalty or pro-rata contract cancellation.
- Free Trial Availability
- Short-term trial or demo use before commitment.
- Minimum Contract Term
- Shortest term for standard agreements.
- Nonprofit/Educational Discounts
- Special pricing for academic or nonprofit organizations.
- Tiered Subscription Models
- Multiple service tiers for diverse needs and budgets.
- Transparent Fee Structures
- Upfront and clear disclosure of fees across all services.
- Unlimited User Pricing
- Flat-rate pricing not tied to user count.
- Usage-Based Pricing
- Option for pricing tied to volume or levels of consumption.
Security & Compliance
Platform approaches to securing sensitive data, providing auditability, and ensuring regulatory compliance for financial institutions.
- Audit Logging
- Maintains a complete log of access and actions for compliance.
- Data Encryption
- Data stored and transmitted using modern cryptography standards.
- Data Residency Options
- Ability to specify jurisdictions where data is stored or processed.
- Penetration Testing
- Regular vulnerability/pentesting assessments are performed.
- Privacy Protection
- Guarantees regarding data subject anonymity and privacy protection.
- Regulatory Certifications
- Possession of certifications such as GDPR, CCPA, SOC2 relevant to data compliance.
- Security Incident Notification
- Automated alerting regarding breaches or suspicious activity.
- Third-party Data Sharing Controls
- Restrictions/controls over redistribution of consumed data.
- User Access Controls
- Granular user and group-based permissioning on data and analytics.
- Vendor Diligence Support
- Facilitates client due diligence workflows (DDQ, supporting docs, etc).
User Support & Documentation
Resources and services provided to assist clients in onboarding, troubleshooting, and maximizing the platform’s value.
- API Documentation Completeness
- Detail and clarity of technical integration guidelines.
- Community Forum
- User-to-user interaction and support hub.
- Data Dictionary
- Comprehensive descriptions of each data field and its origin.
- Dedicated Account Management
- Assigned customer success managers for enterprise users.
- Feedback Mechanism
- Ability for users to suggest features or report issues and track resolution.
- Knowledge Base
- Extensive searchable documentation and tutorials.
- Live Chat Support
- Immediate support via chat with platform staff.
- Localization Support
- Availability in multiple languages and time zones.
- Onboarding Support
- Personalized setup, initial training, and account configuration help.
- User Training Workshops
- Regularly scheduled or on-demand platform training.
Vendor Stability & Reputation
Indicators of platform provider’s reliability, financial health, legal standing, and market presence.
- Awards/Industry Recognition
- Recognition by reputable industry organizations.
- Business Continuity Plan
- Documented and tested plans for disaster recovery and service resilience.
- Churn Rate
- Percentage of clients discontinuing service per year.
- Client Growth Rate
- Annual increase in platform users or logos.
- Financial Transparency
- Annual financial reporting or third-party audits available.
- Industry Partnerships
- Participation in alliances or consortia that enhance credibility.
- Legal Disputes Disclosed
- History of significant legal action or unresolved disputes.
- Referenceable Clients
- Number of notable clients willing to provide references.
- Third-Party Reviews
- Number and quality of external analyst or customer reviews.
- Years in Business
- How long the platform provider has operated.