Bloomberg, a financial, software, data, and media firm announced on Friday that it has made a number of alternative datasets available through its data website, Bloomberg Enterprise Access Point. Through the website, Data Licence clients can have access to data from Bloomberg, as well as alternative data providers such as TipRanks, Thasos, and others.
Specifically, customers can access and incorporate non-traditional forms of data from Thasos, Apptopia, TipRanks, PredictWallStreet, RS Metrics, Orbital Insight, OWL Analytics, Predata, Evaluate, 280First, and Symphony Pharma.
At present, the website provides access to more than 20 alternative datasets, with more planned to be added over the next year. Via the website, clients can find insight on metals inventory, equities blogger sentiment, geopolitical risk, and more.
Alternative data is an invaluable resource for companies. However, some problems such as connectivity and quality issues have hindered access to these resources. This is what the data point website aims to change, by providing a range of resources through one access point.
Specifically, the aim of the new website, according to the statement, is to remove the cost and provide companies with reliable access to data that allows for easy integration.
“Our clients are looking to integrate alternative data into their investment process. As Bloomberg is a leading source of reference and pricing data, the integration of alternative data into the same Bloomberg Enterprise Access Point and Hypermedia API is compelling,” said Gerard Francis, Global Head of Enterprise Data at Bloomberg.
“We make it easier for our clients to contract, ingest, test and normalize their alternative data. Firms can come to one destination for data that can meaningfully inform investment strategy.”
Bloomberg Adds Alternative Data from TipRanks
TipRanks, a company which ranks financial analysts and influencers within the financial space, is one of the entities which is providing its data through the website.
Commenting on the announcement, Uri Gruenbaum, CEO and Co-Founder of TipRanks said: “Influencers wield significant power in the financial markets, the sentiment of these influencers and their impact on investors can be a key element for numerous investment strategies. We’re working with Bloomberg because the reach of Bloomberg Enterprise Access Point will help bring our data to leading investors.”