Bloomberg Expands Terminal to Make Alternative Data Accessible

Bloomberg has introduced a new alternative data function on the Bloomberg Terminal, which will allow customers to gain an early read on company performance alongside traditional fundamental data. Named ALTD <GO>, the new function will support equity analysts and portfolio managers with intra-quarter insights which can be incorporated into research workflows, paired with consensus estimates, company news, research and guidance – ahead of earnings announcements. According to a story in The Trade news, ALTD <GO> will also enable all Bloomberg Terminal users to incorporate consumer transaction data analytics, location analytics from launch partner Placer.ai, and other alternative data into their research workflows to help inform investment strategies. ALTD <GO> includes data from location analytics provider, Placer.ai, which analyses foot traffic data. A privacy by design approach is used by Placer.ai to incorporate data from a panel of millions of mobile devices, applying machine learning and AI algorithms to make estimations on how many visits have been made to retail locations throughout the US. Bloomberg stated that it plans to add additional alternative data sources based on client demand.