Top 10 Alternative Data Companies in the World

The global alternative data market size reached US$ 6,433.2 Million in 2023. The market is primarily driven by the escalating demand for alternative data from various hedge funds to gain a competitive edge. In addition, the widespread product adoption by government authorities for policymaking, public health statistics, achieving sustainable development goals (SDGs), and analyzing the needs of marginalized classes represent another major growth-inducing factor. Besides this, the widespread product utilization in the aviation industry to analyze customers’ interests in specific flights and destinations, derive accurate forecasts, and eliminate risks of aviation accidents is also propelling the market growth.

As per the analysis by IMARC Group, the top alternative data companies are investing in artificial intelligence and machine learning technologies to improve the accuracy and timeliness of their alternative data offerings. For instance, Thinknum Inc. has launched alternative data solutions for the finance industry by launching its datasets for tracking e-commerce trends and consumer sentiment. They are also engaging in mergers and acquisitions (M&A) and partnerships to strengthen their market foothold. For instance, NASDAQ Inc.’s alternative data platform Quandl, which builds investment models by identifying datasets has collaborated with insurance companies in the United States to get access to insurance policy information on new car purchases. Looking forward, IMARC Group expects the market to reach US$ 118,112.0 Million by 2032, exhibiting a growth rate (CAGR) of 28.6% during 2024-2032.

Learn about opportunities, challenges, and trends in the global Alternative Data market with IMARC’s market research report. Try a free sample today!

List of Top Companies Operating in the Alternative Data Industry:

The global alternative data market has several major players, including 1010Data Inc. (Advance Communication Corp.), Advan Research Corporation, Dataminr Inc., Eagle Alpha, M Science, Nasdaq Inc., Preqin, RavenPack, The Earnest Research Company and Thinknum Inc. More information about these companies has been provided below. 

1. 1010Data Inc. (Advance Communication Corp.)

1010Data Inc. is a software company that specializes in big data analytics and data management solutions. It serves over 900 clients across various industries, including finance, retail, healthcare, and telecommunications. 1010Data's platform is designed to provide businesses with the tools to analyze and derive insights from large and complex data sets. The platform includes data management tools that allow users to integrate, clean, and manage disparate data sources, as well as analytical tools that enable users to visualize, explore, and analyze data in real-time. Moreover, the company's clients include some of the largest retail and finance companies in the world, such as Walmart, JPMorgan Chase, and Nasdaq.

2. Advan Research Corporation

Advan Research Corporation is a leading provider of alternative data solutions for investment firms and other financial institutions. It specializes in the collection and analysis of non-traditional data sources, such as satellite imagery, social media data, and web traffic data, to provide unique insights into various industries and market trends. The company's solutions are particularly popular among hedge funds, private equity firms, and other institutional investors who are looking for an edge in their investment strategies. In addition to its core platform, Advan Research offers a range of specialized solutions, such as its WeatherRisk platform, which provides real-time weather data and analytics for the energy, agriculture, and transportation industries, and its supply chain Intelligence platform, which provides insights into supply chain operations and logistics.

 3. Dataminr Inc.

Dataminr Inc. is a leading provider of real-time AI-based analytics and alerts solutions for global enterprises, news organizations, and public sector agencies. Dataminr's solutions are particularly popular among financial institutions, such as hedge funds and asset managers, who use the platform to monitor market-moving events, news, and sentiment in real-time. The platform is also used by public sector agencies, such as law enforcement and emergency services, to identify potential threats and respond quickly to emergencies. In addition to its core platform, Dataminr offers a range of specialized solutions, such as its city operations platform, which provides real-time situational awareness for city officials and emergency responders, and its news alerts platform, which provides real-time alerts for journalists and news organizations.

4. Eagle Alpha

Eagle Alpha is a leading provider of alternative data solutions for investment firms and other financial institutions. It provides access to a wide range of alternative data sources, such as web traffic data, credit card data, and satellite imagery, which can be used to gain unique insights into various industries and market trends. The platform includes a suite of analytical tools and customizable dashboards, which allow users to visualize and analyze complex data sets. Presently, the company serves hedge funds, private equity firms, and other institutional investors.

5. M Science

M Science is a leading provider of alternative data solutions for institutional investors, corporate clients, and government agencies. It leverages advanced data analytics and machine learning algorithms to extract valuable insights from a wide range of alternative data sources, including web traffic data, credit card data, and consumer transaction data. The platform provides real-time access to these data sets, allowing clients to make timely decisions and gain a competitive advantage in their respective industries. M Science's solutions are particularly popular among institutional investors, such as hedge funds and asset managers, who use the platform to identify new investment opportunities, monitor market trends, and evaluate the performance of companies and industries.

6. Nasdaq Inc.

Nasdaq Inc. is a leading global provider of technology and services to the capital markets, including exchange and trading technologies, market data, and analytics. It operates multiple stock exchanges around the world, including the Nasdaq Stock Market, which is the second-largest stock exchange in the world by market capitalization. The company's technology solutions are used by more than 120 marketplaces in 50 countries, and its market data and analytics products are widely used by financial institutions, corporations, and governments.

7. Preqin

Preqin is a leading provider of data, insights, and solutions for the alternative assets industry, including private equity, venture capital, hedge funds, real estate, infrastructure, and private debt. It offers solutions to institutional investors, such as pension funds and endowments, who use the platform to identify new investment opportunities and evaluate fund managers. The platform is also used by fund managers to benchmark their performance and identify potential investors. Besides this, Preqin offers a investor intelligence platform and private equity online platform, which provides comprehensive coverage of the private equity industry.

8. RavenPack

RavenPack is a leading provider of big data analytics and solutions for financial institutions. It relies on natural language processing (NLP) and machine learning algorithms to extract valuable insights from unstructured data sources and provide real-time access to these insights, allowing clients to make informed decisions. RavenPack's solutions are particularly popular among quantitative traders and data scientists, who use the platform to identify trading signals and generate alpha. Besides this, it also provides sentiment analytics platform and custom research platform, which allows clients to request customized research reports on specific topics or industries.

9. The Earnest Research Company

Earnest Research Company is a leading provider of data and insights for business and investment decision-making, with a strong focus on consumer behavior and spending patterns. It provides real-time, granular data on consumer behavior and spending patterns, derived from a wide range of sources, including credit card transactions, e-commerce receipts, and point-of-sale data. The platform also includes a suite of analytical tools and customizable dashboards, which allow users to analyze complex data sets. At present, the company serves institutional investors, such as hedge funds and asset managers, and corporate clients to gain insights into consumer behavior and market dynamics, and to inform business strategy and decision-making.

10. Thinknum Inc.

Thinknum is a leading provider of alternative data and analytical solutions for businesses and investors. Its product portfolio includes Thinknum Data Portal, Data Feed, Geo Data, and Thinknum Jobs Data. The company's solutions are used by clients around the world, including hedge funds, asset managers, investment banks, and corporate clients. Presently, Thinknum has a strong presence in the United States and Europe, and is rapidly expanding its reach in Asia and other emerging markets.

Get an inside look at the global alternative data market with exclusive insights, including:

• CAGR projections during the 2023-2028 forecast period
• In-depth information on the factors that will fuel the global alternative data market growth in the next five years.
• Precise predictions regarding upcoming trends and potential changes in consumer behavior
• Analysis of the global alternative data industry's expansion at the global level.
• A thorough review of the market's competitive landscape and detailed information on key players
• Detailed explanations of the challenges that could impede the growth of the global alternative data market.

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