According to the company’s press release, the new feature enables users to integrate premium alternative data from partners like Similarweb and Placer.ai directly into their Terminal workflow. Bloomberg claims this integration will help investors get an earlier read on company performance ahead of official earnings reports. The goal is to streamline the complex process of sourcing, cleaning, and analyzing alternative data by embedding it within existing Bloomberg tools for charting, financial analysis, and news.
- KPI Estimate Delivery: Reduced from 7-14 days to 3-5 days (company claim)
- Available KPI Estimates: More than 5,000 (company claim)
While the use of alternative data is not new for sophisticated hedge funds, Bloomberg’s move is significant for its potential to democratize access for a broader institutional audience. The financial data giant is entering a highly fragmented but rapidly growing market. According to a report from Grand View Research, the global alternative data market is projected to expand significantly, driven by demand for predictive insights. By integrating this data, Bloomberg aims to make its Terminal an even stickier, all-in-one platform, competing more directly with specialized data providers and the in-house data science teams at major financial firms.
The announcement from Bloomberg did not include details on pricing or the specific availability of the new Data Entitlements. Key factors to watch will be the cost of accessing these premium data feeds, which will determine the rate of adoption among the Terminal’s vast user base. Furthermore, the platform’s long-term success will likely depend on how many additional high-quality data partners Bloomberg can onboard to provide a comprehensive view of company performance across various sectors.
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