Bloomberg has announced that it is working with TipRanks to offer alternative datasets through the company’s “ready-to-use” data website, Bloomberg Enterprise Access Point. Adding alternative datasets allows Data License clients to easily access and incorporate new, non-traditional forms of high-quality data.
Financial firms are increasingly using previously cumbersome, inconsistent, non-traditional data to inform their investment decisions and risk management strategies. While firms recognize the value of newer datasets for alpha generation, they face challenges like data connectivity, varying quality and ease-of-use.
By offering clients a singular access point for finding and receiving reliable data, Bloomberg eliminates costly and lengthy procurement processes, which speeds up time and enables easy integration to existing systems.
“Our clients are looking to integrate alternative data into their investment process” 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.”
TipRanks Offers Data Through Bloomberg
Financial analytics and big data analysis firm TipRanks applies natural language processing to analyze the recommendation patterns of financial influencers across the internet. The firm provides a live channel into the mindset of financial thought leaders and their impact on the investment decisions of individual investors.
“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,” said Uri Gruenbaum, CEO and Co-Founder of TipRanks.
About Bloomberg Enterprise Access Point
Launched in September 2018, Bloomberg Enterprise Access Point is an online Linked Data platform that provides normalized reference, pricing, regulatory, historical and now alternative datasets for Bloomberg Data License clients. Clients can browse quality data online, examine the metadata, trial sample datasets prior to acquisition, and immediately put them to use within their organization.
About TipRanks
Founded in 2012 by Uri Gruenbaum and Gilad Gat, TipRanks raised capital from a line of VCs and industry leaders including former New York Governor Eliot Spitzer and Cornell Finance Professor Roni Michaeli. TipRanks provides a data-driven measure of accuracy for published financial advice. The purpose: bringing accountability into the markets. Over 40,000 financial experts are tracked by TipRanks’ NLP algorithms including Wall Street analysts, financial bloggers, corporate insiders and hedge fund managers. TipRanks was awarded First Place for Outstanding Achievement at the IBM Watson awards in 2015 and was named one of the world’s 50 Fintech “Emerging Stars” by KPMG and H2 Ventures.
