Handbook of Alternative Data in Finance, Volume I

"Alternative data has become a hot topic in finance. New kinds of data, new data sources, and of course new tools for processing such data offer the possibility of new and previously unsuspected signals. In short alternative data lead to the promise of enhanced predictive power. But such advance does not come without its challenges - in terms of the quality of the data, the length of its history, reliable data capture, the development of appropriate statistical, AI, machine learning, and data mining tools, and, of course, the ethical challenges in the face of increasingly tough data protection regimes. Gautam Mitra and his colleagues have put together a superb collection of chapters discussing these topics, and more, to show how alternative data, used with care and expertise, can reveal the bigger picture."
– Professor David J. Hand, Emeritus Professor of Mathematics and Senior Research Investigator, Imperial College, London

"Digital capital is now so important that it can rightly be viewed as a factor of production, especially in the financial sector. This handbook does for the field of alternative data what vendors of alternative data do for data itself; and that is to provide structure, filter noise, and bring clarity. It is an indispensable work which every financial professional can consult, be it for an overview of the field or for specific details about alternative data."
– Professor Hersh Shefrin,Mario L. Belotti Professor of Finance, Santa Clara University
An impressive and timely contribution to the fast developing discipline of data driven decisions in the trading and management of financial risk. Automated data collection, organization, and dissemination is part and parcel of Data Science and the Handbook covers the current breadth of these activities, their risks, rewards, and costs. A welcome addition to the landscape of quantitative finance.
–Professor Dilip Madan, Professor of Finance, Robert H. Smith School of Business"The Handbook of Alternative Data in Finance is the most comprehensive guide to alternative data I have seen. It could be called the Encyclopaedia of Alternative Data. It belongs to the desktop, not the bookshelf, of every investor."
– Ernest Chan, Respected Academic, Author, Practicing Fund Manager, Entrepreneur and Founder of PredictNow.AI

"Professor Gautam Mitra and his team unpack the topic of alternative data in finance, an ambitious endeavor given the fast-expanding nature of this new and exciting space. Alternative data powered by Natural Language Processing and Machine Learning has emerged as a new source of insights that can help investors make more informed decisions, stay ahead of competition and mitigate emerging risks. This handbook provides a strong validation of the substantial added value that alternative data brings. It also helps promote the idea that data driven decisions are better and more sustainable – something we, at RavenPack, firmly believe."
– Armando Gonzalez, CEO and Founder of RavenPack

"As the 1st Duke of Marlborough, John Churchill, wrote in 1715: 'No war can be conducted successfully without early and good intelligence.' The same can be said for successful trading. In that light, the Handbook of Alternative Data in Finance contains vital insights about how to gather and use alternative data —in short, intelligence —to facilitate successful trading."
– Professor Steve H. Hanke, Professor of Applied Economics, The Johns Hopkins University, Baltimore, USA

"The Handbook of Alternative Data in Finance is cutting edge and it bridges a huge gap in the representative studies on emerging areas of finance where alternative data can be profitably utilised for better informed decisions. The practical insights in the book would come very handy to both investors and researchers who look for fresh ideas."
– Ashok Banerjee, Director, Indian Institute of Management Udaipur, Formerly Dean, and Faculty-in-charge of the Finance Lab at Indian Institute of Management Calcutta