London headquartered big data specialist Neudata has released the much-anticipated version 2 of its online Neudata Scout digital data intelligence platform. Neudata provides hedge funds and other institutional investment managers with metadata about the vast array of alternative datasets available for selecting and back testing the most appropriate sources for alpha generation.
It takes a lot of resources to back test some datasets and a lot of them are quite dirty and need a lot of work to be tagged and structured. There are only a few well-funded data-centric funds that have those in-house capabilities; many are now realising the importance and playing catch-up.
The flip side is that many companies, which are not established data providers, are looking to monetise their data and do not yet have a network of clients. This is where Neudata can come in to assist them.
Appraising version 2 of the platform, Rado Lipuš, founder and chief executive officer of Neudata said: "We listened carefully to feedback from our audience of quantitative investment managers and greatly enhanced the functionality and new features available on the Neudata Scout platform.
"We expanded the navigation and filtering components so that managers can more easily pinpoint relevant data sources for a specific investment universe, or search for specific stocks, products or even brands.
"Also among the new features is a robust content management capability for users to add relevant and useful notes. All of this makes it easier for investment professionals to perform critical functions such as discovering, assessing and selecting the best sources of data sets for their particular investment research needs."
Many of Neudata's clients log in to the Neudata Scout platform on a daily basis in order to identify the latest alternative datasets and source providers that are continuously being added, he said.
Data providers span the universe from early-stage, still below-radar data providers compiling unique data, to established data providers assembling novel datasets for a limited number of investment management clients, to larger "exhaust-data" providers who often incidentally collect and aggregate less mainstream data that can be incredibly useful to investors.
Neudata recently hired Stephen Morse, former head of global financial data partnerships at Twitter, as an advisor based in New York City, bringing Neudata's alternative data intelligence platform to US hedge fund managers and other institutional investors.
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