The coronavirus is speeding the adoption of alternative data in the financial industry.
It’s being driven by money managers pushing for new ways to monitor and forecast the economic fallout of the outbreak.
Whereas they may have focused on company earnings or the unemployment rate in the past, they now know that such data is less helpful in the current situation.
Bloomberg is adding a slew of non-traditional economic indicators, such as the U.S. airline passenger traffic statistics from the Transportation Security Administration.
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