The Industrials sector is a crucial part of the economy, encompassing various sub-sectors such as manufacturing, construction, and engineering. With the increasing use of technology and data-driven insights, the industry has started to embrace alternative data sources to enhance their decision-making process. In this article, we will discuss the concept of alternative data and its potential providers for the Industrials industry.
What is Alternative Data?
Alternative data refers to non-traditional data sources that provide unique insights into consumer behavior, market trends, and other useful information that traditional data sources may not capture. This data can come from a variety of sources, including social media, satellite imagery, credit card transactions, and more. The use of alternative data can provide a competitive edge to businesses by giving them a more comprehensive understanding of the market and their customers.
Why Alternative Data is Important for the Industrials Industry
The use of alternative data can provide various benefits to businesses in the Industrials sector. First, it can help them gain a better understanding of their customers and the market.
Potential Alternative Data Providers for Industrials
QuestMobile is a Chinese app data aggregator that provides data on more than 700 million mobile devices. This data can be used to gain insights into consumer behavior, including app usage, mobile payment transactions, and more.
Earnest Research is a data provider that offers credit and debit card transaction data from millions of anonymous US consumers. This data can be used to gain insights into consumer spending patterns, including which products and services are most popular, and how consumers are spending their money.
Alternative data is becoming an increasingly valuable tool for businesses in the Industrials sector. With the help of providers such as QuestMobile and Earnest Research, businesses can gain unique insights into consumer behavior and market trends, giving them a competitive edge in the industry.