How is alternative data collected?
An example of an AI chatbot conversation about collecting alternative data.
What is alternative data and how is it collected?
Alternative data refers to non-traditional data sources used for analysis, often collected from social media, satellite imagery, and transaction data.
Can you give me examples of sources for alternative data?
Sure! Examples include web scraping, credit card transactions, IoT devices, and social media activity.
How do companies ensure the quality of this data?
Companies often use data validation techniques, cross-referencing with reliable sources, and employing data cleaning processes.
Are there any ethical concerns with collecting alternative data?
Yes, ethical concerns include privacy issues, consent from data subjects, and the potential for bias in data interpretation.
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