Advances in Economics, Management and Political Sciences

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Proceedings of the 7th International Conference on Economic Management and Green Development

Series Vol. 31 , 10 November 2023


Open Access | Article

Study of the Applications of Alternative Data in the Field of Economics and Finance

Kangqiao Huang * 1
1 Beihang University

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 31, 89-94
Published 10 November 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Kangqiao Huang. Study of the Applications of Alternative Data in the Field of Economics and Finance. AEMPS (2023) Vol. 31: 89-94. DOI: 10.54254/2754-1169/31/20231511.

Abstract

The term "alternative data" sometimes known as alternative data or non-traditional data, is most often used to describe regionally specific, valuable information that is distinct from typical financial data. Alternative data does not require a specialized data network or administration and may be collected and processed in real time. As a result, "alternative data" has quickly evolved in the financial sector in recent years. "Alternative data" is a well-known illustration of "big" data since, to start, it's enormously large in quantity as shown by its scope and transmission. The second element is the real-time or very close-to-real-time nature of the data collection and transmission. Data types and data structures come in a huge diversity, which is the third component. This paper studies the different classifications and acquisition methods of alternative data, focusing on the different applications of alternative data in the economic and financial fields, respectively, the application of alternative data in forecasting, especially in macro-economic forecasting and user income forecasting, and the application of alternative data in capital markets, business analysis and decision-making.

Keywords

alternative data, economics, finance

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 7th International Conference on Economic Management and Green Development
ISBN (Print)
978-1-83558-083-7
ISBN (Online)
978-1-83558-084-4
Published Date
10 November 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/31/20231511
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated