Unacast, the top location data company, is now available to Bloomberg Data License clients through Bloomberg Enterprise Access Point’s alternative data catalog. Unacast’s data will allow quants at hedge funds, insurance firms and other financial institutions to explore foot traffic, migration patterns and emerging markets.
Hedge funds identified the value of location data a few years ago. Until then, they would send someone to a big box retailer to count the number of visitors coming in and out, or count the number of cars parked, and make predictions based on this information. Location data now does the same automatically, with more sophistication, on a larger scale, and in real time.
Many use cases for location data boil down to informing investment decisions and the financial services industry is certainly no different. Though the manner of the investment varies, the need in financial services that location data meets is to intelligently augment broader decision-making processes.