Thursday, February 23, 2017

Netiquette IQ Technical Term Of The Day - Alternative Data



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Alternative Data
Alternative data is information gathered from non-traditional information sources. Analysis of alternative data can provide insights beyond that which an industry's regular data sources are capable of providing.
The question of what constitutes alternative data varies from industry to industry. In banking, for example, a lender may traditionally rely on an applicant's credit score to assess risk and determine the probability that a loan will be paid back. When the applicant has no prior credit history, however, alternative data that illustrates the applicant's history of meeting financial obligations, such as paying a cell phone bill on time each month, can be useful information. A bank that includes alternative data sources in risk assessment for a loan may also factor the applicant's history of paying rent on time and whether or not the applicant consistently makes more than the required minimum monthly payment on credit card bills.
In recent years, the increase of data from mobile devices, satellites, sensors and websites has led to large amounts of structured, semistructured and unstructured data, also known as big data. All that data has the potential to be mined for information and potentially help people make better data-driven decisions. In response to the demand for alternative data, some traditional research firms have branched out to become alt-data providers, selling corporate clients data from non-traditional sources and services to analyze that data.
Once a data source begins to be used on a regular basis, it is no longer considered to be an alternative source. Current use cases for alternative data include:
  • Precision agriculture - farmers can analyze time-series images taken by drones to make more accurate predictions about crop yields.
  • Healthcare - public healthcare workers can mine social media for specific keywords to fine-tune initiatives that track the spread of influenza.
  • Investment firms - analysts can use satellite imagery to analyze the number of cars in a shopping mall parking lot and predict the state of a local economy.
  • Military - autonomous robots can be used as additional eyes and ears to help improve situational awareness.
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In addition to this blog, Netiquette IQ has a website with great assets which are being added to on a regular basis. I have authored the premiere book on Netiquette, “Netiquette IQ - A Comprehensive Guide to Improve, Enhance and Add Power to Your Email". My new book, “You’re Hired! Super Charge Your Email Skills in 60 Minutes. . . And Get That Job!” has just been published and will be followed by a trilogy of books on Netiquette for young people. You can view my profile, reviews of the book and content excerpts at:

 www.amazon.com/author/paulbabicki

Anyone who would like to review the book and have it posted on my blog or website, please contact me paul@netiquetteiq.com.

In addition to this blog, I maintain a radio show on BlogtalkRadio  and an online newsletter via paper.li.I have established Netiquette discussion groups with Linkedin and  Yahoo I am also a member of the International Business Etiquette and Protocol Group and Minding Manners among others. I regularly consult for the Gerson Lehrman Group, a worldwide network of subject matter experts and I have been contributing to the blogs Everything Email and emailmonday . My work has appeared in numerous publications and I have presented to groups such as The Breakfast Club of NJ and  PSG of Mercer County, NJ.


Additionally, I am the president of Tabula Rosa Systems, a “best of breed” reseller of products for communications, email, network management software, security products and professional services.  Also, I am the president of Netiquette IQ. We are currently developing an email IQ rating system, Netiquette IQ, which promotes the fundamentals outlined in my book.

Over the past twenty-five years, I have enjoyed a dynamic and successful career and have attained an extensive background in IT and electronic communications by selling and marketing within the information technology market.