Money managers are hungrier than ever for obscure data to give them an edge

Alternative data has become commonplace at the largest asset managers. TIMOTHY A. CLARY / AFP via Getty Images Investment manager spending on alternative data jumped to $2.8 billion last year, according to Neudata. It is a 17% jump from the prior year, the data consultancy's report reads. Alternative data includes non-traditional intel sources, including credit-card receipts, cellphone geolocation data, and more. Sophisticated money managers have long turned to intel from credit-card receip...