Bloomberg has increased the number of third-party vendors providing alternative data to clients via its web-based marketplace, Enterprise Access Point, to more than 60.
Data License clients can now access the expanded alternative data from third-party data providers, which Bloomberg said represents a three-fold increase since it launched the Enterprise Access Point market place in February 2019.
The Enterprise Access Point marketplace also features datasets specifically relevant to COVID-19 including biotech and pharma, life events such as evictions and foreclosures, geopolitical risk, social positioning scores, patent data on technology trends.
“Over the past few years, we have seen demand for alternative data skyrocket as firms have integrated sophisticated insights into their investment strategies, ,” said alternative and historical data product manager at Bloomberg, Caroline Ward. “This has only increased with the COVID-19 pandemic, as information once considered a value-add has now become essential to navigating a dislocated economy.”
“The expansion of Enterprise Access Point ensures our clients have direct access to a wide range of alternative data, in conjunction with Bloomberg’s market-leading traditional financial data, so they can make informed and confident investment decisions.”
In May, Bloomberg made several upgrades to Enterprise Access Point to provide Data License clients with more easily accessible content.
The upgrade was in response to client demand for ‘application-ready’ data that is immediately useable, which Bloomberg said it attempted to meet with two new features, data marketplace, and dataset creator.
“Now that many professionals are working from home, it is crucial for financial firms to reduce the number of manual processes they use to consume data,” said Brian Doherty, head of Data License at Bloomberg at the time. “The latest Enterprise Access Point upgrades put the control directly in users’ hands and allow them to be more productive in whatever environment they are working from.”