The transformation of hedge fund research over the past decade is, in large part, a story about data. Not the traditional kind, the kind everyone has, but data that reflects what is actually happening in the world before it shows up in earnings reports, consensus estimates, or management guidance.
By 2026, alternative data is foundational. Over 90% of systematic funds and more than 60% of fundamental long/short equity funds use at least one alternative data source. Annual market spend has grown from $1.7 billion in 2020 to over $14 billion projected by 2027. The funds that generate the most co