A few weeks ago, BattleFin, who is creating an ecosystem to bring alternative data to the world through their events and technology businesses, announced the upcoming launch of its BattleFin Ensemble© platform to help asset managers find, test and evaluate alternative data sources.
The BattleFin Ensemble Platform
BattleFin’s new Ensemble online platform enables alternative data providers to showcase their data and helps asset management firms to source, evaluate, test and eventually purchase unique alternative data sources. Ensemble is currently in Beta and will be fully rolled out at the BattleFin London event on September 26th and 27th, 2018 at the Rosewood Hotel. A recap video of the NYC Intrepid event can be found here: https://vimeo.com/279495505.
The Ensemble platform allows hedge funds and investment firms to test alternative data sets that they found at the BattleFin Alternative Data Discovery Days or that are part of the BattleFin Alternative Data Accelerator. Standardized NDAs, Testing Agreements, & Compliance checks will be completed once.
One interesting feature of the Ensemble platform is that fundamental asset managers looking to add alternative data to their research process will be able to leverage BattleFin’s data scientist community by scoping out projects to track and predict specific Key Performance Indicators using specific alternative data sets.
Tim Harrington, CEO of BattleFin explained the launch of their new platform, “Our new Ensemble platform is an online extension of our popular Discovery Day alternative data events. As a growing number of investment firms are looking to add alternative data sets to their research process, we are hoping to make it very easy for them to find, test, analyze and integrate this data into their investment process. We believe Ensemble will act as a translation and workflow management tool to allow data scientists, analysts and portfolio managers to seek out key performance indicators to increase or decrease conviction levels in their investment ideas.”
The new Ensemble platform looks like it will be an extremely valuable addition to both alternative data providers and potential consumers of this data, eventually reducing the amount of time it takes for asset managers to find, finalize legal and compliance diligence, and test alternative data. Data vendors should find the platform valuable for a number of reasons, including:
- Enables the verification and validation of data sets leveraging BattleFin’s team of asset management professionals.
- Provides a dedicated sales team, analytics team, and data scientist team.
- Leverages standardized compliance, testing, legal and billing processes.
- Focuses on shortening sales cycles.
Asset managers should also find Ensemble to be an extremely useful tool. A few of the key benefits to investors include:
- Allows clients to find unique data sets they are looking for.
- Makes tools available for data scientists, analysts, and portfolio managers to test data.
- Enables analysts search for alternative data vendors based on specific Key Performance Indicators (KPI’s) they help predict.
- BattleFin’s unique identifiers allow for easier ability to combine data sets.
While we believe BattleFin will face a number of difficulties in convincing both the buyers and sellers of alternative data to play by the same rules, we see the benefits that could accrue to both sides if they do. It will be exciting to see what kind of traction Ensemble gets once the platform is finally launched in September.