Last week, global provider of research, data, and advisory services for the consumer, retail technology, and retail real estate sectors announced that it acquired Alternative Data Analytics, a leading alternative data strategy and insights firm. As part of the transition, Daniel Goldberg, founder of Alternative Data Analytics, will join Coresight Research as Chief Data Strategy Officer.
Coresight’s Recent Acquisition
Founded in 2018, Coresight Research provides research, data and advisory services to companies in the consumer, retail technology and retail real estate sectors. The firm was established by well-known sell-side retail analyst Deborah Weinswig, and is headquartered in New York, with offices in London, Lagos, Hong Kong, Shanghai and Mangalore.
Alternative Data Analytics is a leading provider of advisory and consulting services to the alternative data ecosystem, working with both data buyers and data/analytics providers. Advising firms on global data strategy, the firm builds in-house data teams; identifies, captures, and centralizes internally generated data; and sources unique third-party alternative data sets. In addition, the firm is heavily involved in product development, data quality assessments, compliance navigation, marketing presentations, and client introductions for data and analytics companies looking to create new revenue streams. The firm’s founder, Daniel Goldberg, has more than 10 years of experience in the alternative data industry and 12+ years of sell-side and buy-side research experience, having worked for Hunter Global Investors and Bear Stearns, after starting his career at Ernst & Young.
Deborah Weinswig, CEO and Founder of Coresight Research explained the firm’s acquisition of Alternative Data Analytics, saying “Through this acquisition, Coresight Research will significantly increase our data capabilities and further extend our expertise in data-driven research. The buildout of a data advisory practice has been on our roadmap since the launch of our data science operations in Lagos last year, and Coresight Research will now possess an enhanced ability to consolidate and convert data into knowledge.”
“Coresight Research’s global reach and corporate-focused client base will provide our data business with a greatly expanded network of clients and data buyers in the retail, retail tech, consumer and real estate spaces,” explained Daniel Goldberg. “Additionally, my role as Chief Data Strategy Officer will open up a significant opportunity to meet the expanding need for data products by the firm’s growing client base.”
Earlier this year, Coresight Research engaged Alternative Data Analytics to help it build out a new data oriented offering. The product of this engagement is a recently released data service called its Store Intelligence Platform, an interactive, real-time solution for tracking store openings, closures and active store counts as well as accessing additional analytics. This initiative wasn’t the first time Goldberg and Weinswig worked together. The two of them were both previously sell-side analysts at Bear Stearns.
Coresight’s acquisition of Alternative Data Analytics makes strategic sense as it enables the firm to quickly add a data advisory practice to support corporate clients who have been trying to build out a data driven decision making infrastructure. In addition, the acquisition helps Coresight Research to expand into the institutional investor community, one of the key markets that Alternative Data Analytics has traditionally served. The third benefit of the acquisition is that Coresight will be able to offer some of their innovator and start-up clients an opportunity to monetize their own exhaust data resources. Lastly, the acquisition enables Coresight to add Daniel Goldberg as an experienced Chief Data Strategy Officer to its management team.