Bloomberg Completes Acquisition of Second Measure
Adds consumer transaction data analytics to enhance quantamental company research
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NEW YORK, Dec. 24, 2020 /PRNewswire/ -- Bloomberg L.P. announced today that it has completed its acquisition of Second Measure, a consumer data analytics company that analyzes billions of anonymized purchases to help investors and businesses gain insight into company performance and consumer behavior. Bloomberg acquires Second Measure's proprietary analytics for daily tracking and real-time exploration of thousands of public and private companies, providing users with insights that complement Bloomberg's company fundamentals and market data.
The fast-growing demand for alternative data by investment firms pursuing more data-driven investment strategies has resulted in an overabundance of new datasets that present significant challenges in acquiring and processing the data and deriving actionable insights, especially for firms that do not maintain large in-house data science teams. Second Measure decodes transaction data that is typically difficult to decipher, enriches and normalizes the data, and produces insights and visualizations that are directly consumable through a web application.