I used to work in buy side research. Most of the good datasets have already been stripped of alpha, but are bought and sold anyways because funds have to know w

I used to work in buy side research. Most of the good datasets have already been stripped of alpha, but are bought and sold anyways because funds have to know what the data is saying to keep up with the other funds. A true new dataset with separate alpha is a goldmine. There are ones that add to the edge, and require quants, but in my experience all the valuable alternative data can be normalized and then back tested to the stock price. If you cant do that with it, its not that valuable outside a few hedge funds.