The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Fintech

Central bankers among those hungry for alternative data to navigate coronavirus crisis

Investors, governments and central bankers are using new sources of data to understand the impact of the Covid-19 pandemic.

binary-data-earth-tech-phone-780.jpg

On February 28, foot traffic in three busy retail areas in Seattle started dropping. From 373,801 visitors to South Lake Union on that Friday, pedestrian footfall steadily declined so that by Wednesday, March 4, it was just 242,985.

This was not the case in other US cities, such as Boston, where retail shopping was climbing year on year due to a milder winter, but then other US cities had not been so close to the US’s first reported outbreak and deaths from the coronavirus Covid-19.

Washington State, of which Seattle is the largest city, was home to the first case in the US in January, and also home to the country’s first death from the virus announced on February 29.

ha-us-alt-chart-340.jpg

The data are part of an alternative dataset that an increasing number of investors, as well as governments and central bankers, are turning to for help in navigating the current crisis that has sent stock markets around the world reeling.

This particular data are from Thasos.com, a New York-based alternative data firm offering real-time location intelligence.

“What this real-time data showed for example was what would likely happen in other US cities – and indeed what did happen one week later,” says Wei Pan, chief data scientist at Thasos.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree