Recap: Discovery Day Chicago 2024 - The Future of Financial Services with Alternative Data Providers

We had the pleasure this week of attending Discovery Day Chicago: Alt Data & AI for Financial Services, hosted by BattleFin at the Chicago Hilton.

The event, held from October 15-16, 2024, brought together a dynamic mix of cutting-edge AI and alternative data providers alongside financial industry professionals. It was the place to be for hedge funds, private equity firms, VCs, and corporate data users to get a sneak peek at the latest datasets, product launches, and insights driving the future of decision-making.

Key Takeaways

1. Consolidation of Data Sources – A hot topic throughout the sessions was how the industry can streamline access to data. Our very own Shaler attended a session where speakers discussed the growing trend of data consolidation, signaling a move toward simplifying data pipelines for more actionable insights.

2. Demand for Workforce Analytics – One recurring theme we (happily) picked up on was the growing hunger for workforce analytics among asset management firms. With the right data, these firms can track talent flows and get deeper insights into the companies they are tracking or investing in, making workforce intelligence a crucial asset for due diligence and strategic decision-making.

3. BattleFin’s One-on-One Meetings – Think of speed dating but for data! One of the highlights was the one-on-one meetings BattleFin organized, allowing firms to meet with 100+ alternative data providers across sectors like geolocation, sentiment, and transaction data. These meetings are invaluable for setting up 2025 data pipelines and planning future evaluations.

New Product Announcements

In addition to insightful panel discussions, new product releases were showcased, giving attendees a glimpse of what’s coming for 2025. From clickstream to transaction data providers, the new products introduced are set to shape how alternative data supports financial services and corporate decision-making.

Event Differentiators

What made Discovery Day stand out among alternative data conferences this year? Its unique blend of corporate and financial data tracks. BattleFin’s experience in the financial space has naturally evolved to include corporate users (e.g., CMOs, Heads of Analytics, and Innovation leads), who are increasingly looking to leverage alternative data to optimize business strategies.

With curated tracks addressing these different sectors, the event truly showcased how AI and data are no longer confined to Wall Street but are reshaping global industries.

Spilling the Beans

We also had a bit of humor during the event: in a very “real-world” moment, Shaler got a little too enthusiastic while shaking a buyer’s hand and ended up spilling coffee everywhere. Sometimes, excitement just can’t be contained!

We’ll be sure to keep you updated with more insights from our travels this year, but one thing’s clear: alternative data providers like Aura are positioned to play a pivotal role in shaping 2025 and beyond. Stay tuned!