Money managers are hungrier than ever for obscure data to give them an edge

Alternative data has become commonplace at the largest asset managers.

TIMOTHY A. CLARY / AFP via Getty Images

• Investment manager spending on alternative data jumped to $2.8 billion last year, according to Neudata.
• It is a 17% jump from the prior year, the data consultancy's report reads.
• Alternative data includes non-traditional intel sources, including credit-card receipts, cellphone geolocation data, and more.

Sophisticated money managers have long turned...