Wall Street is finding ways to make money off your every move
Investment firms like hedge funds are big buyers of so-called "alternative data." That's data that comes from the apps we use, the online shops we buy from, and the GPS tracking within our smartphones.
This info helps investors figure out where to put their money and gives insight into, for instance, how stocks will perform - which companies will continue to rake in cash, and which ones are likely to flop.
The market for this data is expected to double in the next five years in the US, from $200 million today to $400 million, according to a recent TABB Group report. The amount of data that can be packaged into investment insights is expected to increase as our devices and apps glean more info from us.
"The deployment of billions of sensors that can monitor any type of device, from fridges to gas tanks, will significantly increase the quantity and quality of data that is made available for analysis," the report said.
Below are some of the ways vendors are tracking your spending and tastes, according to the report.