AXA Investment Managers announced a collaboration with State Street and MKT MediaStats to evaluate data-driven indicators that help analyse economic and market information.
MKT MediaStats is focused on financial market implications of increasingly available ‘big data’ from multiple sources, and is founded and led by well-known academic researchers. It leverages and extends into the commercial realm of considerable academic research done by its partners. The State Street PriceStats inflation series is a daily measure of inflation derived from prices posted to public websites by hundreds of online retailers.
“AXA IM, MKT MediaStats and State Street share a commitment to exploring new data sources that can enhance our ability to make timely and well-informed investment decisions,” said Joseph Pinto, chief operating officer at AXA Investment Managers. “Leveraging these big-data solutions will allow us to advance our client service on multiple fronts. Not only are we increasing the amount of knowledge available to us, but we are also cutting down on the amount of time spent manually sorting through information resources.”
“Investor success in the coming years will continue to largely depend on the ability to rapidly access and synthesise an exponential amount of information. Our goal is to bridge the gap between financial decision making and academic thinking to help investors achieve their return and risk objectives.” said Jessica Donohue, chief innovation officer for State Street Global Exchange.
MKT MediaStats uses unstructured data from many sources, including 25,000 distinct media sources, to derive a wide variety of indications of market behavior, such as sentiment, price movements, risk, and liquidity of individual assets.
The State Street PriceStats inflation indices are generated using software that scans the underlying code on public websites to capture the full array of products sold by online retailers, including food, beverages, electronics, apparel, furniture, household products, prescription drugs, and over-the-counter medicines. The technology monitors price fluctuations on roughly five million items sold by hundreds of online retailers in more than 70 countries.