One reason more lenders are using alternative credit scoring is because the Fair Isaac Corp., creator of the widely used FICO credit score, recently introduced the FICO Score XD, a credit - scoring method that's based on
alternative data sources such as cellphone and cable payments.
In 2015, the company introduced FICO Score XD — a new model that draws
on alternative data sources to produce scores for otherwise unscorable consumers.
BattleFin Discovery Days are exclusive events held four times a year (Miami, New York, London and Hong Kong) with the goal of identifying alpha - generating strategies and cutting
edge alternative data sources.
Because school districts using CEP no longer collect meal applications at all schools, states have
developed alternative data sources for assessing the poverty level of schools.
John Brownstein, chief innovation officer at Boston Children's Hospital and a Harvard Medical School professor, said during his presentation that his researchers have been collecting patient - generated information
from alternative data sources and converting it into an early warning system for disease.
For J.D. Byrider, a used - car sales and finance company, Equifax developed a risk - assessment model that uses traditional credit data augmented
with alternative data sources such as telecom and utility information.
In the absence of applications, districts that offer community eligibility in some or all schools and depend on income data to determine funding for other programs must
identify alternative data sources, which are readily available.
Babineau and cofounder Lillian Chou started digging into all of
the alternative data sources hedge fund managers use, from LinkedIn scrapes to forecast layoffs or watching Google trends.
Here, satellite data on nighttime light emissions can be used as
an alternative data source.
For community eligibility schools,
alternative data sources are available to meet these needs, and most states already implementing community eligibility have been able to implement it without requiring school districts to collect individual student income information.