Alternative data with a paper trail.

Most alternative data is exhaust: app panels, card aggregates, device pings, each with a provenance story that is hard to defend to a compliance officer and a panel that changes shape without warning. Ours is different in kind. It comes from county recorders and assessors, city permit offices, state and provincial licensing regulators, and public listing and professional web surfaces. Every source is nameable, every record is dated, and the methodology is written down.

Point-in-time integrity. We keep the snapshot, not just the current state. License files are retained as dated monthly snapshots. Listings are captured daily and the observation date travels with the row. Deeds and permits carry both the event date and the recording or issue date the source published, so you can model the publication lag rather than pretend it away. We do not restate history in place.

Entity resolution is the work. A regulator lists eXp as EXP REALTY LLC, EXP REALTY, LLC, eXp Realty of California, Inc. and EXP Realty LLC across four jurisdictions. Rolling those to one parent, and that parent to a ticker, is where the signal is made or lost. We maintain the rollups, expose the raw strings underneath them so you can audit every mapping, and version the mapping so a backtest is reproducible.

Compliance posture. Public record and licensed commercial sources only. No material non-public information, no consumer app exhaust, no scraped private surfaces. Personal fields can be dropped or aggregated before delivery for institutional use, and we will sign the diligence questionnaire and walk your data-sourcing team through each pipeline.

Engagements usually start with a free historical slice on one signal so your team can test it against a known series before any contract. Ask for the backfill depth on the specific signal you care about; it varies by source and we quote it honestly rather than averaging it.

What a row looks like

Agent headcount by brokerage, from the regulators, monthly. Raw office strings shown; the parent rollup is a separate versioned column.

Signals researchers use

From the ledger