Data analytics technology has been incredibly useful in the field of finance. It is projected that the financial analytics market will be worth $16.9 billion by 2027.
Analytics has been particularly useful when it comes to stock market investing. A growing number of investors are using analytics tools to track their performance and improve their trading strategies.
Analytics is Changing the Art of Investing
Many investors that have just started to get involved in the stock market find it difficult to have an overview of all their stocks. They struggle figuring out how to track their stocks and where to find the information on stock changes etc. Luckily, there is a solution to this problem; stock trackers that are built with major advances in data analytics. We talked about other investing tools that use big data, such as RobinHood. But analytics in general is very useful in this field.
Stock trackers offer a wide variety of analytics tools to help investors keep up to date on all your stocks, as well as helping them monitor changes in the industry that might affect your equity portfolios. But how you might ask? What can a stock tracker with advanced analytics features actually do for me? Well, in this article we will go in depth on what a stock tracker is and some of its exclusive features.
How Do Stock Trackers Use Analytics to Assist Investors?
To make it clear and simple, a stock tracker gives you insights on everything that influences your existing stock portfolio or stocks that you might consider investing in. A stock tracker shows price changes in your stock. It also shows news that might affect your stock, as well as an overview of the stock prices over a period of time and many many more. Thus, a stock tracker is your guideline for investing in the stock market. It lets you make right decisions at the right time.
These tools rely extensively on detailed analytics tools. They aggregate data from the financial markets, which can be available in real-time. They also use big data storage tools to keep historical records on the long-term financial performance of the stock, which makes it easier to track trends and execute more reliable trading strategies.
Although all of this sounds good, let’s have a look at the specific benefits of an analytics-based stock tracking tool.
What are the benefits of a stocks tracker that uses analytics?
There are a lot of ways that big data is changing the stock market. Here are some ways that investors can benefit from it.
All in one place
A simple benefit of the right stock tracker for you is that it enables you to have all the necessary information and actions in one place. You can keep track of all your stocks as well as buying and selling stocks. It shows you the balance of your investments as well as a profit and loss statement. Your data analytics platform has a central dashboard that enables you to look at all of your securities at any given time.
A quick notification system
The right stock tracker is searching the stock markets every second of every day in order to provide you with the right stock information very quickly. Therefore, it allows you to make quick decisions based on new information or price drops or increases. The stock tracker can give you a notification every time a new change happens in regard to your stock.
These tools can also use machine learning technology to identify breaking changes in the market. You can use this technology to better analyze the direction of the market, based on inputs that you have provided relating to your trading strategy.
Personalized portfolios
We have talked in the past about the benefits of content personalization, which relies on sophisticated machine learning technology. The same machine learning tools can also be used to improve and personalize your stock trading strategy. That wouldn’t be possible without major advances in data analytics.
Rob Berger of Forbes points out that different stock trackers give you the ability to create your own portfolio with all your different stocks such as cryptocurrency, currency and regular stocks. Your portfolio can be adjusted based on your specific needs. You can even choose when to receive a notification and from which stocks.
Stock Tracker provider
Coming up with the best stock tracker out of a sea of tracking tools is not easy. Like other good investors, you have to do research on them to fit your demands. Delta is a stock tracker provider who offers a wide variety of options to suit your needs. Delta provides insight in your own stock portfolio, as well as stock that has your interest, and many many more.
To conclude, a stock tracker can benefit each type of investors based on their needs. It is important to do your research and select the right stock tracker that works for you.