For a market signal to be useful, its data must arrive before the opportunity fades. Timeliness measures whether data is delivered soon enough to support action; data arriving after the market has moved may be commercially worthless. section 10.2.1
Figure 10.2 The professional quant’s framework for evaluating data sources is a five-point due diligence process to systematically filter potential alpha streams. In a world of infinite data, the ability to make intelligent choices is paramount. This framework isn’t merely a checklist but a rigorous gating process that professional funds use to assess the viability of any potential data source before committing significant time and resources.
Use timeliness as one of five due-diligence criteria for assessing whether a financial data source can support a viable alpha stream. section 10.2.1
