We live in an information-driven society. Data fuels our decision-making, direction, and development, and new technologies offer different ways to observe consumer and market behaviours. These data sources and methods are often referred to as “alternative data,” and a robust ecosystem has evolved to facilitate the identification and dissemination of this data. Understanding potential risks and parameters around the acquisition and use of alternative data is important to ensure responsible practices, and diligence is key to this process.
One of the challenges in the diligence process can be a communication disconnect. Parties may simply misunderstand the reason for a particular diligence question or have difficulty parsing the answer. It is said that travel helps one see the same world from a different perspective. In that spirit, we have provided a brief travel guide to help you navigate these hurdles and assist with your diligence journey.