More than four-fifths of hedge fund respondents in a recent Lowenstein Sandler survey indicated that their firms now use alternative data, and another seven percent expect to use alternative data in the next six to twelve months. Moreover, fund managers are seeking new types of alternative data and increasing their alternative data budgets. This article explores those and other key findings from the survey report. For additional insight from a partner at Lowenstein Sandler on the opportunities and risks presented by big data, see our three-part series: “Acquisition and Proper Use” (Jan. 11, 2018); “MNPI, Web Scraping and Data Quality” (Jan. 18, 2018); and “Privacy Concerns, Third Parties and Drones” (Jan. 25, 2018).