The book Alternative Data:New Driver for Investment is divided into five chapters, comprehensively introducing the application of alternative data in the financial market. This book complements and coordinates with the author’s another work on alternative data, Alternative Data: Theory and Practice, both of which are monographs focusing on alternative data and its applications in China.The first and second chapters of this book mainly elaborate on the application of various types of alternative data, including text data, consumption-related data, sensor data, ESG data, investor attention data, business insight data, satellite image data, and location data, in both quantitative and subjective investment in stocks. The third chapter discusses the application of alternative data in investment in interest rates and exchange rates. The fourth and fifth chapters introduce the application of alternative data in forecasting commodities and important macroeconomic variables respectively.