We study how the cost of data analytics and the characteristics of investors and investment opportunities affect investment decisions and their data an- alytics. We show that the falling cost of the data analytics raises investors' leverage, financially constrained or highly risk-averse investors use less data analytics, the value of data analytics is highest with average investment op- portunities and it is low with a high or low expected return opportunities. Due to the increased leverage, the falling cost of data analytics may lead to higher losses during the crises. This is a joint work with Jussi Keppo and Hong Ming Tan.

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