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In On XBRL's Ground Level
Extensible Business Reporting Language (XBRL) continues to gain steam as the data-formatting standard for information on publicly traded companies. Now BI vendors are getting on board -- or at least one is. Business Objects, integration software firm Ipedo and financial information source Edgar Online have combined elements of their technology to produce a joint XBRL-enhanced BI tool. The goal: Make it possible to cull business data from Securities & Exchange Commission documents and other sources, and then analyze that data using Business Objects BI tools. XBRL adoption has been sluggish among companies that file documents with the SEC. (Publicly traded Business Objects is itself a company that wasted no time moving toward the standard.) But as we explained in a piece we ran recently, XBRL is moving beyond the conceptual phase toward becoming a real standard for data on public companies. Moreover, it's likely the SEC will eventually mandate XBRL for financial documents. Business Objects has managed a small coup by striking the partnership with Edgar Online, easily the best known source of SEC documents other than the SEC itself. Edgar Online has no plans -- for now, at least -- to strike similar deals with Business Objects rivals such as Hyperion or Cognos, according to Sue Childs, Edgar Online VP of business development. Speculating just for myself, however, I wouldn't rule out more, similar deals for Edgar Online. Edgar's I-Metrix tool is designed to make it possible for users to tap company financial information using Microsoft Excel; now Edgar Online is making it possible to carry out more complex analysis through I-Metrix combined with BusinessObjects XI. What works with Excel and with Business Objects will work just fine with other BI tools as well.  E-MAIL | SLASHDOT | DIGG This is a public forum. CMP Technology and its affiliates are not responsible for and do not control what is posted herein. CMP Technology makes no warranties or guarantees concerning any advice dispensed by its staff members or readers. Community standards in this comment area do not permit hate language, excessive profanity, or other patently offensive language. Please be aware that all information posted to this comment area becomes the property of CMP Media LLC and may be edited and republished in print or electronic format as outlined in CMP Technology's Terms of Service. Important Note: This comment area is NOT intended for commercial messages or solicitations of business.
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