My current field of expertise is in data vending, more specifically, in the financial markets. Few things that characterize this sector are innovation, accuracy and promptness of information. I’m going to talk about innovation and how it helps shape the global financial community.
As some might now, several companies work in data vending space (to name a few, Thomson Reuters, Bloomberg, FactSet, Capital IQ…etc) and what differentiates one from another is innovation. Those companies need to differentiate their products and solutions in order to gain larger market share. Innovation in such space (data vending) is not limited; innovation in design is a key these days. But not only design that matters, the quality of data and the analytics that can be generated from those data, and functionality and what can someone do with pails and pails of databases is of utmost importance.
The impact of such trend on the global community is obvious; it impacts both the data vending companies (the sellers) and the institutions that use these services (the buyers). For the sellers, innovation in technology will help them gain competitive advantage and help them gain more market share. For the buyers, they will get more added value from the services they subscribed to and will help them, as a result, to better analyze the financial markets and consequently more profit to them and their customers.
I can run quickly one example that illustrates the topic above. We used to sell an application called 3000 Xtra that display news and prices of global financial markets and analyze those data. This application was a bit falling behind against competition as it lacks intuitiveness to search for data and to do analysis. So the company decided to create a completely new application from scratch, the new application called Thomson Reuters Eikon. The application reflects the ambition and passion of the management towards innovation to keep up with today’s trends and gain more...
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