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The Evolution of Business Sources: An Environmental Look at Information Providers and a Prediction f

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Bloomberg, Thomson, Reuters. S&P. Dow Jones. Niche Information. Capital IQ ... Reuters acquired VentureOne, Moneyline Telerate, Multex, EcoWin, Starmine ... – PowerPoint PPT presentation

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Title: The Evolution of Business Sources: An Environmental Look at Information Providers and a Prediction f


1
The Evolution of Business SourcesAn
Environmental Look at Information Providersand a
Prediction for the Future
  • Jean Yaremchuk
  • Baruch College
  • City University of New York
  • The Charleston Conference
  • November 6, 2009

2
Delivery of Information Sources has Evolved over
Time
  • Generally, this is summarized as
  • Paper ? Electronic
  • and Consolidation of Publishers
  • Many ? Few
  • But actually (and thankfully) it is more complex

3
Business Information Relates to Entities
Events/Transactions
  • Entities Include
  • Companies
  • Industries
  • Regulatory Agencies
  • People
  • Officers/Directors
  • Investors
  • Shareholders

4
Events Can be Attributes of Entities or Link them
  • Corporate Actions
  • Deals/Financings
  • Management Changes
  • News

5
Entities and Events have Attributes, which may
also be Entities
  • Company
  • Industry
  • Location(s)/HQ
  • Developmental Stage
  • Public/Private
  • Financials
  • People
  • Role
  • Officers/Directors
  • Investors
  • Shareholders
  • Age, Interests, Characteristics

6
Entity Relationships
People
Company
Position
Investors
Financing
Industry
Status
7
Business Sources
  • News
  • Regulatory Releases
  • Public Filings
  • Company Websites
  • Legal Sources
  • Looseleaf, Treatises, Hornbooks
  • Exchanges and Bourses
  • Analysts

8
Historically, individual sources provided limited
information on individual entities and
transactions
  • News ? Companies, People, Corporate Actions
  • Public Filings ? Companies, Insiders,
    Investments
  • Company Websites? Companies, Corporate Actions,
    People
  • Legal Sources ? Securities
  • Exchanges and Bourses ? Securities
  • Market Research/Analyst Reports? Companies,
    Industries, Securities (Prices)

9
Information Providers Began to both Aggregate
Information and Provide Niche Services
  • Aggregators
  • Bloomberg, Thomson, Reuters
  • SP
  • Dow Jones
  • Niche Information
  • Capital IQ
  • Securities Data Publishing
  • VentureOne

10
Stronger Providers Acquired Smaller Niche Players
and Startups
  • Activity 1999 onward
  • Reuters acquired VentureOne, Moneyline Telerate,
    Multex, EcoWin, Starmine
  • Thomson acquired Primark, Datastream, IBES, First
    Call, SDC, Quantitative Analytics
  • SP (McGraw-Hill Companies) acquired Compustat,
    Capital IQ
  • Dow Jones bought Technologic Partners,
    Alternative Investor, VentureOne

11
Acquisitions Encouraged New Players
  • Creating Electronic Products from Multiple
    Sources
  • Creating Summary Database Information from
    Myriad Transactions
  • DataExplorers
  • TradeWeb
  • Organizing information by Client Workflow
  • Capital IQ
  • Providing similar products with Value Add
  • FactSet

12
and Vested former Executives who cashed out
started new niche companiesor joined smaller
companiesThis continues today

13
So while the big players get bigger and focus on
product offerings which provide everything large
clients need in workflow organized packages
14
Smaller providers continue to sprout, hire
seasoned executives, and hope to grow large
enough to acquire others or become attractive
enough to be acquired themselves
15
And regulators support middle-tiered players in
their growth as competitors.
16
Today, Information Sources and Providers may be
categorized by level of aggregation
Individual Sources
  • Aggregated Databases of
  • Individual Sources

Newspapers
Research Reports
Factiva, ABI-Inform, Dialog, etc.
Company Websites
Investment Sites Mergent WRDS
Filings
  • Niche Market Workflow
  • Products
  • High-end Workflow Products
  • with Many Inputs

ReutersXtra, 3000 Bloomberg
LibraryHouse, IPEEX
ThomsonOne
17
The high-end aggregators aim to sell value- add
products with all available content for high
prices and will pay to acquire content and
technologySmaller companies will continue to
arise in order to grow and compete or sell to the
big guysSecond-tier companies will grow and
provide more competitionand individual sources
will still be available, and usually more easy to
find and retrieve
18
What does this mean for libraries? The quality
of content is continuously improving More
documents are available faster Some content is
becoming commodity Hard to find, niche
information is now availableHistorically
libraries had limited access to premium, complex
products This will changeThe days of libraries
stuck with legacy products may be over
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