Posted on Monday, August 3, 2020

Analysts and investors gain from widespread availability of structured (XBRL) data. Find out how from:

  • Adrien Cloutier, CFA, Global Director of Equity Data, Morningstar
  • Pranav Ghai, CEO, Calcbench
  • Diana Serbu, Head of Company Data Strategy and Management, Refinitiv (formerly Thomson Reuters)

See excerpts from the video below.

Pranav Ghai, CEO, Calcbench:

“We can make data available to investors much faster if it’s in XBRL format, because we can eliminate manual data entry and a lot of the checking and manual review needed with non-structured data.”

“… [with XBRL] there’s no difference in the availability of data between large and small companies.”

[accessing data in the footnotes to the financials] is not that easy to do unless you have access to structured data, in this case XBRL…with data available in the XBRL format, we can extract data from the footnotes in seconds. From one company, from thousands of companies.”

Adrien Cloutier, Global Director of Equity Data, Morningstar:

“Extracting data from an HTML document takes at least 20 minutes, from a good quality PDF, takes around 30 minutes, from an image around 50 minutes. Data pulled from an XBRL file though, can be extracted in 1 to 2 seconds… let’s us focus on better analytics rather than scraping data from documents.”

Diana Serbu, Head of Company Data Strategy and Management, Refinitiv (formerly Thomson Reuters)

“We’ve been doing this now for over 8 years across multiple geographies where XBRL filings are available.” 

“…the use of XBRL… has benefited both Refinitiv clients and the investment communities we serve by enabling us to make significant strides in how quickly we can deliver our fundamental data to the markets. In many instances that time has reduced from days to minutes.”

“Given how successful XBRL has been in the financial data space, I’m hoping it will become an enabler for more standardized reporting across non-financial data like ESG.”


Upcoming XBRL US Events

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Thursday, December 9, 2021

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Thursday, January 13, 2022

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Wednesday, January 19, 2022