In his recent post in XBRL-Public Yahoo group, Pete Haynsworth compared three top XBRL data providers on the basis of 4 high level financial metrics: Revenue, Net Income, Assets, and Stockholders Equity.
We find it important to emphasize that unlike two other companies, FinDynamics and its financial data platform XBRLAnalyst for Excel is not a data aggregator. We build a platform for leveraging the main potential of XBRL in Excel, i.e. the unprecedented level of granularity and trace-ability of financial information. There are 3 key significant benefits in using XBRLAnalyst for financial analysis in Excel:
- One immediately notices that all the data returned by XBRLAnalyst is annotated with details about the source.
- We linked back all Excel values to the data feed using XBRLFact (download Excel file ).This allows auto-updating the values as our learning algorithms improve in time. No need to re-export the data from some website and reformat it in Excel all over again.
- Professional financial analysis requires using the actual clean data from the financial statements and footnotes rather than some normalized concepts. For that, we provide all the tools required to get and cross-check the data in Excel quickly and effectively (watch video tutorial ). One can also build new custom financial metrics specific to the purpose of the analysis using our “Edit My Definitions” tool. All that is available natively in Excel without any intermediate export/reformatting steps.