Bloomberg has launched a new offering that connects and integrates a range of datasets from multiple sources, as well as providing historical data.
The Company Financials, Consensus Estimates, Company Guidance, Corporate Action Adjusted and Pricing Point-in-Time solution is designed to address the needs of quantitative analysis and backtesting.
Tony McManus, global head of enterprise data, Bloomberg, said: “Infinite computing power, data-friendly programming languages, machine learning tools, advances in AI and easy access to financial analytics has unlocked a vast and abundant set of new data sources for investors. Managing the amount of data that is available today — and gleaning insights not already discovered by the market — has become a massive undertaking.”
“By pre-ingesting, mapping and linking many different data sources together, Bloomberg allows customers to significantly reduce the time needed to generate signals or insights. There is a significant demand for fundamental, quantamental and quantitative company research, and this new point-in-time data product is just part of the long-term investment we’re making to build out a deep, interconnected suite of company research products,” McManus added.
The Company Financials, Estimates and Pricing Point-in-Time data product allows Bloomberg customers to perform deep single company, as well cross-company analysis, deriving insights into the key performance drivers of a company or a sector.
Angana Jacob, head of research data, enterprise data, Bloomberg, said: “A critical component of Bloomberg’s offering is its inclusion of true, historical point-in-time data, which is essential for accurate backtesting.”
“Without historical point-in-time data, models can overestimate returns due to survivorship bias and look ahead bias. What sets Bloomberg’s new data solution apart is that it empowers quants and research analysts with the insights they need to build accurate models that allow them to forecast as precisely as possible a security’s performance, and we are thrilled to provide institutional investors with this full picture they need to derive differentiated market insights.”
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