Docstoc

Grabbing XBRL It's Really Simple

Document Sample
Grabbing XBRL It's Really Simple Powered By Docstoc
					Grabbing XBRL: It„s really simple
 Diane Mueller-Klingspor
                Senior Product Manager - Business Objects
                Editor-in-Chief, XBRLSpy.com
                XBRL-GL Working Group Chair




Grabbing XBRL
                Common Goals
•   Promote XBRL adoption
•   Make XBRL accessible to the masses
•   Improve transparency thru accessibility
•   Increased Disclosure will promote:
    – Better educated investors
    – Lowers investor uncertainty
    – Lowers the portfolio turnover
    – Lowers cost of capital
Grabbing XBRL
             Grabbing XBRL:
           The Distribution issues
• Where‟s the XBRL?
• How do we know when it‟s there?
• What to we need?
   Proposed Solution:
     XBRL-enhanced RSS data feed
• What is RSS
• XBRL-enhanced RSS Data feeds
                     If you build it, they will come
                                     The Kevin Costner philosophy


Grabbing XBRL
            Where is the XBRL?
• Investor Relations sites
   – Irregular, sporadic postings
• Stock Exchanges
   – Limited Pilot projects
• Aggregators
   – Normalized Data, Historical Depth Available
   – Web Services aware-apps required
   – Pay-per-view
• SEC Edgar repository as of April 4th
   – As reported by company

Grabbing XBRL
  How do we know when it‟s there?
• SEC Current Listings Index
   – Searching for Exhibit 100s
   – Labor-intensive
   – Nobody wants to do this every day, hour




Grabbing XBRL
   Business User‟s Expectation
• As Simple as Google Alerts
• Easy to „Grab‟
   – Push to my Blog
   – Push to my Blackberry
   – Push to Excel
   – Push to XML-aware BI applications
• Never hear the letters „X-B-R-L‟


Grabbing XBRL
                What do we need?

• Delivery & Notification Mechanism
• Instant Reliable Accurate Access
• From Trusted Sources




Grabbing XBRL
        It has to be really simple
•   Accessible by Business users
•   Via my desktop applications
•   Without Building Web Service Applications
•   Without additional IT infrastructure
•   At no cost




Grabbing XBRL
                  Enter RSS
•   XML-based format for syndicating content
•   Underpinning of “blogging”
•   Stands for “Really Simple Syndication”
•   Not a protocol, a data format
•   Lite weight - “good enough” technology
•   Widely adopted
    – 3 million active blogs, the majority with RSS
      feeds
Grabbing XBRL
              RSS News Feed Snippet
<rss version=“2.0" xml:base=http://www.xbrlspy.org n>
<channel>
<title>XBRLSpy - Accelerate Compliance with XML Today</title>
<link>http://www.xbrlspy.org</link>
<language>en</language>
<item>
<title>
11th XBRL International Conference to Address Significance of eXtensible Business Reporting Language
</title>
<link>http://www.xbrl.org/boston</link>
<description>
The 11th XBRL International Conference will deliver its most comprehensive program to date, focusing on the ways that
       eXtensible Business Reporting Language (XBRL) improves the business reporting process. Attendees will hear
       from an unprecedented lineup of speakers, and have the opportunity to attend sessions highlighting the numerous
       benefits of XBRL adoption. The event takes place from April 26-28 at the Westin Copley Place in Boston. <br />
<br />
XBRL helps companies make faster and better decisions. Adoption of XBRL permits financial analysts, investors,
       accountants, government agencies, internal users and other interested parties to access, compare and analyze
       data in ways that are not currently practical or even possible. Companies of all types can use XBRL to reduce
       costs and streamline their processes for collecting and reporting financial information. By taking advantage of
       XBRL, companies are able to benefit from the flexibility to adapt and meet different requirements, enabling them to
       easily automate the process of data collection, which dramatically improves efficiencies and ultimately a
       company's bottom line.
</ description>
<pubDate>Tue, 29 Mar 2005 17:01:53 -0800</pubDate>
</item>


Grabbing XBRL
 RSS News re-purposed to Blog




Grabbing XBRL
                RSS Re-purposed
• See it in Mozilla Thunderbird
   – Email RSS Reader
   – Notification via Syndication of Content




Grabbing XBRL
    Consequences of Simplicity
• It‟s really simple to re-purpose this content
• It‟s really simple to add more meta-data to
  this content
• RSS gets used for more than WebBlogs
   – Business-to-business scenarios
   – No web service app required to consume




Grabbing XBRL
RSS Versions & Recommendations




                From What is RSS? by Mark Pilgrim (www.xml.com)


Grabbing XBRL
 Law of unintended consequences*
                               Original Purpose
    CNN



    NYT         RSS              My Portal
                                 Today‟s
                               Headline News
                                                  I Read
    BBC



    WSJ


• Big media publishers, a few aggregators
                                                           *gartner



Grabbing XBRL
   Law of unintended consequences*
CNN
 CNN
  CNN                                Second Phase
   CNN
    CNN
     BigMedia
                                                             I Subscribe
 NYT
  NYT
   NYT
     NYT
      NYT                         RSS News Reader
 BBC NYT                              Software
  BBC YourB
   BBC
 WSJBBC
  WSJBBC
       BBC
   WSJHisBlog
    WSJ
      WSJ
       WSJ        •   Increased in blog processing power
       MyBlog
                  •   Expanded reach to individual Blogs
                  •   Fundamental change in Web experience
                                                                       gartner
                                                                      **




  Grabbing XBRL
   Law of unintended consequences*
CNN
 CNN
  CNN                                 Third Phase
   CNN
     CNN
     BigMedia
NYT                                                              I Consume
 NYT
  NYT
    NYT
     NYT
BBC NYT                            RSS News Reader
 BBC YourB
  BBC                                  Software
   BBC
     BBC
      BBC
      HisBlog

 Application
                  •   Changes to packages that consume RSS
  produced
                  •   RSS used to syndicate data automatically produced
    RSS
                  •   Human-authored vs. Application-authored
                  •   Consumed by data-mining systems

  Grabbing XBRL
RSS Versions & Recommendations




                From What is RSS? by Mark Pilgrim (www.xml.com)


Grabbing XBRL
                The Future is now
RSS V2.0
                                            +         +
   enables namespaces
       enables more meta-data
            Enables XBRL content to be delivered today via RSS
XBRLSpy RSS Feeds today
   Pre-processes XBRL Content from Edgar
       Extracts summary abstract from XBRL on Edgar
       Passes URLs to Edgar repository
       Pushes processed XBRL to XBRLSpy News Feed
   Raw XBRL Data Feed from Edgar
Grabbing XBRL
 Raw XBRL RSS Data Feed Snippet




Issue: Today‟s RSS Readers don‟t „process‟ XBRL in an informed manner


 Grabbing XBRL
       XBRLSpy processed XBRL
             RSS Feed

                Grab Sample from Live
                Feed, Insert Here…




Grabbing XBRL
       XBRL RSS Re-purposed
• See XBRL content in Mozilla Thunderbird
   – Raw XBRL as Thunderbird sees it today
       • Open source project underway to build XBRL-
         aware RSS Reader plug-ins for Thunderbird
   – XBRL content processed by XBRLSpy
• See XBRL content on XBRLSpy
   – XBRL Content re-purposed as blog content



Grabbing XBRL
See XBRL content on XBRLSpy
• See XBRL content in Mozilla Thunderbird
   – Raw XBRL as Thunderbird sees it today
       • Open source project underway to build XBRL-
         aware RSS Reader plug-ins for Thunderbird
   – XBRL content processed by XBRLSpy
• See XBRL content on XBRLSpy
   – XBRL Content re-purposed as blog content



Grabbing XBRL
 If we feed them, they will come
• Create RSS Readers to do more than
  notify & push content
   – Deliver BI via RSS Readers
   – Render formatted XBRL Financial Reports


• Build RSS Readers that alert, educate,
  and inform the business consumers


Grabbing XBRL
             Grabbing XBRL:
           The Distribution issues
• We know where the XBRL is
   – Thank you, SEC
• We know when it‟s there
   – Via RSS syndication
• Now, we know how to get
   – Via XBRL-enhanced RSS data feeds

                      If you build it, they will come
                                    The Kevin Costner philosophy


Grabbing XBRL
      Common Goals Revisited
•   Promote XBRL adoption
•   Make XBRL accessible to the masses
•   Improve transparency thru accessibility
•   Increased Disclosure will promote:
    – Better educated investors
    – Lowers investor uncertainty
    – Lowers the portfolio turnover
    – Lowers cost of capital
Grabbing XBRL
                       Thank you!
 Diane Mueller-Klingspor
                Senior Product Manager - Business Objects
                Editor-in-Chief, XBRLSpy.com
                XBRL-GL Working Group Chair




Grabbing XBRL

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:13
posted:4/14/2010
language:English
pages:27