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Grabbing XBRL: It‘s really simple

Grabbing XBRL: It‘s really simple. Diane Mueller-Klingspor Senior Product Manager - Business Objects Editor-in-Chief, XBRLSpy.com XBRL-GL Working Group Chair. Common Goals. Promote XBRL adoption Make XBRL accessible to the masses Improve transparency thru accessibility

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Grabbing XBRL: It‘s really simple

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  1. Grabbing XBRL: It‘s really simple • Diane Mueller-Klingspor • Senior Product Manager - Business Objects • Editor-in-Chief, XBRLSpy.com • XBRL-GL Working Group Chair

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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’

  7. What do we need? • Delivery & Notification Mechanism • Instant Reliable Accurate Access • From Trusted Sources

  8. 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

  9. 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

  10. 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>

  11. RSS News re-purposed to Blog

  12. RSS Re-purposed • See it in Mozilla Thunderbird • Email RSS Reader • Notification via Syndication of Content

  13. 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

  14. RSS Versions & Recommendations What does RSS look like? From What is RSS? by Mark Pilgrim (www.xml.com)

  15. Law of unintended consequences* • Big media publishers, a few aggregators *gartner Original Purpose CNN RSS NYT RSS My Portal Today’s Headline News RSS I Read BBC RSS WSJ

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

  17. Law of unintended consequences* CNN CNN CNN • Changes to packages that consume RSS • RSS used to syndicate data automatically produced • Human-authored vs. Application-authored • Consumed by data-mining systems *gartner Third Phase CNN CNN BigMedia RSS NYT RSS News Reader Software I Consume NYT NYT NYT NYT BBC NYT RSS BBC YourB BBC BBC BBC RSS BBC HisBlog RSS Application produced RSS

  18. RSS Versions & Recommendations What does RSS look like? From What is RSS? by Mark Pilgrim (www.xml.com)

  19. 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 + +

  20. Raw XBRL RSS Data Feed Snippet Issue: Today’s RSS Readers don’t ‘process’ XBRL in an informed manner

  21. XBRLSpy processed XBRL RSS Feed Grab Sample from Live Feed, Insert Here…

  22. 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

  23. 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

  24. 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

  25. 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

  26. 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

  27. Thank you! • Diane Mueller-Klingspor • Senior Product Manager - Business Objects • Editor-in-Chief, XBRLSpy.com • XBRL-GL Working Group Chair

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