Business intelligence specialist Business Objects has partnered with Thomson Financial, supplier of specialist financial data, in order to provide its customers with pre-packaged market information, through an on-demand web-based service.
The Business Objects Information OnDemand solution will allow Business Objects customers to receive a vast range of financial market information and data, such as PE ratios, cashflows and performance metrics, in a format of their choosing. Unlike the raw data supplied by Thomson Financial or its competitor Reuters, the Business Objects data is pre-aggregated according to templates devised by the customer.
Business Objects envisages the service being of greatest use to organisations wishing to analyse the performance of competitors and particular marketplaces. The service will be a welcome newcomer to a space increasingly clogged by the exponential growth of raw financial markets data.
According to Andy Hirst, senior director of Financial Services at Business Objects, the launch of the service definitively marks the business intelligence specialist’s shift from software company to “information as a service” provider.
“This forms one of our five key strategic initiatives”, Hirst told Information Age.