Re:Ask HN: What is so great about Bloomberg Terminal?
by anonu on Sunday February 26, 2017 @06:09PM
(#13740556)
> It brings together a vast variety of otherwise extremely hard to find information.
I disagree that the information is hard to find. I think a lot of the data is publicly available. Bloomberg "normalizes" it for you and makes it easy and quick to access. As you point out, they have depth and breadth. And that is where the value lies.
Many people have tried to compete with Bloomberg. Millions and millions of dollars have been poured into competitor products. In my opinion, you will never be able to replace Bloomberg. The key, however, is to break up the functionality. Build a better graphing tool, a better chat app, a better financial analysis tool, a data API that plugs into Excel, Python, C++, etc... etc...
Also, the value offering of bbg goes beyond the terminal. For example, Bloomberg sells a lot of their "static" data in daily or hourly file updates (for $100Ks/year). They are the central hub for RFQs and IOIs. They also pour money into machine learning techniques to provide better/faster news. They sell their news firehose for top dollar and people will pay for it.
I disagree that the information is hard to find. I think a lot of the data is publicly available. Bloomberg "normalizes" it for you and makes it easy and quick to access. As you point out, they have depth and breadth. And that is where the value lies.
Many people have tried to compete with Bloomberg. Millions and millions of dollars have been poured into competitor products. In my opinion, you will never be able to replace Bloomberg. The key, however, is to break up the functionality. Build a better graphing tool, a better chat app, a better financial analysis tool, a data API that plugs into Excel, Python, C++, etc... etc...
Also, the value offering of bbg goes beyond the terminal. For example, Bloomberg sells a lot of their "static" data in daily or hourly file updates (for $100Ks/year). They are the central hub for RFQs and IOIs. They also pour money into machine learning techniques to provide better/faster news. They sell their news firehose for top dollar and people will pay for it.