Unlocking Financial Data

Chapter 11. Conclusion

This book has walked you through how to find and retrieve financial information from Bloomberg and Markit, analyze the data, and generate custom reports. The lessons have emphasized the need to add your own views at each step to create something truly valuable and unique. The real goal, however, was not to simply re-create the spreadsheets, databases, or code that came with the book. The goal was to teach, by example, how to build your own platform for analysis and reporting. I have no doubt that many of you wondered why I didn’t include some field, calculation, or report element that seems critical to you. My hope is that, whatever it is that you are trying to build, this book gave you the framework for achieving your goals.

As next steps, I would suggest reaching for the moon. I always find it useful to sketch out what the ideal spreadsheet, report, or application would look like and build it one piece at a time. Begin by identifying all the different data needed and finding the best source for that data. Remember, sometimes the best or only source of good data is you. Ensure that you really understand the data and its nuances (accuracy, reliability of the source, etc.). Remember third normal form from Chapter 2, and make sure the data is stored properly. Ensure that you put the data into context, otherwise it is meaningless. Always take a moment to confirm that everything makes sense; too many people just trust their calculations and don’t double-check ...