Grabbing XBRL

Grabbing XBRL: It‘s really simple

Diane Mueller-KlingsporSenior Product Manager - Business ObjectsEditor-in-Chief, XBRLSpy.comXBRL-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 comeThe 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*

• Big media publishers, a few aggregators*gartner

RSS

RSS

RSS

NYT

CNN

BBC

WSJRSS

My PortalToday’s

Headline News

Original Purpose

I Read

Grabbing XBRL

Law of unintended consequences*

• Increased in blog processing power• Expanded reach to individual Blogs• Fundamental change in Web experience

**gartner

RSS

RSS

RSS

NYT

CNN

BBC

WSJ

RSS

RSS News ReaderSoftware

CNNCNN

CNNCNNBigMedia

NYTNYT

NYTNYT

NYTYourBBBC

BBCBBC

BBCBBCHisBlog

WSJWSJ

WSJWSJ

WSJMyBlog

Second Phase

I Subscribe

Grabbing XBRL

Law of unintended consequences*

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

*gartner

RSS

RSS

RSS

NYT

CNN

BBC

RSS

RSS News ReaderSoftware

CNNCNN

CNNCNNBigMedia

NYTNYT

NYTNYT

NYTYourBBBC

BBCBBC

BBCBBCHisBlog

Third Phase

I Consume

Applicationproduced

RSS

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-dataEnables XBRL content to be delivered today via RSS

XBRLSpy RSS Feeds todayPre-processes XBRL Content from Edgar

Extracts summary abstract from XBRL on EdgarPasses URLs to Edgar repositoryPushes 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 comeThe 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-KlingsporSenior Product Manager - Business ObjectsEditor-in-Chief, XBRLSpy.comXBRL-GL Working Group Chair