Database and Business Intelligence – Ivy Li, Morningstar
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XBRL at Morningstar × Yi Wang CTO, Data Services × Ivy Li Director, Equity Data Collection Proprietary & Confidential About Morningstar × Founded in 1984 × Provider of investment research information × Office in 22 countries × 2500 employees globally × Core competence: Research, Design and Technology × Morningstar in Asia × Back offices in China, India and Thailand × Joint venture in Japan, Korea × Hong Kong, Taiwan and Singapore Proprietary & Confidential Overview – Our Experience × XML based data infrastructure × Adoption of XML in Morningstar.com since early 1998 × Company-wide adoption since 2002 × XML driven report generation engine × XML data packages × Early participant in ICI working group × Processing XBRL for both fund and equity × Providing software using XBRL data × 10K Wizard × Other products × Benefits we experienced in XBRL/XML × Accuracy × Ability to provide flexible presentations to data × Flexibility in supporting proprietary data extensions × Operational efficiency Proprietary & Confidential Overview – Future Plans × Expand coverage ×Corporate actions ×Global markets: China, Korea, Japan and many more × Products & Services ×Alerting services ×Full incorporation of XBRL data in B2B data deliveries ×Incorporate methodologies, business rules, templates of data presentation, labeling and multiple language supports into various taxonomies × The role we can play for XBRL Proprietary & Confidential What we do with XBRL Proprietary & Confidential What we do with XBRL × Parsing × × × × × US GAAP US Mutual Fund Risk & Return China: Shanghai Stock Exchange and Shenzhen Stock Exchange Japan: FSA, Tokyo Stock Exchange Korea: Kosdaq × Analyzing × Business rules to normalize parsed data × Data analysts check data quality and consistency × Client solutions × Directly presenting the data at real-time with full text searching capability × Power Morningstar products Proprietary & Confidential Product XBRL Adoption: 10K Wizard × Our initiative started when SEC began proposing initial specifications We database all tagged items, making them available for searching and alerting × We incorporate all the XBRL into our search engine, making them fully searchable along with other text and meta data × × Technical development – in products: × Incorporating content into our platform; × Display and download of raw XBRL from filings LINK; × Development of our own viewer, allowing viewing and downloading of XBRL in a more traditional financial statement format LINK; × Technical development – under development: × XBRL alerting × Peer analysis tools as we get a larger critical mass of data from SEC × Full incorporation of XBRL data in our B2B API × Inclusion of other XBRL content; i.e., other countries and agencies Proprietary & Confidential Challenges × Data quality issues by filer × Incorrect values × XBRL formatting errors × Differences between data in traditional text filing and XBRL filing × Manual consolidation × Keeping up with taxonomy revisions × Changes to collection and storage system × Maintain consistent history × Different taxonomies around the world × Balancing scalability and flexibility Proprietary & Confidential
