XBRL Gathers Momentum With SEC and EC Attention

XBRL Gathers Momentum With SEC and EC Attention from Bank Systems & Technology notes that XBRL (an XML format for reporting a company's financial information) is receiving alot of support as more companies adopt it. It is receiving support now from the SEC in the US and from the EC in Europe.

Aside from the advantages for stock analysts, which will be able to pull in financial reports quickly and analyze them, this has some real cool implications in the Data Warehousing world. Pulling in competitors financials may be a snap one day, giving a piece of one of the things most data warehouses are sorely missing (and have no plans to integrate, because it can only be done with much manual effort right now) - data from sources external to the company. Knowing that even though sales increased 15%, but market share fell by 2%, would be very valuable intelligence indeed for any reporting environment.