Apr
16
A Breathless Hush in the Close
Filed Under B2B, Blog, Financial services, Industry Analysis, news media, Thomson, Uncategorized, Workflow | Leave a Comment
As so often , the FT story by Andrew Edgecliffe-Johnson ( April 13) on Thomson Reuters was story of the week for me . As once in the mighty battles of Lexis and Westlaw , so now in the generational remake of the two financial market giants , there is something of the Great Game in the air . The competitive urges are fired by understandable needs for demonstrable success , yet at the same time the subject matter is the very stuff of which the future of all sectors of the information marketplace will be made.
The Thomson Reuters markets division will become two simplified platforms by the autumn , dealing with enterprize users on the one hand , and individual users and small operators on the other . These platforms will be web-based , and the Thomson Reuters servers will be able to be moved alongside client servers to ensure lower operational costs . The web -based environments clearly are designed to appeal to a new generation in the industry which joined since trading platforms were in place , as well as providing a contrast with the Bloomberg insistence on its dedicated terminals ( Shades of the dedicated Lexis box ! )
And something else as well . Andrew quotes Devin Wenig, the CEO of Thomson Reuters Markets , as saying ” The industry is a hugely different place from where it was in April 2008 ( when the Thomson Reuters merger took place ) and we think a lot of changes are permanent and structural. Big banks are disapearingbut we’ve created 1000 new accounts in …six months ”
And there is surely the essence . Players in rapidly restructuring networked markets will themselves have to be slimmer , do more on less and enable their clients to do more in the network at least for the same pricing . And that new generation of clients will expect a greater fluency in customization and personalization along with better risk management and improved collaboration features ( the launch of Eikon ) as well as interfaces to news and information ( like Insider ) which source video as well as text and allow brokers to offer analysis on video to their clients across the platform .
In short , Thomson Reuters are , with a few exceptions , facing very similar issues to those faced by a Pearson in education , or an Elsevier in STM . And from here on in the parallelism ceases and turns into convergence . Thomson Reuters announced a deal last week to bring Palantir’s QA Studio software to its platforms . This type of quantitative analysis allows data exploration , do pattern identification , test alpha strategies and collaborate . This pushes on with the developments in data mining began with ClearForest three years ago , and again parallels what is alreday happening ( Palantir’s markets are the intelligence , defense and law enforcement communities ! )
Where does the next push come ? Well , data management is now crucial , and so is compliance and risk management/reduction . And that sounds just like the issues facing diagnostic systems in the medical marketplaces . Often in financial markets there is too much news , and it is insufficiently auto or machine analysed , and human intervention takes too long : this points towards further pressure for automated news tagging so that it can be submitted directly to computerized trading systems . And here another common broad market problem occurs . Users and regulators begin to exert pressure at the lowest levels of data organization for common standards to emerge ( XBRL would be the case study in the finance field ). This moves the competition zone up a level , but that competitive element must remain because it drives everything forward . Without it , common standards turn into a reason for not changing anything . So play up , lads and play the game ! We still have to tackle workflow and process improvement before the end of this long information industry day !
Apr
7
The Long and Mobile Road
Filed Under Blog, Industry Analysis, internet, mobile content, online advertising, social media, Uncategorized | 1 Comment
Whatever you say in public – and this is as public as I get – tempts providence . It follows therefore that one should tempt providence properly , and bring down a whole building on one’s head rather than a mere ceiling . So here goes:
” I know the successor to Facebook ”
There , it is really quite easy . And it came to me naturally while contemplating the plainly inadequate oarsmanship of the Brothers Winklevoss and the demise of BeBo , suffocated in its sleep by the new regime at AOL . The twins , litigants in the Facebook case and winners of a $65 million dollar bonus for losing , are plainly seekers after Lost Causes . Thus they were rowing in the Oxford boat defeated by Cambridge in the recent Boat Race . I am not sure if they were connected to their lawyers and launching an appeal against the race judges while still rowing , but I am pretty sure that their mobiles were close by , and that their stay in the UK has been an intensively networked experience . And that is where , if they truly want to defeat Mr Zuckerberg , they should be investing their winnings . For the successor to Facebook is lurking out there in the mobile networks even now , built for the network , and not adapted to it as Facebook was .
Over at News Corp , the senior strategists are doing all-nighters to work out what AOL just got : neither MySpace or BeBo will make it . I could save them so much time . The answer is : Go and buy www.foursquare.com . Here is a made for the network social media environment that lets users rate the places that they visit , put them into the social media context , give them credit and points for discovering things ( I could be “mayor” of my local pub if I was’t too busy drinking there ) , and above all , like Facebook , give them credit in the eyes of their peers .
Amazingly then , tomorrow’s social media on the mobile/cell network appears to be a close relation of a number of web-based antecedents . Craigslist for a start . Mobile networking is all about spatial awareness and recommendation . Other parallel players might be the splendid www.brownbook.com , derived from the recommendation directory world , or Qype in Hamburg , Germany. If you are too late to buy FourSquare then there might be some ideas here . The latest BrownBook release now lists 34 million commercial entities globally where you can make comments and recommendations .
Once FourSquare is up and away bigtime ( sorry , the language goes with the subject) , you will want to create the real time links that show you when your friends are checked in to the bar or restaurant or hair salon or pub that you are just approaching on the street outside . Then the fun begins , but early investment before concept maturity is advisable . And only a few things remain to be said . One is that having discovered this I seem to have let the cat out of the bag before buying a major ( or any) stake . Which is why I am poor . Secondly , I seem to be saying that the future of social media and directories are inextricably linked , which is not where I thought I was going to end up . Lastly , if the history of the network is about constant innovation , then BeBo , MySpace and FaceBook can all be described as players who innovated once , and then stuck to the knitting . Which is why they will all be overtaken by the Next New Thing . And , guess what , you read it first here !
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