If you want to find out what Tesla’s market capitalization was over the past ten years, and you want to access that data in Excel, it seems like it should be cheap and straightforward to do so. If you’re a developer and you’re looking to get the Oil Industry’s performance charted on your website, it seems like accessing that data should be a no brainer. Thanks to a technology called XBRL, this has become easier over the past several years.
The truth is – there is a whole world operating behind the scenes of financial data feeds. There are professionals, companies, industries, governmental bodies and hundreds of thousands of employees working to deliver you your historical market cap.
Outside of the Intrinio Fintech Marketplace there aren’t many options for accessing this data. The options that do exist are prohibitively expensive for two reasons.
- Financial data in its raw form requires normalization.
- Current normalization methods are manual and outdated