August 28, 2008
SEC Unveils IDEA, Successor to the Commission’s 1980s-era EDGAR Database
Remember when Charles E. Simon & Company was the go-to information broker for SEC filings? Then came EDGAR. Now IDEA (Interactive Data Electronic Applications).
Built from the ground up to make reported data interactive, the SEC's IDEA will at first supplement and then eventually replace EDGAR. With IDEA, investors will be able to instantly collate information from companies and forms, and create reports and analysis on the fly.
SEC data users who currently use EDGAR will be able to continue doing so for the indefinite future. During the transition to IDEA, investors will be able to take advantage of new interactive, IDEA-like features that will be grafted onto EDGAR in the short run. This will make it possible for investors to tap IDEA’s advanced search capabilities, and to use the information from EDGAR within spreadsheets and analytical software. The EDGAR database also will continue to be available as an archive of company filings for past years.
Additional information in the SEC press release which includes a link to a video demonstration of IDEA. [JH]
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