What is Special About Bloomberg?
Bloomberg provides users access to real-time market data and can be used as a messaging system.
Refinitiv’s Eikon offers similar information at a lower cost; however, seriously challenging Bloomberg would require offering all its services simultaneously, which is no small task.
Bloomberg is the go-to source for real-time financial data worldwide, offering current news reports, historical market information, charts, and an easy messaging system. Bloomberg is widely used by financial institutions worldwide and taught at universities and colleges around the globe.
Bloomberg’s price may seem steep, but its vast amount of information and user convenience justify its premium pricing structure. Many competitors try to match it by offering similar services at reduced costs – the key to their success is reduced “churn,” so users remain onboard even if other platforms compete with it.
Bloomberg’s interface is command-based, which may initially seem daunting. After some practice and remembering some shortcut keys, you should become adept at using Bloomberg more quickly; for example, if you wish to research specific stocks by pressing their yellow EQUITY keys.
Bloomberg offers a messaging system that allows users to communicate easily with each other via instant messages, email, and telephone calls. This feature can be particularly beneficial regarding teleconferencing with colleagues or monitoring individual security prices. Furthermore, this user-friendly solution reduces data overload.
Though many competing platforms exist, none can match Bloomberg regarding real-time market information. Many are either incapable of producing similar quality or lack sufficient user numbers to match Bloomberg.
To navigate the Bloomberg system, use either the Menu button on your screen or the green MENU> key on the keyboard. As it’s structured hierarchically, use yellow market sector keys to move up; pressing HELP displays help documentation specific to the current function.
Bloomberg provides a range of reporting capabilities, from market-moving news to real-time quotes and financial markets data. Furthermore, Bloomberg offers an exclusive messaging system and access to its Bloomberg Terminal computer software program allowing professionals in finance to track real-time information and trade on stock markets.
The Terminal is a high-end platform offering multiple services bundled together, making it quite expensive for most users. Multiple competitors can be found for significantly less cost and provide more user-friendly interfaces.
Bloomberg Terminal’s primary function is providing real-time financial data and global political and financial news, but it also features various functions that make it invaluable to finance professionals. These functions include PEOP (People), a Wall Street LinkedIn, FA, GEO, and PROD – instant lookup of company sales earnings production in different countries; and several others that make the Bloomberg Terminal an invaluable tool.
An essential tool for financial professionals, Bloomberg offers real-time quotes and news in one platform – making it possible to stay up-to-date on investments or the economy, plus receiving breaking business or world news updates via their news feed.
Bloomberg provides more than just standard financial data: they also offer innovative visualizations and analyses, such as their Bloomberg Map feature, allowing users to visualize natural disasters’ effect on commodities like oil and gold. To access this function, type BMAP into the search bar.
Academic institutions seeking to use its terminals in finance classes may qualify for significant discounts from Bloomberg Terminal. Schools purchasing three terminals will get nine additional terminals for free – this can bring down costs to as little as $3,000 per terminal annually and compete more effectively against rival products offered by Reuters and Dow Jones that provide similar products at much cheaper costs.