Fortune magazine recently published an article in which twelve stock analysts were given the choice of keeping their Bloomberg Terminal or having their bonuses increased by $15,000. Eleven of the twelve said that they would keep their Bloomberg. This article shows the attachment that people have with their Bloomberg terminals. The Bloomberg terminal is the platform on which the Bloomberg application software technology and the Bloomberg Professional service run. The beauty of the Bloomberg terminal is its pairing with the software technology through which users can access real-time financial data from virtually any terminal on the planet. In order to use the technology, consumers must subscribe to the Bloomberg Professional service. The pairing of the software and service allows users to customize their terminal screens to access whatever data they like. Users can access many different types of information on their terminal such as news services, television services, stock quotes, graphs and more. The Bloomberg technology operates on the largest privately owned network in the world. The extent of the network also allows users to access their Bloomberg information from their laptop or even their BlackBerry.
The Bloomberg terminal incorporates many other technologies seamlessly in order to provide its customers with a product like none other. Bloomberg LP developed a patented keyboard (input device) which enhances the security of each terminal by using biometric fingerprint technology. The Bloomberg terminal also uses a high-quality webcam which allows for video-conferencing between terminals.
Bloomberg LP is currently the only company that offers this terminal based technology but competition in Bloomberg’s original market, the financial news sector, is fierce. Companies like Dow Jones, Thompson Corporation and Reuters are all competitors in the financial information but none have a financial software technology that compares to that of the Bloomberg terminal.
Most large financial service companies have Bloomberg terminals, but at $1500 a month they are not cheap. Companies like Morgan Stanley, Goldman Sachs and many hedge funds use the Bloomberg terminal as an up to the minute stock, news and bond tracker. The technology is so customizable that more and more terminals and Professional services are being sold to law firms and personal investors. Companies can also use the Bloomberg technology to sell their own products or services such as television and broker services. As more banks, hedge funds and markets adopt the te
chnology, advertising your company or providing a service can be targeted at a specific demographic or social class through the Bloomberg terminal.
The only downside to the technology is the price. Subscription to the Professional service and unlimited use of the technology costs $1700 a month for one terminal and $1500 a month for several. This leaves smaller companies at a disadvantage because they cannot afford the real time financial access that the Bloomberg technology provides.
References:
Jelveh, Z. (2007). Screen Gems. Retrieved September 19, 2007, from
http://www.portfolio.com/culture-lifestyle/goods/gadgets/2007/07/09/Bloomberg-
Loomis, C. (2006). Bloomberg’s money machine. Retrieved September 19, 2007, from
http://money.cnn.com/magazines/fortune/fortune_archive/2007/04/16/8404302/index.htm
Wikipedia, Bloomberg page. (2007).
Retrieved September 19, 2007, from
http://en.wikipedia.org/wiki/Bloomberg_Terminal
The Bloomberg terminal incorporates many other technologies seamlessly in order to provide its customers with a product like none other. Bloomberg LP developed a patented keyboard (input device) which enhances the security of each terminal by using biometric fingerprint technology. The Bloomberg terminal also uses a high-quality webcam which allows for video-conferencing between terminals.
Bloomberg LP is currently the only company that offers this terminal based technology but competition in Bloomberg’s original market, the financial news sector, is fierce. Companies like Dow Jones, Thompson Corporation and Reuters are all competitors in the financial information but none have a financial software technology that compares to that of the Bloomberg terminal.
Most large financial service companies have Bloomberg terminals, but at $1500 a month they are not cheap. Companies like Morgan Stanley, Goldman Sachs and many hedge funds use the Bloomberg terminal as an up to the minute stock, news and bond tracker. The technology is so customizable that more and more terminals and Professional services are being sold to law firms and personal investors. Companies can also use the Bloomberg technology to sell their own products or services such as television and broker services. As more banks, hedge funds and markets adopt the te
chnology, advertising your company or providing a service can be targeted at a specific demographic or social class through the Bloomberg terminal.The only downside to the technology is the price. Subscription to the Professional service and unlimited use of the technology costs $1700 a month for one terminal and $1500 a month for several. This leaves smaller companies at a disadvantage because they cannot afford the real time financial access that the Bloomberg technology provides.
References:
Jelveh, Z. (2007). Screen Gems. Retrieved September 19, 2007, from
http://www.portfolio.com/culture-lifestyle/goods/gadgets/2007/07/09/Bloomberg-
Loomis, C. (2006). Bloomberg’s money machine. Retrieved September 19, 2007, from
http://money.cnn.com/magazines/fortune/fortune_archive/2007/04/16/8404302/index.htm
Wikipedia, Bloomberg page. (2007).
Retrieved September 19, 2007, from
http://en.wikipedia.org/wiki/Bloomberg_Terminal
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