Wednesday, July 9, 2008

From Documents to Data: More Change on Securities Mosaic

Okay, let's get the good stuff out of the way first. Yesterday, I mentioned that we had added our vast, classified repository of Risk Factors data to Securities Mosaic. In the same spirit of excitement and abundance, I can report this morning that we have also made a number of other significant new changes to the Securities Mosaic website in the past few days. Here is the rundown.

1) Enhanced Exhibits Search – Now, dual text searching (for exhibit labels and full text) give legal professionals incredibly granular and precise access to language from hundreds of different kinds of contracts and agreements

2) New Section Searching on the All SEC Filings page – New Section Search categories for Financial and Accounting Information and for Prospectus Information make available 16 new filing sections for internal text searches. We will be adding these sections to Item Extractor later this summer.

3) Expanded News Archive on Securities Mosaic
– Expands archives of all of our Securities Mosaic News and Current Awareness alerts to include the last six months (rather than the previous 10 alerts).

As with Risk Factors Search, the enhanced Exhibits Search and the New Section Search are of special interest. Both are like the sliders on a Google Map - they give you the power to quickly zoom in on data landscapes and isolate detail in the data that would otherwise be inaccessible or, at a minimum, take hours to locate.

These enhancements to Securities Mosaic all extend and deepen the trend toward research organized around data extracted from documents. The documents themselves have become almost irrelevant, not because they are not appropriate vehicles for some kinds of data presentation, but because they are a variable now, not a given. In many legal research and legal practice contexts, the information in documents is best delivered to the practitioner via a data-rich search environment in which the document itself is irrelevant. Expect this trend to continue and, indeed, to accelerate.

Next: Legal Research in a Ferrari