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Bloomberg Industries Pioneers ‘Disruptive’ Research

December 5, 2013

In the beginning, there was data. Then came analytics; and then there was news.

Now Bloomberg Industries (BI), the company’s research product, brings these elements together in a package that helps customers quickly identify and interpret the most relevant content.

BI’s research speaks to the entire ecosystem of an industry, including analysts, portfolio managers, sales people, traders, corporate executives, and investment bankers. With research teams in Princeton, New York, Washington D.C., London, and Hong Kong, BI produces on a daily basis short-form research paired with interactive exhibits like charts that bring data to life. The reports save customers time and help them solve problems they didn’t even know they had.

BI’s first full-time employee, David Dwyer, was hired in mid-2009 to build a global research team. Dwyer had more than 20 years of experience in the research industry, including four years as head of U.S. Research for JPMorgan.

“It was an exciting and challenging time,” says Dwyer, who heads BI. “We started with just an idea and a couple of people, but we were committed.” Soon 20 veteran analysts across multiple sectors came aboard, and another 20 associates moved from Bloomberg’s Global Data group to provide critical support. “We did not start in a small way,” Dwyer attests.

It took a year to inventory the vast data sets and analytical resources available on the Bloomberg terminal, and then to map each element to affected industries. Partnerships with dozens of third-party data sources filled many gaps.

BI’s research is delivered through dashboards, one for each industry sector (e.g., Natural Gas), which serve as “a homepage for understanding what’s going on in the industry,” explains Tim Lynch, operations manager for BI. The research is unbiased and objective, without the traditional sell-side buy, hold, and sell ratings – a key product differentiator.

The information is also interactive. You can, for example, click a chart to change currency values. This beats the traditional, static, multi-page PDF report, which is outdated by the time it reaches the end user. “It’s a disruptive innovation,” Lynch says.

“In early 2010, we decided against long-form research and instead started writing BITs – Bloomberg Industry Thoughts – which are concise one-paragraph interpretations linked to an interactive exhibit,” Dwyer says. “These BITs are then woven together to tell a story.”

In late 2010, the international team ramped up. Sam Fazeli, then head of European Research for Piper Jaffray, was hired to build the BI research team in London and lead the European research team. In early 2012, Tim Craighead, who joined BI after more than 20 years in research product marketing at Goldman Sachs, transferred to Hong Kong to launch and manage Asian research.

BI’s global unveiling came in June 2012. Since then, BI has established itself as a critical research tool in more than 100 industries, each served by its own continually updated dashboard. Communities are being developed around BI via industry chats and roundtable gatherings.

Corporations are especially interested in BI, because the research aspect adds value in areas like business development and strategy. BI has also started to add credit, government, and litigation research to the mix, and is working closely with BGOV and BBNA to identify new business opportunities.

BI now comprises 130 research professionals. “We think the number of potential BI users is multiples of where we are today,” Dwyer says with confidence.

Contributed by On Bloomberg, Bloomberg LP’s internal newswire.