Bloomberg has worked with Databricks to give mutual customers access to Bloomberg’s data offerings via Data License and cloud-based data management solution Data License Plus (DL+).
These solutions are designed to facilitate data integration, allowing for data analysis, insights generation and unified governance for structured and unstructured data, as well as artificial intelligence (AI) and machine learning (ML) on any cloud or platform.
Bloomberg Data License content includes but is not limited to reference, pricing, regulatory data, corporate actions and ESG data covering more than 70 million securities and 40,000 data fields. Users of the service can take data from their Bloomberg Bulk subscriptions and complement them with customised datasets from Bloomberg’s Per Security service.
DL+ is Bloomberg’s cloud-based data management solution that aggregates, organises and links a customer’s licensed Bloomberg Data License content, making it easier to use throughout the enterprise while reducing clients’ data ingestion efforts. The solution allows customers to control the scheduling of data acquisition and delivery to meet the strict timing requirements of their specific organisation’s processes and allows customers to build on cloud technologies.
Databricks Lakehouse architecture is built on open source and open standards and can support collaborative research, advanced machine learning applications (including Generative AI) with MLflow and productionalise data workflows.
Databricks global vice president, financial services, Junta Nakai, said the collaboration with Bloomberg holds potential across a multitude of industries and global financial markets. “With Databricks powered by Bloomberg’s vast array of data products, the possibilities for advanced analytics become truly limitless. Together, we are poised to revolutionise how organisations harness data-driven insights to make informed decisions that will shape the future of finance and beyond.”
Don Huff, global head of client services at Bloomberg, said: “We’re excited to announce this collaboration with Databricks, and to continue to expand efficient access to Bloomberg’s data in the cloud as customers continue to demand large quantities of quality data. We look forward to helping more customers benefit from this integrated solution through realising data integration efficiencies, accelerated cloud migrations, accelerated Target Operating Model (TOM) updates and supporting more use cases across enterprises.”
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