Bloomberg wants to be everything

Gordon Smith of the Irish Times writes about Bloomberg and interviewed CEO Dan Doctoroff about how its operations are expanding in multiple areas.

Smith writes, “The company’s footprint has also grown to include a news service spanning multiple media channels that includes print since the acquisition of BusinessWeek in 2009.

“The media products have tens of millions of unique viewers every week. Doctoroff says this is part of a strategy that underpins the company’s professional offerings.

“Bloomberg Professional remains the core product. Even allowing for the financial crisis, on Doctoroff’s watch the client base has grown from 268,000 at the end of 2007 to 310,000 by mid-2012.

“One area earmarked for expansion is enterprise data management (EDM). Explaining the rationale, Doctoroff says: ‘Everybody spends all sorts of time, money and other resources putting this information together and then distributing it . . . Nobody does it well. It is not an activity that makes anybody money – it’s just something you have to do in order to operate your business.’

“At a time when information volumes are growing and regulatory scrutiny is increasing, there is a clear business opportunity in addressing a significant technical challenge.

“‘So the insight is, bring that data in to a central party one time, let us organise the data, let us develop the tools so that you can pick and choose what data you need, when and for what, saving you lots of money and enabling you the client to focus on those activities where you truly add value.'”

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