Stock Research Moves Past PDFs as Customers Demand More for Their Money

With investment firms cutting costs and portfolio managers combating a barrage of information, financial research shops around the globe are looking for new ways to keep their product relevant. From a report: A raft of startups have launched to support that effort, offering tools that can use Google search data to get an edge on retail sales, deploy drones to examine oil supplies or allow investors to rank analysts and bid on their reports, like a Netflix or eBay of research. Whether these innovations will lead to smarter investments, or be used widely enough to prop up research budgets, is yet to be seen. But the startups are forming alliances with banks, brokerages and investors by the dozen. People who use and sell the tools say the trend is changing how research is financed, distributed and consumed for the first time in decades. “We are coming up on a very

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