Bloomberg has formed a strategic collaboration with Databricks, the data and AI company, allowing mutual customers to access Bloomberg’s extensive data offerings via Data License and cloud-based data management solution Data License Plus (DL+).
These solutions have been designed to facilitate seamless data integration, setting the stage for the acceleration of 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. This ensures users get the right data to meet their workflow needs, all backed by Bloomberg’s Unified Data Model.
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 while maintaining transparency, consistency, quality, stability and the specific dataset needs of their organisation.
Databricks Lakehouse architecture combines elements of data lakes and data warehouses to help customers reduce costs and deliver on data and AI initiatives faster. Built on open source and open standards, the platform eliminates silos that historically complicate data and AI. The environment can support collaborative research, advanced machine learning applications (including Generative AI) with MLflow and productionalise data workflows.
With the inclusion of Databricks Unity Catalog capabilities, customers can also benefit from enhanced discoverability of Bloomberg data, AI-enhanced productivity in processing this extensive financial dataset, and a simplified yet robust governance and permissioning structure. This streamlines access to Bloomberg data, making compliance easier and accelerating data, AI and machine learning projects.
