Cambridge, Mass., June 17, 2003 - Endeca, the only provider of Guided Navigation and advanced search solutions, today announced Wall Street Source, an online financial news and data service, has chosen Endeca ProFind with Guided Navigation to increase the efficiency and effectiveness of its clients by allowing maximum exposure to all relevant finance and news-related information across both structured and unstructured data sources.
Wall Street Source (WSS) delivers breaking news, research and market data over the Internet to institutional and retail investors. WSS gives users a choice of over 100 databases and increases the efficiency and effectiveness of a range of financial services professionals including Buy-Side Equity Traders, Portfolio Managers, Hedge Fund Managers, Sell-Side Institutional Brokers, Traders and Syndicate Managers. Documents are in multiple formats, including HTML pages, PDF files and XML wrappers from external data feeds such as Comtex, Dow Jones and Edgar.
Initially, WSS' existing technology powered search for its Web site. However, the company wanted to enhance the way in which the existing structure in the data was leveraged. WSS needed a solution that would support multi-dimensional refinement, while reducing the time and labor costs involved in indexing and frequently updating large amounts of data.
With Endeca ProFind, users of Wall Street Source will be able to easily navigate through all types of financial news from over 1 million documents - with 40,000 new documents being added to the index throughout the day. Endeca ProFind's advanced search and Guided Navigation will be used across research reports, press releases and news items from multiple providers to help users search into the text to find what they are looking for, as well as related information that they did not know existed. Users will be able to search and refine based on the existing attributes in the data - up to as many as 18 attributes per record. This capability will give users maximum exposure to all relevant information based on their query while providing a context for further exploration and refinement.
"In evaluating search and navigation vendors, Endeca stood out as the only provider who could enable the revenue enhancement, operational efficiency and customer satisfaction we desired," said John Albert, CEO Wall Street Source. "Endeca ProFind with Guided Navigation will help build our brand through customer retention while growing our bottom-line by differentiating us as a provider with easy, fast and efficient access to all types of financial information."
Built on the award-winning Endeca Navigation Engine, Endeca ProFind enables users to easily navigate through enterprise data to find the precise document or piece of information they need - quickly and efficiently - leading to increased user productivity. Endeca ProFind empowers users with the tools they need to find only relevant data as well as discover information they may not have realized existed. Endeca ProFind, with Guided Navigation and best-of-breed search technology also shields users from dead-ends and will never return endless lists of irrelevant results.
"Endeca ProFind with Guided Navigation is unique in that it provides a single platform for searching both structured and unstructured data," said Steve Papa, CEO and founder, Endeca. "By unlocking the value of the existing data and allowing clients to access it in its most relevant and up-to-date form, Wall Street Source will not only be able to provide a new level of customer satisfaction, they will quickly be able to denote added value for their service compared to other information providers in the market."
Endeca ProFind eclipses conventional "query and response" approaches to enterprise search, which place the burden on users to be familiar with the data set, have an idea of what to look for and how to describe the item, and finally to structure a query in a way the system will understand. In contrast, Endeca ProFind with Guided Navigation provides an intuitive interaction model that eliminates all irrelevant information, and dynamically guides users with only relevant and valid choices.
About Endeca
Endeca offers innovative advanced search and Guided Navigation information delivery solutions for companies who need to integrate, discover, and navigate enterprise data to solve the business problems associated with information overload. Endeca technology is already at work for leading retail, financial services and business-to-business companies like Barnes & Noble, Putnam Investments, and Arrow Electronics. Endeca solutions empower users to explore and discover relevant relationships in data and find accurate and precise results with unprecedented speed. Patent-pending algorithms provide a scalable, Web-based infrastructure for data exploration, leading to highly relevant and meaningful search results every time. This technology can be applied across a wide-range of enterprise and customer applications including Customer Relationship Management (CRM) analytics, catalogs, directories, search and portal integration. Endeca is a privately held company headquartered in Cambridge, MA and is backed by leading venture capital firms including Ampersand Ventures, Bessemer Venture Partners and Venrock Associates. Endeca is an IBM Advanced Business Partner and is a preferred provider of IBM’s WebSphere Commerce Group. For more information, please visit www.endeca.com or email us at info@endeca.com.
About Wall Street Source
Wall Street Source Inc., founded in 1997, is a news and information company headquartered in New York City. Wall Street Source has developed a Web-based platform of news and information that more than 800 financial institutions currently use, incorporating data from 400 separate databases into a seamless and user-friendly system. Wall Street Source is a leader in Web-based solutions for the financial community. For more information, visit www.wssource.com.