Proceedings of The 4th International Conference on Applied Research in Management, Business and Economics
An Empirical Taxonomy of Financial Data Services
Dario Russo and Gianluca Mura
The paper proposes an empirical taxonomy of financial data services in the financial market services domain, mainly from a buyer’s perspective. There are many different types of instruments and hundreds of different markets for investment, leading to an extremely large and hard-to-define universe of financial data; the related commercial offer is extremely heterogeneous and complex. The objectives of the taxonomy are: to foster a sharable classification of products and services; to introduce a product and service naming convention; to enhance the quality and the depth of spending analyses; to support the use of artificial intelligence techniques in searching and selecting financial data providers. The taxonomy is structured into three different levels – domains, meta-classes and sub-classes – and includes a series of attributes. A comparison is also made with some existing commercial classifications and other taxonomies available to highlight analogies and differences. Finally, a prototype ontological model of the domain of interest is presented.
keywords: financial data services; taxonomy; procurement; ontology.