IntelligentEnterprise: “What’s Holding XBRL Back?”
March 30th, 2005 by Mark Rittman
What’s Holding XBRL Back? : "Ventana Research believes metadata tagging
holds great promise for the future of business intelligence and business process
automation. So why is it taking so long for the Extensible Business Reporting
Language (XBRL) to gain traction in the marketplace? We propose a number of
issues that are holding XBRL back from reaching its potential. Ventana Research
recommends that organizations unfamiliar with XBRL take advantage of new tagging
tools to raise their understanding and perhaps practical use of this useful
metadata taxonomy focused on financial analysis and transparency."
XBRL sounded like an obvious winner when
it started getting talked
about last year, but as the article says it’s gained little traction since
then despite the
apparent
benefits.
This CFO.com article talks about how SEC submissions can now be submitted
using XBRL but makes the comment that for individual organizations, there’s not
really much benefit yet from tagging your own data – the benefit really arises
when others tag their data and therefore make it easier for you to analyze it.
Still, it’s one to watch though.
