Most desktop applications which provide databases on financial
performances of companies also provide capabilities to query those
databases. Users are allowed to query the databases using the indicators
provided by the database application.
Now, most of these database applications provide facilities to users
to construct their own indicators and ratios. Users may not
agree with the way a particular ratio is constructed in the database
application and he may wish to tweak it to suit his/her
requirements. Users, therefore, construct their own ratios and other
indicators using their own custom formuale. These custom formulae and
indicators are stored on the local machine of the user i.e. the local
machine on which database application is installed.
Few Database applications also enable users to construct their own sets of
companies if they do not like the pre-defined sets of companies available
in the database applications. Users also prefer to maintain their own
batches, data templates and chart templates.
The traditional Prowess application of CMIE was also no exception. Like other
database applications, it too stores the user-defined formulae,
reports, templates, sets of companies as well as outputs on the local
machine of the user.
This local storage of these user specifications was a disadvantage to
users. In case the installation on a particular machine crashed or if
the installation had to be shifted from one machine to another, then
such user specification files had to be manually copied from one machine
to another. There as a danger that Some were these likely to be missed
out and then there was the added possibility of them having been copied
into the incorrect locations. The user would then worry that their
specifications are missing, or had got inadvertently deleted.
ProwessIQ overcomes this handicap or disability of database applications
in general. All the user-defined specifications are stored on CMIE
servers in areas specially marked for the particular user. The user can login
into CMIE’s database servers from anywhere in the world and access his
specifications and query the database or generate charts using them. This has come
as a great relief to users who used to be constantly worried on this
account. Effectively, now with ProwessIQ, the user-defined specifications
and even outputs of queries are now safe and secure and accessible from anywhere.