Database applications on financial performances of companies are
widely used in fields like banking, equity markets, transfer pricing,
academia and so on and so forth. Analysts in these fields use
the database applications
- to view information on companies in pre-formatted tabulations or
- to obtain information by querying the database through an interface.
The databases hold different types of information. For example, there is
information on annual financials of the company, there is information
on products sold by the company, there is information on the stock
market performance of the company and so on and so forth. Generally,
users need to query on each kind or type of information separately.
User interfaces of database applications are not built to extract all
data on all types of information in one go. Each kind of information
needs to be ‘queried’ separately.
Analysts generally require multiple kinds of information for their
analysis. And, they require information on multiple companies or sets of
companies. They have to execute several queries to obtain the information
and data that they seek.
When multiple queries are to be executed, there is generally a wait time
between consecutive queries. The second query cannot be initiated until the
first query is completed. And if the first query is time consuming, then
the user needs to wait till the ‘progress bar’ on the screen disappears.
Given that the user queries on the database application continuously
throughout the year, the total amount of time wasted as ‘wait time
between queries’ becomes quite significant. The user is also unable to
shut down his computer or laptop till the processing of all his queries
is finished. This holds up the user and wastes his time. The user would
be happy if he can fire his queries and shut his laptop or engage in
some other work and revisit his database application after some time.
ProwessIQ meets this requirement of users. It eliminates his
‘wait time’. A user can simply initiate queries one after another
and even shut down his machine without waiting for the processing of
any query to be complete. Once a query is initiated by the user, the
processing takes place on CMIE’s servers irrespective of whether the
user’s machine is working or switched off. Later, the user may, when
s/he feels like, login into ProwessIQ from the same machine or from a
different machine and download the outputs and work on them. This saves
a lot of time particularly of users who use the application intensively
for crunching the financial data of companies.