Subscribers to ICIS can now choose to access their data via an application programming interface (API) streamed directly into their proprietary systems or via a Microsoft Excel plug-in, depending on which service best suits their business needs. These enhancements are designed to increase productivity and enable faster decision making in the commodities markets, as well as to reduce risk by minimising manual processes to eliminate errors, says RBI.
“The Excel Plug-In was developed in response to the needs of those regularly downloading multiple data series in one go. ICIS recognised the inefficiencies of copying and pasting such data, and manually integrating it into existing calculations and models. Our subscribers can now instantly download as many as 250 data series directly to their worksheets, streamlining this process and making it more time-efficient”, said Simon Platt, Product Director at ICIS.
According to ICIS, data updates are highlighted automatically and price history updates are sorted in the same column, making it easy to benchmark prices, identify opportunities, and manage risks. This facilitates smoother decision-making, and increased competitiveness for ICIS customers.
Alternatively, if customers need data delivered directly into their proprietary systems, the API can provide instant access to the latest prices as they are published, or insights into market fundamentals for one-off projects, saving time and effort when updating internal databases. “By making it easy to identify new or shifting data, ICIS’ Data Express is designed to make data handling and analysis simple,” said Simon Platt.