City Firm to Test Product on Wall Street / 6 Major Financial Firms to Test Insight Data Base
Case, Patti, THE JOURNAL RECORD
In fact, when the primary product of Insight Information Inc. is ready for marketing, Wall Street is precisely where it will be tested - with six major league financial firms, says Gregory E. Smith, chairman and chief executive officer of the new firm.
Insight Information, headquartered at 3555 NW 58th St., is an adolescent company that is preparing to market INSIGHT, an integrated microcomputer-based software and database product for use by professional money managers, investment bankers, investment research analysts, commercial lending officers and corporate treasury or planning departments.
"The product will provide more financial information than the combined offerings of all the other services on the market," Smith said.
Insight Information is an addition to Oklahoma City's economic development that has gone unnoticed until now under Smith, 30, a former vice president in the Thomson Mckinnon Securities Inc. investment banking group. Other officers include Roy A. Nuttall, 30, vice president for production; and Wood Rehling, 39, vice president for software.
The company will test market INSIGHT with the New York-based firms of Rockefeller Associates, First Boston Inc., Prudential-Bache Securities Inc., Lazard Freres & Co. and Stearns & Co. Inc., plus Alex Brown & Sons Inc. of Baltimore.
Those companies will pay a reduced rate for the service in exchange for helping test the product, Smith said.
Once the system is ready to market - sometime near the first of 1987 - Smith expects employment to rise from its present level of 25 to an eventual 120 in mid-1987 locally. At that point, he probably also will have quadrupled his need for office space, which currently stands at 5,000 square feet.
The annual price of INSIGHT will range from $36,000 for weekly updated service to $100,000 for daily updated service.
Money handlers are familiar with services similar to Insight's product. There are six electronic data bases on the market, including Dun & Bradstreet Corp. and McGraw-Hill, Smith said.
However, he says Insight will provide a much more comprehensive product.
- A database loaded on a hard disk drive, supplemented weekly with updates on floppy diskettes shipped via mail express, or on a daily basis via modem.
The database will contain approximately 3,500 items regarding, initially, more than 6,000 domestic public companies and their publicly traded securities (eventually all domestic public companies);
- A software package integrated with the database that allows searching (screening, sorting, ranking) the database on any item and subsequent analysis of the data resulting from such database searches.
- Analytical tools with the software that include portfolio analysis, report generation, statistical and time series analysis, technical analysis, graphics, full function bond and options/warrants calculator, and full on-line data definitions for all items in the database.
- On-line help, tutorials and interface for one or more of the real-time dial-up quote services, and support of the up-loading of user data and down-loading of Insight data to Lotus 1-2-3 or Symphony spread sheet software.
The database and software will be on-site, as opposed to existing services, most of which require a telephone call to a centrally-located database for access to information. …