There are many calculations and terms companies use that are not defined within the FERC. Until now, it’s been up to analysts to manually crunch these numbers from scratch. In addition to extra work, many of these calculations are quite complex, leaving the door open for a single wrong character in Excel to yield an incorrect value (that can be really difficult to identify!). We’re excited to show you a new way to build your own calculations – the Custom Term Creator. This updated tool allows you to combine and define FERC XBRL terms into custom formulas for use in the analysis your organization does regularly. (Spoiler… EIA data is coming soon!)
The calculations you can create are fairly robust, too. You can leverage unit conversions, constants, absolute values, nest calculations, and calculations over time – like year over year, quarter over quarter, and average. You can even use custom terms within custom terms, giving you the ability to make data crunching even quicker and easier.
Each time you build a new calculation, you can preview the results to check for formula errors before finalizing your work. The results are easily accessible and downloadable via Gateway. Each calculation is saved in your HData instance, so it’s pre-built and ready to use when needed.
To find the Custom Terms Creator, check out the new Toolbox on the main left side navigation bar. This feature is included in our Business Intelligence offering. If you’re not sure if you have it, or would like to add it to your HData instance, reach out to firstname.lastname@example.org.