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3. Collecting Financial Data > The Best Data for a Fee

The Best Data for a Fee

Some data is worth the price you pay for it, making it significantly easier to evaluate company performance.

Data providers that charge for their data typically earn their keep by manipulating the numbers reported by companies [Hack #15] in one of two ways. They create standardized data by assigning the reported values for income and expense items into the most appropriate standard categories. In addition to saving you time in calculating or categorizing reported numbers, standardized data definitely saves you from deciphering the more enigmatic income or expense categories used. Normalized data removes the impact of one-time events so that a company’s ongoing performance is more visible.


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