Students at the Beacom School of Business will have the chance to utilize the Ellis Finance and Analytics Lab, which will use Bloomberg terminals and other softwares by fall 2019.
The Bloomberg terminals is a software program that uses information ranging from corporate data, research, news and analytics for students and faculty.
According to a university press release, the Bloomberg terminal is “the is the industry standard for finance and business information.”
Venky Venkatachalam, dean of the Beacom School of Business, said this technology will benefit faculty and students.
“This is cutting-edge technology that’s going to provide our students with a great world-class learning environment and a great research platform for many of our faculty,” Venkatachalam said.
Venkatachalam said that the Bloomberg terminal is what is being used in the real world.
“Bloomberg technology is not just for one single discipline, mainly finance. Obviously if you go to Wall Street, all the Wall Street firms use the same technology that we are going to be using here. That’s how powerful it is,” he said. “You get real-time data and you also get data in the longitudinal form for many years.”
Venkatachalam said the Bloomberg terminal will differ from the current Morningstar software by having more resources.
“That is a simulation software, so this lab will not only have Bloomberg data and Bloomberg terminals but also will have Compustat data, it will also have Morningstar, so there’s a wide sweep of technologies that will be made available in this lab,” Venkatachalam said.
Jennifer Lemaster, director of marketing & external relations for the Beacom School of Business said these new resources will make USD more competitive.
“I think from a marketing perspective the new Ellis Finance & Analytics Lab will just continue to make us even more competitive not only in the region but on a national level,” she said. “It will show our prospective students that we are dedicated to giving them the tools they need to succeed in their careers and give them learning opportunities that they might not expect from a midwest state school.”
Sophia Lima, a junior accounting major, said that the Bloomberg terminal will apply a lot of hands-on training.
“I feel ecstatic about it. I know this is something the organization and the department at the school have been pushing for a couple of years,” Lima said. “Our members are able to get really hands-on training with what they’ll be using in the workforce.”
Lima is also the president of Coyote Capital Management and plans on using the Bloomberg terminal for the organization.
“Coyote Capital Management is hoping to utilize this resource for our organization,” Lima said. “I think that this will become the main resource we kind-of transition to using so it will kind-of have all the data that’s elsewhere and even more.”
Lima said that the Bloomberg terminal will be beneficial for business students.
“I think (the terminal) will be beneficial to business students because this is what they’ll see in the workforce… the opportunity to be able to use a resource that’s being used in the market right now I think is a leg-up for our students not only in the region but also nationally.”
The Bloomberg terminal is able to be an upcoming resource for the Beacom school of business because of the “generous gift from the family of Gary Ellis,” the press release said.
“Garry Ellis is one of our distinguished alumni… we are very delighted and really grateful to Gary for this generosity and for making this contribution that’s going to create this transformative learning environment,” Venkatachalam said.