The Wall Street faithful are known for being an addictive bunch who live and die by timely data. The growth of the internet spawned a new breed – Day Traders – who became glued to their computers to make a quick buck. They often look for pushing small margins and quick turnarounds in bulk.
Google is about to change the world of the stock man… but not only with Android.
As we’ve already stated, the stock market lives and dies by the digits. Up to now, the most widely used source for timely, free stock quotes has been Yahoo! Finance. It’s a great (and free) resource, but the data is typically delayed 15-20 minutes.
If you’re making a living on the stock market, that 15-20 minute window could mean the difference between getting in early and making a huge profit or missing the boat at a price that isn’t worth the while. By the time you get the data on Yahoo! Finance it’s already ancient history to the real professionals.
Google explains beautifully: “Historically, real-time stock data was not freely and widely accessible. Either buried behind subscription walls or brokerage sites, consumers typically had to live with 15 or 20 minute price delays. In the world of finance, time is indeed money, and it’s critical to have timely and accurate data.
Providing free real-time stock quotes is consistent with our mission, and we’ll continue to work hard to offer tools, features and more real-time data so investors can make informed and timely financial decisions.”
Ladies and gentlemen… introducing the next big financial sector juggernaut… GOOGLE FINANCE! With this move they have IMMEDIATELY become, what SHOULD be considered, the #1 source for real-time stock data. What will happen to the folks who made you pay for it before? Looks like they’ll be swallowed by the open (source) mouth.
But this isn’t only about Google Finance – this about the bigger picture at Google – and this real-time data definitely fits into the Android picture. Because now, folks that were previously glued to their computers, will have real-time access to the stock market via their Android phone.
What doesn’t exist yet? Applications to help them access their accounts, owned stocks, watched stocks, etc… in combination with this newly offered free data. Android will allow developers to create tools that integrate this wealth of information with helpful applications, allowing Android phone owners to hold FULL ACCESS to information and action directly in their palm.
I hope this puts some wheels in motion for developers. This market seems to have been underserved in the initial batch of Android Applications and this presents a viable opportunity to make useful applications… that pay off. And the competition seems a heckuva lot less cluttered than making another of the 10 billion apps that claim to be the next best “mobile social networking” app.
Welcome to the mobile stock market, fellow phandroids… courtesy of Google.