Introduction to EDGAR Explorer and SEC API data

Description

This class provides a discussion and set of practical exercises relating to Advanced Extract, Transform, and Load (ETL) processes using Application Programming Interfaces (APIs) a modern approach to downloading real time data. ETL is the first and most crucial step in data analytics, involving the extraction of raw data, its transformation into a suitable format, and the loading of that data into analytical workflows. Students will focus on preparing data for analysis, recognizing that improper preparation can lead to inaccurate or misleading results. In this session, we will continue working with real-time financial data from the SEC and other financial APIs, applying the ETL process to ensure the data is ready for in-depth analysis.

Motivation

Understanding and mastering advanced ETL processes is essential for accounting graduate students. In our use case, advanced ETL using APIs will help develop the skills of working with XBRL data, which is the modern way financial accounting information is provided to the public.

Review

This class extends early material which introduced the analytical mindset and skillset by focusing on the practical application of these concepts through the ETL process. In the earlier class, students learned how to approach data with a critical, analytical perspective, identifying key patterns (including using RegEx) and trends. Now, by incorporating real-time data extraction from financial APIs and applying rigorous data preparation techniques, students deepen their understanding of how a properly structured dataset serves as the foundation for robust analysis. This class reinforces the analytical mindset by requiring students to actively engage with complex, unstructured data and refine it for accurate analysis, thus bridging the gap between conceptual knowledge and practical implementation. By extending these skills, students are better prepared to handle modern data challenges in real-time.

Preparation

• There are no required readings for this class.

Class plan

• After a brief review, we will begin to work on a two class EDGAR explorer Case.
• First we will gain familiarity with the XBRL interface and the SEC's EDGAR database and the types of data available through their API.
• We will introduce two SEC APIs in today's class: 1) the EDGAR Submissions API, and 2) the EDGAR Company Facts API.
• We will begin to work with extracting real time data using ALteryx to connect to the APIs.

Tools

• Git and GitHub, Alteryx download tool and other Alteryx ETL tools.