SEC Tuesday unveiled its IDEA (Interactive Data Electronic Applications) system, which will first supplement and then replace the agency's 1980s-era EDGAR database. Based on a completely new architecture, IDEA will put an end to the form-by-form searches for public company information that now slows down the EDGAR (electronic data-gathering, analysis and retrieval) process. "With IDEA, investors will be able to instantly collate information from thousands of companies and forms, and create reports and analysis on the fly, in any way they choose, according to an SEC statement.
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