Once large amounts of information become available in XBRL format, the potential
for analysis explodes. Through the Internet, XBRL will provide analysts and investors better
financial data for informed decisions. In the wider financial community, auditors, analysts,
and journalists will use XBRL for data aggregation and research (Berry 2002).
NASDAQ sees XBRL as a way to improve market efficiency and its own business.
NASDAQ is involved because improving the distribution and analysis of corporate financial
results will broaden the market for NASDAQ’s own trading services (Berkeley et al. 2002).