In the ever-evolving landscape of financial data integration and standardization, OpenBB has been revolutionizing the way individuals and organizations handle data from multiple data providers by utilizing our open-source products.
We have been talking about the OpenBB Platform v4 over the past few months. This is such a milestone for our team and for the financial world that we are renaming the OpenBB SDK into the OpenBB Platform.
The OpenBB Platform consists of the OpenBB Core and OpenBB Extensions.
Let’s dive into each of these, individually.
OpenBB Core
The OpenBB Core empowers quants and finance developers to create powerful data solutions, offering unparalleled simplicity, flexibility, and scalability. It follows the principle that "less is more."
The core will consist of two main components:
1. Data Standardization Infrastructure: This ensures that regardless of the type of data processed by the core, users can expect consistent conventions and naming. This facilitates a seamless experience, even when the data comes from completely different data providers.
2. Data Source Integration: Developers will be able to effortlessly connect and integrate various data sources, including databases, APIs, and cloud storage systems.
a) Official partner integrations will be available by having access to official endpoints from data vendors. This ensures the integrity of the data and provides a reference for what data is available to the end user. Our affiliate program will detail where commercial agreements are in place with OpenBB.
b) Additionally, community provider integrations will be available, allowing the community to contribute their own integrations for specific use cases or share them with others through the open-source codebase.
OpenBB Extensions
OpenBB extensions enhance the capabilities of the OpenBB Core, allowing developers to create custom functionalities and customize the overall Platform according to their specific needs. It is important to note that these extensions can be used as a standalone or integrated with the rest of the openBB ecosystem.
These extensions can be classified into two categories:
Official extensions developed and maintained by the OpenBB Team, such as the ML/AI Toolkit, Econometrics, and Reports;
Community extensions developed by the open-source community. These extensions focus on enabling intelligent data processing and custom workflows that assist users in their investing decision-making process.
Key Advantages of new Platform v4
By combining the strengths of OpenBB Core and OpenBB Extensions, the OpenBB Platform offers unparalleled advantages for developers and organizations:
Enhanced Flexibility: The modular architecture of the Platform allows developers to choose and integrate only the components they need, avoiding unnecessary complexity.
Scalability: The OpenBB Platform seamlessly scales with your data integration requirements, ensuring smooth performance even with large volumes of data.
Extensibility: Developers can create their own extensions and contribute to the OpenBB ecosystem, fostering collaboration and innovation.
Time and Cost Savings: With its intuitive interface and pre-built components, the OpenBB Platform accelerates development cycles, reducing time-to-market and costs associated with custom solutions.
The reimagined OpenBB SDK into OpenBB Platform (OpenBB Core and OpenBB Extensions), revolutionizes the data integration landscape.
By leveraging the power of OpenBB Core for data integration and standardization, and harnessing the capabilities of OpenBB Extensions for customization and advanced functionality, developers can unlock new possibilities and build cutting-edge data solutions.
Whether you are working with diverse data sources or performing complex data transformations, the OpenBB Platform empowers you to conquer any data challenge and propel your organization towards data-driven success.
We invite users and enthusiasts to explore the OpenBB Platform v4, now available for download and installation from the OpenBB Hub, Github, and PyPI.
Inside OpenBB: a peek into our team emails
In order to adhere to one of OpenBB's core values - Transparency - we want you to understand the journey we have undergone and the reason we have dedicated the past 9 months to this endeavor.
So, for the first time, we're sharing a confidential email thread that circulated among our entire team. This thread provides insight into our thought process when it comes to handling large projects at OpenBB.
Over the next few weeks we will keep iterating on our Platform, based on user feedback, so we can keep pushing for a platform that can be adopted by everyone - from professional investors, data scientists, quants, to students.
If you rely on financial data to do financial research or build apps, we want to hear from you!
Reach out with feedback to support@openbb.finance or join our Discord.