Wolfram Finance Platform's Design Principles
Twenty years of building on bold design principles make Mathematica one of the world's ultimate computation platform, and these design principles allow for the continuous development of financial capabilities.
Here you can read about Mathematica's design principles concerning the Wolfram Finance Platform. A general overview of Mathematica's design principals can be found here.
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Automation
Automation is the key to productive computing. Unlike other systems, Wolfram Finance Platform applies intelligent automation in every part of the system, from algorithm selection to plot layout and user interface design.You get reliable, high-quality results without needing algorithm expertise—and even if you're an expert, you get results faster.
Details of Automation in Wolfram Finance Platform
| Automation in Finance | Advantages | In Other Systems ... |
|---|---|---|
| Derivative valuation methods | Optimized option estimation | Requires knowledge of option pricing models |
| Immediate visualization | OHLCV automatically determined | Requires manual specification |
| Fitting distributions to data | Method optimized to data structure | Requires prior analysis of data |
| Importing historical data | Automatic data format detection | Manual specification of data structure |
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Integrated All-in-One Platform
Specialized software and add-on toolboxes discourage the creative exploration of new ideas and areas—an even greater cost than their purchase price. Wolfram Finance Platform requires no add-ons. It has built-in specialized functionality for many finance areas, from derivatives pricing to optimization, trading charts to statistical tests, all tightly integrated with the rest of the system. Non-computational tasks are equally integrated—from interactive report generation to system integration, all the tools you need are in a single integrated platform.
Details on All-in-One Platform of Wolfram Finance Platform
| Integrated All-in-One Platform | In other Systems ... |
|---|---|
| Embed live computation and data in documents and reports | Documents with limited usage |
| Immediately deploy tools or reports to the web and desktop | Extra cost and interrupted workflow |
| Comprehensive statistics and optimization functionality | Limited capabilities |
| Link to Bloomberg subscriptions to bring in data for accurate analysis | Static reports |
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Hybrid Symbolic-Numeric Methodology
Symbolic and numerical computation are traditionally thought of as separate, to the detriment of users. In Wolfram Finance Platform, they are seamlessly integrated, enabling unique hybrid methods for many problems and ensuring consistent results whenever quantities of any precision are combined.
Details on Hybrid Symbolic-Numeric Methodology of Wolfram Finance Platform
| Hybrid Symbolic-Numeric Methodology in Finance | In other systems ... |
|---|---|
| Symbolic financial evaluation for exact results | Lose accuracy by approximations only |
| Exact optimization solutions | Limited range of optimization technique |
| Direct use of extensible mathematical models | Re-use only specific calculated values |
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Multiparadigmn Language
Wolfram Finance Platform's Mathematica stands out from traditional computer languages by simultaneously supporting many programming paradigms, such as procedural, functional, rule-based, pattern-based, object-oriented, and more.
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Built-in Knowledge
Searching and updating standard datasets shouldn't interrupt your workflow. Wolfram Finance Platform is unique among computation environments because it includes Wolfram|Alpha's vast collection of carefully curated data of all kinds, continuously updated and expanded. Financial databases include market prices and market fundamentals that are essential for constructing financial and economic models. For real-time trading, Wolfram Finance Platform can also access your Bloomberg data feed.
Details on Built-in Knowledge of Wolfram Finance Platform
| Built-in Knowledge | In other systems ... |
|---|---|
| Extensive, computation-ready financial data built in | Requires expensive add-ons |
| Comprehensive, up-to-date economic data | Requires manual curation and import |
| Relevant geographic data for trend analysis | Data is divided among many sources |
| Trillions of pieces of continuously updated data from Wolfram|Alpha | - |
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Document-Based Workflow
You shouldn't need one program to process your financial and economic data, another to visualize it, and a third to interactively present it. Wolfram Finance Platform does everything in a single workflow, keeping all elements of a project—calculations, visualizations, data, documentation, and even interactive applications—together, in uniquely flexible documents. Computable Document Format (CDF) files consolidate your calculations, interactive visualizations, and data and text and create high-quality reports or presentation documents. The Enterprise CDF files which are available with active Premier Service offer advanced features like data im- and export, arbitrary input fields and file storage.