Evolution of Information Systems Starting from Bloomberg and Dow Jones

Abstract

This article aims to give an overview and describe a new structure in the media system, namely, closed information systems (CIS). These include various data bases used for performing professional tasks in relation to media and information in business and public administration. CISs may be categorized as new media and hypermedia. Since CISs can aggregate information and media messages, they work simultaneously in both media and information markets. The key task of the study is to analyze the history and prerequisites of CIS emergence, starting from the first one, that of news agency Reuters. We made a systemic analysis of the content terminal Bloomberg of Bloomberg news agency, and the multimedia library Factiva of Dow Jones, which helped to identify their key typological features and target audience. One of their functions is being a blueprint of a professional eco-system. Other information systems with similar functions are studied and analyzed, namely, LexisNexis, a multimedia library of legal papers and mass media archives, and a business directory Dun&Bradstreet, as well as their functions, content, and professional utilization. The article also describes the work of data base publishers and brokers in the market. The author contrasts professional information systems called CIS with the open-access system Internet by their common functions, and points out some key differences in selecting, classifying and verifying content.