Visualizing Financial Data with Eikon Data API and Power BI
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In the fast-paced financial world, having real-time data at your fingertips is crucial. This is where the integration of Microsoft Power BI and the Eikon Data API comes in. By combining these two powerful tools, you can visualize financial data with ease, helping you make informed, data-driven decisions.
Tools We’re using
- Eikon Data API — Python: A user-friendly part of the Eikon suite, this API allows Eikon end users to access their data flexibly. All you need to get started is Eikon and simply follow the Quick Start instructions, with your Eikon Desktop Version 4.0.36 or higher.
- Microsoft Power BI: A tool known for its intuitive data visualization capabilities, Power BI connects to different data sources, transforms data into digestible formats, and creates visualizations. Ideal for business analysts, data enthusiasts, and individual traders, Power BI makes data exploration and pattern-spotting straightforward and accessible.
Prerequisites
Ensure you have Refinitiv Eikon or Refinitiv Workspace application with access to Eikon Data APIs, a Python environment with the Eikon Python library, Microsoft Power BI Application, and an internet connection. You can get access to Refinitiv Workspace/Eikon credentials via your Refinitiv account representative. You can generate/manage the AppKey by following the steps on the Eikon Data API Quick Start page.
Retrieving Financial Data with Python
First, retrieve the data from Eikon Data API with Python, ensuring the code works fine before implementing it in the Power BI application. We will generate two pages of Power BI from two dataframes.
The first page focuses on ESG score data, while the second page emphasizes Yield data. The Python scripts retrieve the relevant data and are placed into the Power BI.
Visualizing Data in Power BI
Now that we’ve gathered our data, we can use Power BI to visualize it. With the Python script in place, Power BI can gather the data and load it into the application.
From here, we create various visualizations. For the first page, we use pie charts, clustered column charts, and tables to showcase the ESG score data. For the second page, we apply the same techniques to represent the Yield data, using pie charts, tables, and histogram charts.
Conclusion
Power BI and Eikon Data API provide a potent combination for visualizing and understanding financial data. By harnessing the capabilities of these tools, individual traders can derive valuable insights, helping to inform investment decisions and succeed in the dynamic financial world.
