Could you share a link showing exponential increase in the use of EDGAR?
Index - Q1 1994 - 3mb - https://www.sec.gov/Archives/edgar/full-index/1994/QTR1/form...
Index - Q1 2017 - 45mb - https://www.sec.gov/Archives/edgar/full-index/2017/QTR1/form...
[1] https://www.sec.gov/structureddata/what-is-structured-data
1994,3153191
1995,4813587
1996,7539137
1997,13755958
1998,16107028
1999,15935643
2000,17548021
2001,16873202
2002,18904001
2003,27723307
2004,47116841
2005,47982675
2006,50672891
2007,51322342
2008,49635521
2009,45312542
2010,45384720
2011,46455461
2012,46733150
2013,45842099
2014,47065954
2015,48112988
2016,46636963
2017,47037415The public filings themselves are also a nightmare of hard to follow formatting.
Disclosure: Last10K.com is a side project of mine
Edit: Worth mentioning here that EDGAR's ease of use makes sites like BamSEC simple to create. Probably EDGAR's time is best spent focusing on the institutional intermediary. That allows competition to iterate on the best UX/UI for browsing these filings without imposing the cost on the filers themselves as discussed above.
I like the bare-to-the-bones simplicity. In contrast to "better designed" portals of some other countries, I can usually point even the most technically-illiterate executive to the filing portal and expect to get something useful out the other end.
Disclaimer: I am not a lawyer. Please consult a securities lawyer before preparing and/or filing anything with the SEC.
2. Multiple open data formats, including TXT
3. Easy-to-follow organization (CIK), minimal indirection
4. No Javascript required, no gratuitous frameworks*
5. Bulk downloads of quarterly data (FTP up until 2016)
*not to mention gratuitous iframes (BamSEC)
Thanks to #5 anyone not satisified with the "UI/UX" can take the data and go build their own "UI".
When data is tied up in layer upon layer of indirection, Javascript, iframes, enormous overstuffed URLs, binary formats (e.g. PDF, XLS), then others cannot as easily take the data and build their own interfaces.
Not a good approach for public data nor good use of public expenditure, IMO.
I am grateful to Carl Malamud for creating EDGAR.
Btw, hackers accessing this info could possibly explain something I tweeted to them about 10 days ago: