by Cheryl Gustitus

Simply stated, push, or Webcasting technology as it is also known, automates the search and retrieval function. Based on user defined criteria, a push application will automatically search a database for specific information and deliver it when and where the user directs--usually straight to their desktop. This form of information delivery represents not only a convenient means of receiving important information the user may not otherwise know exists, but more importantly for information professionals, this evolving distribution technology is substantially changing the way in which users interact with information, particularly in the time-sensitive financial services arena.

Mining for Gold

Webcasting generally comes in two forms. The most rudimentary push applications include e-mail, listservs, and direct delivery services offered by large database and news vendors. The more sophisticated push applications, used increasingly at the institutional level or within the corporate enterprise environment, enable information professionals and end-users to create relational profiles and receive relevant information from multiple sources.

Ordinary Internet search engines regularly return an average of 100,000 hits per query, an overwhelming volume that makes the search for relevant information about as easy as finding a gold flake in a rushing Yukon stream. However, with push technology, researchers can fully customize data profiles and have relevant information delivered to the desktop at regular intervals or have the application running continuously in the background on a user's screen. In most cases, the act of searching need never occur. Once a user defines a profile--say, "I'd like to know when any U.S. pharmaceutical company files a proxy"--the broadcast program automatically notifies the user whenever new data emerges matching that profile. It's like getting a digital tap-on-the-shoulder.

How It Works

Push technology, due to its differing applications, uses of variety of methods to deliver information to the user. For retrieving information from the Internet, push technology scans several basic "channels," or content providers, which can include industry information, news, stock quote services, sports, and weather as sources for its customized desktop bulletins.

The Bank of Boston is one institution that has realized the benefits of pushing Web-based information to the firm's users. Using specialized software, based on the Internet Engineering Task Force's IP multicast protocols, Bank of Boston supplies its traders with critical financial information that is retrieved from the Internet and subsequently broadcast over their Intranet. The application enables Bank of Boston traders to receive crucial business information in real-time. In addition, the information is pushed from the server, then filtered, displaying on the desktop only the information the individual trader wants to see. This use of push saves precious bandwidth and is a testament to the value of push technology in the fast-paced, real-time securities trading environment.

Push has also emerged as an increasingly viable distribution application within the investment advisory discipline. A growing number of firms, particularly on the sell side are leveraging the ease and timeliness of electronic distribution as a cost-effective alternative to mailing or faxing research reports to clients.

An Intranet Application

Push technology can also streamline the delivery of targeted information to a variety of users from a corporate Intranet. Employees can receive up-to-the-minute company news and information directly on their screens. In addition, some push vendors provide a technical framework onto which user companies build their own channels to broadcast select information to employees and customers. A marketing director, for example, may receive news about industry trends and competitors, while the CFO may want to keep tabs on acquisition targets. The Human Resources department may use the Intranet to push benefit information out to employees in multiple offices.

In the case of Fruit of the Loom, the company uses PointCast's push technology in this manner. Prior to their implementation of push, Fruit of the Loom was dependent on paper-based documents to convey company information, which often resulted in employees either receiving outdated information or important employee bulletins being lost in the mail. To solve this problem, Fruit of the Loom implemented push technology, broadcasting pertinent company information and employee notices directly to desktops.

Now as quickly as information is released, anyone in the company can get things like earnings reports, company news headlines and other important information so they can stay connected to where we are doing well and where we need to make improvements," said Brain Ochs, Web master at Fruit of the Loom.

In another example, a northeast-based pension fund manager has developed an Intranet model for "casual" market data, while deferring more detailed research requests to the professionals in the information center.

Lastly, and most recently, push technology has been used to automatically update software. Both Microsoft and Netscape have partnered with Marimba, a leading push vendor, in an attempt to set a standard for delivering software updates over the Internet.

Corel, a software developer, uses Marimba's Castanet to distribute and update Corel Office for Java. According to Dr. Michael Cowpland, Corel's president and chief executive officer, the benefits of Castanet are tangible. "The Castanet mechanism for software distribution is the premier vehicle for distributing this product suite and allows application updates to be integrated on the fly through each user's running channel."

Who Pushes?

PointCast

PointCast (www.pointcast.com) was the first free news network to deliver current event news and information directly to a viewer's computer screen via the Internet. PointCast delivers information to PCs via a dynamic, interactive billboard screen saver application. PointCast partners with content providers such as CNN, Wired, and the New York Times in order to supply their users with a broad scope of current information. Boasting 30 to 50 million viewer hours a month, PointCast provides a rich environment for online advertisers.

Marimba

Marimba (www.marimba.com) is as famous for its implementation of Java, a programming language developed by Sun Microsystems, as it is for its own products. Marimba's Castanet offering, designed to be used in conjunction with a Web browser, automatically distributes and maintains software applications and content within a company or across the Internet. As discussed above, Marimba is currently working with both Netscape and Microsoft to use push technology to automatically update software applications without having to go through the lengthy download process.

BackWeb

BackWeb's (www.backweb.com) technology enables institutional clients to create their own internal Webcast channels to direct customized content, referred to as InfoPaks, to specific users. BackWeb uses its Polite Agent technology to optimize the availability of a user's Internet connection.

Microsoft

With its launch of Internet Explorer 4.0, Microsoft (www.microsoft.com) will incorporate Webcasting capabilities that enable a user to download any channel onto their computer by "subscribing" to it. Microsoft creates an active desktop by enabling the PC to download sites when it is most convenient and hold them for the user to access when desired. Microsoft's software will also notify the user when the Web site has changed. The content can then be delivered as a full screen, screen saver, desktop item or into the user's mailbox.

Netscape

Like Microsoft, Netscape (www.netscape. com) has also integrated push technology into its communications suite. Netscape recently launched Netcaster, part of a larger product called Constellation, which operates in a similar fashion to BackWeb. With Netcaster, individual companies can create channels that are then accessed from the product's opening screen, and which include business and consumer content.

inCommon

While not one of the big names, inCommon has developed a product called Downtown that delivers updated information to users from any WWW site. Downtown

resides on the desktop as a "channel bar" that strongly resembles a Windows toolbar. The advantage of Downtown is that it allows for quick download and off-line viewing of Web content. In addition, inCommon complements the browser rather than competing with it.

While the six companies listed are considered the leaders in the overall push market, certain industries call for sophisticated custom adaptations of push. For example, users on Wall Street benefit by having real-time information pushed to them seconds before their competition. Industrial strength information providers like Disclosure, Desktop Data and I/B/E/S Trapeze offer a variety of push information services to both intermediaries and end users in the financial industry. From real-time filings alerts to news headlines and real-time brokerage reports, these providers understand that both time and accuracy are of paramount importance to the financial community.

In the real-time trading world, the time savings created by push can mean the difference between a substantial monetary gain and a precipitous loss.

Push Value Add

That's the good news. The bad news is that unless it is handled properly, push technology, like a gushing hydrant, can pump a lot of unwanted information at the user. The key is to maintain tight specificity in user profiles. With a well-defined profile, a researcher can be the beneficiary of usable data. Developing a vague or broad request can flood the user with irrelevant information.

Another point to consider when investigating Webcasting is bandwidth. Push technology can occupy tremendous amounts of space, clog networks, and impede the flow of data to and from users. Before integrating push technology into an organization's network, it's important to determine whether the bandwidth can handle the additional data traffic. This is where special librarians can work closely with the technical staff to create the best solution for their organization.

Taking the Search Out of Research

In the future, the types of software developed around push technology and the number of relevant applications are expected to grow exponentially. In particular, this will occur in the areas of technology and financial information, where the value of the data is determined by its relevance and timeliness. The key to the successful use of these innovations will be selecting the right technology and effectively integrating it with content. Handled properly, push can become one of the information professional's most valuable tools.     $

Cheryl Gustitus is vice president of Marketing and Corporate Communications at Disclosure Incorporated, a unit of Primark Corporation, located in Bethesda, MD. She may be reached via e-mail at: cheryl.gustitus@disclosure.com.