FactSet Research Systems provides financial data, analytics and software used by investment professionals, including portfolio managers, analysts and investment bankers, to research securities and manage investment portfolios. Its platform aggregates financial data from many sources into a single integrated system that investment professionals use daily for research, portfolio analysis and client reporting, becoming deeply embedded in the daily workflows of the investment management firms that subscribe to it. FactSet competes with other financial data and analytics providers for the attention and budgets of investment firms, an industry where switching data and analytics providers can be disruptive given how deeply integrated these platforms become in daily investment workflows. The company's revenue is subscription-based, tied to the number of user licenses and the scope of data and analytics services that investment firms purchase, giving it a fairly predictable, recurring revenue model tied to overall investment industry headcount and spending on research tools.