R Tutorial: Introduction to Quandl

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Now that you've learned the basics of getSymbols(), I'd like to introduce you to another method to import data into your R session. Quandl is a data service that provides access to many financial and economic data sets from various providers. Many data sets can be accessed for free, but some require paid subscription.

Quandl provides an application programming interface, or API, that allows you to import data from a wide variety of languages, including Excel, Ruby, Python, and of course, R. The R package is also called Quandl, and it contains a function that you will learn to use to import data from Quandl databases. The function's name is, you guessed it, Quandl.

Let's compare the Quandl() function with getSymbols(). Both functions provide access to multiple data sources. While getSymbols() can create an object for you, the Quandl() function always returns the data it imports, so you need to assign the data to an object. And recall that with getSymbols(), you use the Symbols and src arguments to specify the instrument and data source. With Quandl(), the instrument and data source are specified by a single argument named code. Note that the data source is first, then a forward slash, and then the instrument.

Like getSymbols(), the Quandl() function can import the data into several different classes of objects, including a data.frame, an xts or zoo object, a ts object (from the stats package), or a timeSeries object from the timeSeries package in the RMetrics suite. You can control the class of the object it returns by changing the type argument. Another difference between getSymbols() and Quandl() is that getSymbols() returns an xts object by default, while the Quandl() function returns a data.frame by default.

Now it's your turn to practice using the Quandl function.

FIXME: Consider spending some time explaining how to search for Quandl databases and codes in this video, the next video, or not at all?

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