The CFA Institute has published The Cost of Structured Data: Myth vs. Reality highlighting that the potential benefits of using structured data have not been realised yet.
The authors argued that companies mostly see structured data and reporting as a cost burden, even though it can potentially improve the way financial information can be consumed by investors, regulators, and other users.
The study looked at the costs associated with the companies XBRL filings as well as going through several case studies to demonstrate the benefits of implementation. The report concluded that if companies bring structured reporting in-house rather than outside vendors, and implement inline XBRL so data is human and machine readable, then they can reduce the costs.
The study can be found here.
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