Business intelligence (BI) and analytics are competitive necessities in today’s fast-moving, data-driven business world. In fact, more than half of organizations across industries are using BI in some capacity to drive important initiatives like new revenue streams and increased efficiency.
Although business intelligence is a powerful tool, most organizations do not implement it successfully or are lacking a centralized source to maximize its full potential. Organizations must understand the types of business intelligence and analytics solutions that exist and apply them in ways that add the highest strategic value. According to a survey conducted by Sisence, 92% of product decision makers say that data and analytics are critical to the success of their businesses.
AlphaSense, a leading artificial intelligence (AI)-based market intelligence platform, empowers major financial and corporate firms to conduct powerful market research with AI search technology, premium content sets, and critical insights to drive organizational growth.
Businesses require a centralized resource for business intelligence in order to stay ahead of the competition and perform agile decision-making. Below, we explore the importance of business intelligence and how professionals can leverage AlphaSense as an all-in-one resource for business intelligence.
Understanding Business Intelligence
Business intelligence is a set of processes and techniques for analyzing raw data and extracting information that helps drive business solutions. BI involves the use of technology tools that enable data-driven decision making and actionable insights to help companies improve performance and identify new opportunities.
It’s important to take note of the main differences between BI and analytics. Business intelligence aims to leverage past and current data to inform real-time decision making and strategies. Analytics, however, uses past data to explain current data and utilizes both past and current data to make predictions about what will happen in the future.
In other words, business intelligence involves looking at data to see what it’s saying and how to make decisions accordingly. While analytics explains why the data says what it says, and uses those deeper insights to forecast what’s likely to happen next. Both BI and analytics are critical to gleaning complete insights of any market, industry, or company.
Traditionally, legacy BI solutions were hands-on services provided by data professionals or consultants. However, BI solutions have since evolved with the integration of AI technology and natural language processing (NLP) to offer innovative ways in providing centralized business intelligence.
These technological innovations allow business to access large and complex datasets in an organized and digestible form that allows them to conduct faster primary research and develop better business strategies. For example, AlphaSense’s all-in-one market intelligence platform provides extensive financial and business data, powerful AI-search tools, and a structured library of proprietary expert transcripts.
Applications of Business Intelligence
In today’s market landscape, any company making decisions strictly from gut feelings or initial reactions are at risk of falling behind competitors leveraging modernized BI solutions.
Below are essential ways to leverage business intelligence and analytics in your organization:
- Identify Early Warning Signs – Data insights allow organizations to identify worrisome incidents earlier (such as a dip in sales or revenue, a drop in retention, or prospect fall-off at a specific point in the customer journey) and address them before they turn into larger issues by tracking and analyzing KPIs.
- Make Better Decisions – While factual data allows analysts to make more informed decisions by tracking and quantifying trends and historical numbers, soft data like first-hand operator perspectives provide nuanced insights into emerging trends, industry complexities, and company dynamics that enable businesses to make fully informed decisions.
- Conduct Comprehensive Research – BI tools allow companies to access and analyze bigger datasets to holistically view larger market and industry trends. These insights contribute to smarter competitive analyses and a better understanding of market position for more strategic planning and comprehensive due diligence.
Business intelligence also allows organizations to expand data insights beyond the C-suite and make them part of everyday business operations. When businesses leverage intelligence solutions at a full scale, C-suite decision-makers and employees alike can access insights and analytics to make better decisions, be more productive, and contribute more strategic value.
The Power of AlphaSense as Business Intelligence
Organizations can leverage the AlphaSense platform for powerful business intelligence by effortlessly navigating across an expansive universe of private, public, and premium content alongside proprietary Expert Insights.
Combined with powerful AI-technology and key perspectives, researchers can conduct comprehensive due diligence and business analytics to complement data-driven decisions with nuanced insights.
Expansive Content Universe
As an all-in-one platform, AlphaSense aggregates financial and business data such as broker research, company documents, news articles, and more from over 10,000 trusted sources.
Additionally, Expert Insights is a structured source of alternative data and firsthand operator perspectives that can be used as a critical tool for filling gaps in business strategies and complementing data-driven decisions with nuanced insights.
The varied content sets of AlphaSense are organized by four key perspectives:
- Company – Documents published by public and private companies, including SEC and company filings, earnings reports, presentations, transcripts, and ESG reports.
- Journalist – Content published in major news networks, trade journals, and government agencies and NGO publications on events, topics, and news.
- Analyst – Our Wall Street Insights® content library includes leading equity research from 1,000+ sell-side and independent firms, covering global industries, sector themes, and companies.
- Expert Insights – Our expert transcript library houses over 40,000 interviews conducted by experienced buy-side analysts with pre-vetted industry experts (former executives, customers, competitors, and partners). Additionally, our Expert Call Services offering allows you to quickly connect with industry experts for customized interviews to gain nuanced insights on any topic.
Each perspective brings with it, a unique view or vantage point on a particular subject, and by piecing together all of the four perspectives, businesses can capture a 360-degree view of any topic, industry, market, or company.
Powerful AI Technology
By leveraging AlphaSense’s 10+ years of investment in AI development through AI-driven research tools, users can instantly surface insights from tens of millions of data points. With cutting-edge AI technology, you can save time, get straight to the most relevant insights, and be better equipped to find and capitalize on alpha-generating opportunities before anyone else.
Researchers can save time on research with AlphaSense’s powerful AI-search capabilities as follows:
- Smart Summaries – Enables users to glean expert insights in an instant with generative AI (genAI) summaries that capture the gist of any expert call transcript found within the extensive AlphaSense library in seconds.
- Smart Synonyms™ – Empowers users to expand keyword and thematic searches to deliver the most relevant expert insights by including all synonyms, excluding irrelevant results, and canceling out the noise.
- Sentiment Analysis – Allows users to identify and quantify levels of emotion around specific topics within expert transcripts by using a boolean operator to search for mentions of a specific topic in a positive, negative, or neutral light.
- AI Assistant – Offers users to ask live questions and gain real-time answers with our AI-powered chatbot designed to summarize billions of data points to get you from question to answer, faster.
Our one stop solution for business intelligence means you never have to toggle between multiple disparate platforms while conducting your market research to gather both hard data and softer expert perspectives.
AlphaSense Enterprise Intelligence enables businesses to secure searches, summaries, and follow-up questions across their proprietary internal data and a vast repository of 300M+ premium external documents–all powered by our industry-leading AI for market intelligence.
Our Enterprise Intelligence allows you to:
- Search Everywhere, All at Once – Our best-in-class search technology saves time by delivering and summarizing the most relevant results across your proprietary internal content and hundreds of millions of premium external documents.
- Protect your Company’s Data – Enterprise Intelligence meets the highest industry standards–including SOC2, ISO270001 compliant, regular, accredited third-party penetration testing, FIPS 140-2 standard encryption on all content, and SAML 2.0 integration.
- Personalize and Collaborate – Establish a consistent market view with customizable dashboards and alerts, advanced highlighting and annotation capabilities, and a robust, collaborative notebook enabled via enterprise-ready sharing and permission management.
- Seamlessly Integrate – Easily upload and manage tens of millions of documents by uploading directly through our API, 3rd party connectors, or customer-managed solution in the cloud of your choice.
Over 1300 AlphaSense customers have integrated their proprietary internal content alongside our premium external market intelligence and leverage our industry-leading search, summarization, and monitoring tools to centralize their business intelligence.
Discover the Perfect Business Intelligence Solution
So how do you choose the right BI and analytics solutions for your business?
Organizations should always choose business intelligence and analytics solutions with their specific priorities and needs first in mind. With an array of options available, it’s important to consider your specific business needs, goals, and workflow when selecting a BI solution.
A full value business intelligence solution, like AlphaSense, will maximize your return on investment (ROI) by providing a variety of capabilities such as: powerful AI technology, varied content sets, financial data, expert perspectives, enterprise intelligence, and KPI monitoring.
Learn more about business intelligence options, like Expert Insights, in our buyer’s guide, Top Expert Network Companies to Support Your Business Goals.
Maximize your primary research with the full value of AlphaSense as your one-stop-shop for business intelligence. Start your free trial today.