With the interest in big data exploding in recent years, firms remain determined to move to scalable and agile technology to facilitate growth. A number of technology vendors have joined the race to solve big data challenges, building the case for Inside Market Data and Inside Reference Data to introduce the Best Big Data Analytics & Technology Provider category at this year’s awards. AlphaSense clinched the first win after judges praised the company for its big data capabilities.
The space is served by many large vendors targeting different industries, but technology startup AlphaSense is focused purely on building offerings for financial services clients, empowering professionals with the ability to better analyze textual data and act with greater insight. Judges praised AlphaSense for its search technology, which stands out in the marketplace and is designed to help professionals save time and find information fast.
AlphaSense ingests millions of research documents, including company filings and transcripts, presentations, real-time news, press releases and Wall Street investment research, as well as clients’ internal content. It then semantically indexes documents sentence by sentence and produces instant search results for users on any given theme, summarizing relevant snippets across documents. To do this type of work manually would take hours, and with the vast amount of data available to investment professionals in today’s market it can be impossible to digest everything without the help of big-data analytics technology.
It is perhaps no wonder AlphaSense has already signed 450 clients, who are using these search capabilities to improve performance and stay ahead of the competition. With the demand for cutting-edge search technology in mind, judges concluded AlphaSense has an “interesting offering” for a new generation of big-data analysis.
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