AlphaSense is a market intelligence platform used by companies and financial institutions. Since 2011, their AI-based technology has helped professionals make business decisions by delivering insights from public and private content—including company filings, event transcripts, news, trade journals, and equity research. The platform boasts users among 4,000 enterprise customers. Headquartered in New York City, AlphaSense employs over 1,000 people across offices in the U.S., U.K., Finland, and…
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IBM Watson Explorer
Score 8.4 out of 10
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IBM Watson Explorer supports enterprise search with unstructured data analysis, machine learning, and content analysis to improve decision-making, support customer service or serve other business needs.
AlphaSense is best for colleagues who need to dive into details and collect info on various topics (e.g. analysts). Most colleagues do not have time to search on the platform and cannot exploit the capabilities of AlphaSense. We are now in a "trial mode" for the first subscription year to see in real life how the selected users use their premium accounts, then we will decide on the extension of the number of accounts.
The Watson Explorer is great because it potentially replaces a meriad of other low-level analytics products that we would need to use for data analytics and data mining. WEX isn't really suitable much beyond doing text and data analytics and performing machine learning, so if your team doesn't really have a use-case that fits all of these categories, it is worth looking at an alternative.
Free to try - It's possible to use most of the useful features of Watson Explore on their trial/demo accounts.
Super well-designed data analytics tool - Most of the tools and features of the explorer are really useful, and truly help you fully understand the depth of any format of textual data.
Extensive sources compatibility - WEX can retrieve data from a large range of sources, and the compatibility there is quite good as well.
Support is just OK, like most of the other IBM Watson products. The setup/integration is really hands-on, but it's also problematic because support later may take a considerable amount of time.
UI could still use a little more improvement - part of the administration and sources dashboards are hard to navigate.
The Application Builder is a great part of the product, but hard to learn/understand - this is where we needed the most support from IBM and tutorials/documentation.
AlphaSense is a very useful tool and is reasonably priced for our organization. While I may not be a hyper-active user, it's a great resource when I need to quickly do a competitive landscape survey, review publicly available documents (transcripts, etc.), or review Wall Street research
The search capabilities of AlphaSense are quite impressive. As a former Search Product Manager, I see where the boolean capabilities of AlphaSense's search allow me to control the scope, proximity, and keywords of the search. The addition of AI to the search keywords facilitates my booleans - frankly I don't have to use a boolean for additional keywords. That's quite helpful. The addition of AI (still in beta) to the search is helping those who don't want to get into the weeds
The availability of Alphasense is great. I have used the software for multiple years and cannot remember ever having an outage issue. This is surprising actually, as I use other software applications that do not have regular outages, but still have outages periodically. Alphasense, on the other hand, never seems to have any outages. Good sign if I can't remember the software not working :).
Loading or performing searches on AlphaSense platform is reasonably fast for most of the time. However, it is sometimes unacceptably long for me to load PDF files (earnings presentation, supplementary financial report) on AlphaSense. Certain features might also take very long time, such as loading for "similar tables" across EDGAR filings, or downloading tables from EDGAR filings
Customer support is very prompt. I get personalized support for search recommendations and content that I could not find in my own search. Support checks in with me on a bi-monthly basis to keep me informed of the many different feature additions, I cannot find a more kind, understanding, and supportive team.
The person was prepared, attentive, understood the nature of my questions, was willing to work through any difficulties or misunderstandings, was patient, and super pleasant to work with. Great customer service.
Our online training was led by a AlphaSense representative. The training is always good. The bigger issue is our time availability to remember the training and utilize it. The trainers will show us examples and then ask us for real industries or companies of interest to use so that the training is most relevant.
Nothing else had the platform capabilities nor the level of access to information that AlphaSense does. Everything else I tried had one area or type of information it aggregated, but none of them were able to integrate information the way AlphaSense does, and most of them didn't really enable access to news, so I had to supplement my work with RSS feeds and dozens of open browser tabs. AlphaSense collapsed all of that effort into one search in one window.
Google Cloud offers a Natural Language product, but it is just an API. This API doesn't offer the useful visualizations of relations, analytics, and graphs that IBM Watson Explorer offers on their interface. For this reason, we chose to go with IBM WEX. For later stages of our production, we decided to use Google's NLP API because we found that it was quick to integrate into production after studying data and developing models using IBM WEX.
It has been very simple. Contract terms are standard for an online portal. Of course, I would like unit pricing to be lower so I could get more users on the license or to rotate seats to get more value out of each license. Billing frequency has been standard as well. This could be more significant for a larger customer.
The sharing features provides by AlphaSense mean that it can be readily scaled for teams within an organization and, subject to compliance requirements, with client organizations. The ability to share annotations of transcripts and investor releases is valuable, and facilitates collaboration between analysts.
AlphaSense has allowed us to generate deeper competitive insights. For example, we conducted an in depth analysis of the aerial data analytics (drone) industry, and AlphSense helped us narrow in on the market leaders and their various strengths / weaknesses.
AlphaSense has improved our team's overall efficiency. With Stream in particular, we are able to pinpoint insights in a matter of minutes through the transcript feature as opposed to having to conduct a series of calls ourselves. This is a significant time saver.
AlphaSense has allowed us to make more informed decisions on our public holdings by providing us with unfettered access to equity research analyst reports.
Positive - Trial/demo period. This was really useful for us to figure out what features of WEX we liked most and how difficult it would be to integrate WEX into our workflow.
Negative - On-boarding was long and almost always requires support from IBM support, unlike most other products this advanced.
Positive - WEX replaced a large selection of alternative products we would have to use for the same functionality, and having all of that function in one place was definitely helpful.
