[jatinshah]

The main use case highlighted here seems to be retrieving quantitative data from financial reports and then doing sophisticated analysis (trendlines, forecasting etc) using ChatGPT (basically what’s currently done in Excel).

I doubt any finance professional would want to move from Excel to ChatGPT for these use cases.

A secondary issue is that numbers in financial reports need to be standardized before they can be used for analysis - say comparing ROE of a stock with industry average. That’s not possible with numbers from raw reports.

[nnechm]

I don't think excel can be defeated :) I certainly do not expect financial professionals to switch to a chat interface.

When you login into capitaliq or factset or look at a bloomberg screen, you access data, you can then do the same here. Excel plugins go on top which can then get this data into excel to build models. The api that powers this app, can also send data into excel for instance.

Data can be copied already directly from the chat box into excel, maintaining the table format for e.g

Regarding standardization, I think data was standardized not to enable comparison but simply to fit into the same schema for every industry. Most companies within the same industry report the same way. REITs do not report like SaaS, but the existing datasets put it all into one set. Raw data from source is always better as you can convert it to standardized but you can't go back...

[jatinshah]

If this product is not meant for finance professionals then who is the target customer?

Retrieving numbers via ChatGPT and then feeding it into Excel via APIs seems like a very odd thing to do. Especially when most of these numbers are already available on Yahoo finance for individual investors and CapitalIQ for professionals.

[nnechm]

:) I guess its not very odd to say investment research is a lot of reading and LLMs are already very good at reading. So there is little doubt that LLMs will change the investment research process. Have you used CapitalIQ, do you use it on the browser or in excel. If you use it on the browser, the experience using beatandraise.com is already better for some cases. For instance, try getting Apple's Rest of Asia Pacific revenues which apple has been highlighting is their main growth region this year, you can pull that out easily. https://imgur.com/a/rRnrB4u Can you do that on capitaliq, you would have to hope their standardized tables include this...