Company earnings calls have long been a critical source of information for investors. Since the early 2000s, FactSet has been an industry leader in collecting and transcribing company events across the globe. FactSet's Document Distributor - Events Audio API provides clients with direct access to FactSet's transcription service, which covers company earnings calls, presentations, special situations, sales calls, analyst/investor meetings, and guidance calls.
This product encompasses 500,000+ corporate events for 10,000+ companies globally, totaling over 7 terabytes (7,000 gigabytes) in audio MP3 files.
Asset Class: Public Companies
Data Frequency: Event-driven
Delivery Frequency: Intraday
History: Audio available back to 2004 with significant coverage starting in 2007
Each audio file provided via FactSet's Document Distributor - Events Audio API is tagged with valuable metadata to streamline processing and analysis. Key fields include call duration, offset start and end time, publication date-time, ticker, and the FactSet Entity ID.
Over the past decade, advances in natural language processing (NLP) techniques have generated methods for investors to mine, incorporate, and derive new insights from company conferences calls that can supplement or potentially replace traditional factors. Access to the audio of these calls unlocks new dimensions that are difficult to quantify from the transcript alone. Audio analysis techniques allow investors to determine emotion, pitch, tone, speed, and vocal cues to more accurately how topics were conveyed and the mood between and across participants.
NLP Model Training
The inputs and connections required to generate these insights are identical to those for NLP analysis. Investors need informative metadata that supports time series analysis to facilitate the training of models and profiling of individuals.
For example, to determine if a CEO reaction was out of character, or the pause before a reply was too long, one must first establish a baseline to measure these occurrences. FactSet's Document Distributor - XML Transcript product facilitates this level of analysis and provides metadata by tagging each call’s company and participants with a FactSet permanent identifier.
Simplified Transcription Analysis
For firms that currently manage a transcription process, the Events Audio API can help streamline the process by offering a consolidated pipeline of company event recording. FactSet ensures quality and completeness through a robust collection effort that provides the highest quality version is made available.
The details provided above are as of June 2020.
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