Case Study - Reduction in company-research profile creation time by 70%.05 February 2021
Building a robust company research process requires fresh and reliable insights from massive sources, like financial reports, products, services, key hires, press releases, and the latest news articles.
Company researchers need a 360° view.
Our client, a Large Multinational Investment Banking company, ranked in the Fortune 500 list of largest US corporations by total revenue, creates company profiles to monitor 100s of companies in their portfolio.
Creating a new company profile, even those with limited data points required custom extraction techniques (scripts) and consolidation activities. This laborious process took 24 hours, for each company profile.
There are times that the data received through this process of company profile research was delivered late. As a result, by the time it was made available, it had lost its relevance due to the critical nature of the process.
The time spent manually extracting information meant lost investment opportunities.
Capturing hard-to-acquire alternative datasets was a dire need to gain a competitive edge. The issues, such as site-blocking and custom-scripts development, required constant maintenance.
More time was spent on bug-reporting and manual data collection than doing the actual research and analysis because of these challenges.
As a result, researchers missed critical insights that translated into missed profits and loss.
Script-based data gathering was fragile and often failed to handle the complex webpages. It limited the depth of research and supplied unreliable data.
Botminds, with its No-Code Competitive Monitoring Solution, created the possibility for our client to develop intelligent one-time website configuration with simple point and clicks. Once past the initial configuration, Botminds AI platform was set up to repeatedly extract the data points from the source.
With the Botminds AI platform, the client was set up to reach any hard-to-acquire web pages and extract data with human-like intelligence, without getting blocked.
Botminds captured data from websites with human-like navigation avoiding getting blocked. Capturing alternative data became hassle-free, and as a result, offered a substantial competitive advantage.
Botminds built a repeatable process for creating a singular company profile based on more than 250 data points spread across the web, as against 85 data points.
The new process takes only 8 hours as against 24 hours under the manual process, reducing the company-research profile creation time by 70%