Intrinio's Standardized of Fundamental 10K/10Q Data with AI & ML

By Intrinio
March 7, 2024

Unleashing the Potential of Machine Learning and AI: Intrinio's Systematic Standardization of Fundamental 10K and 10Q Data

In the dynamic world of finance, access to accurate and standardized data is crucial for making informed decisions. Institutions ranging from incumbent banks, to hedge funds, to corporates, retail investors, app developers, consultants, VC funds & more need access to this type of data as part of their normal course of business. Some may argue that this type of data is commoditized, but it’s a mission-critical resource and it’s only sold by a handful of players - most of whom leverage a decades-old manual approach to building the data set.

At Intrinio, we understand the pivotal role of reliable financial data and are committed to revolutionizing its collection, processing, and delivery. Our cutting-edge Machine Learning (ML) and Artificial Intelligence (AI) technology systematically standardizes fundamental 10K and 10Q data, empowering investors, analysts, and businesses with unparalleled insights into the financial markets.

An In-depth Look at Intrinio

Intrinio stands at the forefront of financial data innovation, offering a comprehensive suite of products and services tailored to meet the diverse needs of market participants. Our mission is clear: to use data to power a new generation of fintech innovation.

From real-time market data feeds to historical pricing data, financial statements, and advanced analytics tools, Intrinio provides a seamless solution for accessing critical information required to navigate the complexities of the financial markets.

Our data products cover equities, options, ETFs, mutual funds & more, and they are all supported by a state-of-the-art developer toolchain including documentation, SDKs, tutorials, code samples, institutional-grade support & technical onboarding.

Customers ranging from early-stage fintech startups to quant shops, corporates, asset managers and more leverage Intrinio’s platform to efficiently, affordably, and reliably access critical US Fundamental Data via our API.

Dive Into Our Fundamental Data Product

Central to our offerings is our US Fundamentals Data product, a treasure trove of insights into the financial health and performance of publicly traded companies. This robust dataset encompasses a wide array of fundamental metrics extracted from companies' quarterly and annual reports filed with the Securities and Exchange Commission (SEC). From income statements and balance sheets to cash flow statements and more, our Fundamental Data product provides a comprehensive view of companies' financial performance. It includes as-reported and standardized financial statement line items, hundreds of metrics and ratios, sector & industry data, economic data, institutional holdings, insider transactions, and qualitative information like basic company info and a text-search API.

Unlocking the Power of Our Standardizer Intellectual Property

At the core of Intrinio's data standardization process lies our proprietary Standardizer Intellectual Property (IP). Leveraging sophisticated ML and AI algorithms, our Standardizer systematically processes raw financial data, identifies inconsistencies or discrepancies, and standardizes it into a uniform format that is easily digestible and actionable. This makes it easy to compare fundamental data across different companies and time periods, which is impossible in the data’s raw format directly from the SEC.

A Contrast to Manual Standardization by Traditional Financial Data Vendors

In contrast to the manual standardization methods employed by traditional financial data vendors, Intrinio's approach harnesses the power of automation to streamline the standardization process. Traditional data vendors often rely on manual intervention by teams of data analysts, leading to inefficiencies, delays, and a heightened risk of errors (contrary to popular belief, large brand name vendors have lower quality data). In contrast, Intrinio's ML and AI-driven approach offers unparalleled speed, accuracy, and scalability.

Unveiling the Historical Practice of Manual Standardization

The historical reliance on manual standardization stems from the limitations of available technology. Traditional data vendors have traditionally depended on human judgment and expertise to interpret complex financial disclosures, reconcile discrepancies, and ensure data accuracy. While effective to some extent, manual standardization is labor-intensive, time-consuming, and prone to human error. Many traditional vendors developed massive processes and technological systems prior to the advancement of technologies like XBRL, ML, AI, and neural networks. The innovator’s dilemma has rendered innovation in this space economically infeasible for such large businesses.

Embracing the Benefits of Our ML and AI Approach

Intrinio's ML and AI-powered standardization approach offers a myriad of benefits:

1. Speed and Efficiency:

Our ML and AI algorithms can process vast quantities of data rapidly, significantly reducing the time required for standardization compared to manual methods. With the help of zero humans, our technology standardizes every newly filed 10k and 10q within seconds, and the data is made available to our end users within minutes. It’s worth noting that this lower-cost structure to building the data set leads to cost savings for Intrinio and cost savings for our clients.

2. Accuracy and Consistency:

By leveraging automation, we minimize the risk of human error and ensure a high level of accuracy and consistency in the standardized data. A symphony of machine learning and AI models is able to run scenarios across the data set and accurately categorize data faster than any large team of humans ever could. This functionality makes the system much smarter and more accurate than any other provider.

3. Scalability:

ML and AI technology allow us to scale our standardization efforts efficiently, accommodating the growing demand for standardized financial data without compromising quality. For example, if an error in our processing is discovered we can systematically fix the entire data set in minutes. If a customer would prefer to see a fundamental data point standardized differently, our system enables mass transformation of the data programmatically, and quickly. As we leverage this technology to expand our data set, there is a brief “training period” in which data is collected more carefully and slowly, but as our AI models learn from a new data set they scale with incredibly power and speed.

4. Continuous Improvement:

Our ML and AI models are continuously refined and optimized based on feedback and real-world data, ensuring ongoing improvements in data quality and reliability. We’re able to send feedback into the system programmatically and have therefore seen a 760% reduction in human intervention with our data sets since 2020.  

Identifying the Beneficiaries of Our Standardized Data

Intrinio's standardized fundamental data caters to a diverse audience, including:

  • Investors: Seeking to make informed investment decisions based on accurate and standardized financial metrics.
  • Analysts: Conducting in-depth financial analysis and research to identify investment opportunities and assess company performance.
  • Financial Institutions: Utilizing standardized data for risk management, regulatory compliance, and portfolio management.
  • Businesses: Incorporating standardized financial data into financial modeling, forecasting, and strategic decision-making processes.
  • Fintech companies: Displaying financial data for end users or analyzing it within investment models in the backend.

Taking the First Step: Getting Started with Intrinio

Embarking on your journey with Intrinio's standardized fundamental data is seamless:

  • Explore Our Data: Visit our website to explore our comprehensive suite of financial data products and services, including our US Fundamentals data set.
  • Request a Consultation: Contact our data team to schedule a personalized call to gain insights into how our data can benefit your organization and to get on a free trial.
  • Ask a question: If you are interested in learning more about our AI standardizer technology, email to get connected with our leadership and partnership team.

At Intrinio, we're committed to empowering our clients with the tools and insights they need to thrive in today's dynamic financial landscape. By harnessing the power of ML and AI, we're revolutionizing how financial data is standardized, setting new standards for accuracy, efficiency, and innovation. Join us on this transformative journey and unlock the potential of standardized fundamental data with Intrinio.

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