We are often asked to quantify the value of using Coseer. We always reply that the true value of Coseer is in getting better answers that lead to top line growth or strategic impact for our customers. Particularly in case of financial services, using Coseer leads to greater depth in research and better investment decisions.

However, being the tech geeks that we are, we also started playing with numbers for Financial Services. We surveyed a few of our customers, relied on our own experience and scourged the web to find out how much time our users spend on research. Needless to say we used our engine to spot such responses. We also asked around for basic stuff like number of hours spent and team structure.

Coseer adds incredible value by summarizing and organizing information from across unprecedented breadth of sources. However that is difficult to quantify. So while acknowledging that we are embracing the McNamara Fallacy in some way, we restricted this analysis to only deduplication. We also assumed that compared to reading a document for the first time, it takes our users only a tenth of the time to read a partly duplicated document. In reality it is much higher because relevant data is always scattered through documents.

We found that:

• Coseer typically shows 1 document per 127 documents collected on the topic. For paragraphs, this increases to 1:266 and to even higher for sentences. This is so because not all paragraphs in a document and not all sentences in a paragraph make it. To be fair, if the user is willing to compromise on breadth of results then these ratios need to be offset by a factor. Such users go to only 2-3 major sources, while Coseer reaches out to between 20 and 30 comprehensive sources and innumerable minor ones.
• A typical team with one Portfolio Manager/ Partner, three Associates and three Analysts, splits their time more or less equally between Research, Meetings and other activities like Writing Memos, Tracking Market Data and News and Modelling. Coseer punches through the time spent on Research. This varies from an Analyst who spends four of a 10 hour work day on Research to a PM who spends six to seven of a 15 hour work day on Research.
• Putting everything together, Coseer can save between two hours and two hours fifty minutes every day for our users. Yet again, the real value is that our users are 25% more productive and far better at their investment decisions.

This analysis will probably not stand rigor of a statistician, but does give us an indication of the value Coseer brings to our users. We continue to innovate on our algorithms and think of new, exciting features. To stay updated please follow us on social media.