Retrieval Augmented Generation For Earnings Calls
Earnings calls, also known as earnings conferences or earnings reports, are a crucial part of a public company’s communication with its investors and stakeholders. These calls are typically held after the release of a company’s financial results and provide a platform for executives to discuss the company’s performance, future plans, and address any questions from investors.
As a researcher, marketer, or organization, analyzing earnings calls can provide valuable insights and benefits. In this blog post, we will explore the concept of Retrieval Augmented Generation (RAG) and its application in earnings call analysis.
What is Retrieval Augmented Generation?
Retrieval Augmented Generation (RAG) is a cutting-edge natural language processing (NLP) technique that combines the strengths of both traditional information retrieval and generative models. It involves using a large pre-trained language model to retrieve relevant information from a large corpus of data and generate a summary or answer based on that information. This approach has been gaining popularity in the NLP community for its ability to generate more human-like and coherent text.
The Benefits of Earnings Call Analysis
Earnings calls are a goldmine of information for researchers, marketers, and organizations. Here are some of the benefits of analyzing earnings calls:
1. In-depth Understanding of Company Performance
Earnings calls provide a comprehensive overview of a company’s financial results, including revenue, expenses, and earnings. By analyzing these calls, researchers can gain a deeper understanding of a company’s financial performance and identify any patterns or trends that may impact its future.
2. Market Insights
Earnings calls also offer insights into the larger market and industry trends. By analyzing multiple earnings calls from different companies in the same industry, researchers can identify common themes, challenges, and opportunities that may affect the market as a whole.
3. Competitive Analysis
For marketers and organizations, earnings calls can provide valuable information about their competitors. By analyzing the calls of their competitors, they can gain insights into their strategies, future plans, and overall performance. This information can be used to inform their own marketing and business strategies.
4. Investor Relations
Earnings calls are an essential tool for maintaining good investor relations. By analyzing past earnings calls, organizations can identify the questions and concerns raised by investors and address them in future calls. This can help build trust and credibility with investors and stakeholders.
How Retrieval Augmented Generation Can Enhance Earnings Call Analysis
Traditionally, earnings call analysis has been a time-consuming and labor-intensive task. However, with the advent of NLP techniques like Retrieval Augmented Generation, this process can be significantly enhanced and streamlined.
RAG can be used to generate a summary of an earnings call or answer specific questions related to the call. This can save researchers and analysts a significant amount of time and effort, allowing them to focus on higher-level analysis and insights.
Moreover, RAG can also improve the quality of the analysis by providing more human-like and coherent summaries and answers. This can help researchers and analysts to better understand the information presented in the call and identify any nuances or subtleties that may impact their analysis.
Conclusion
In conclusion, earnings calls are a critical source of information for researchers, marketers, and organizations. Analyzing these calls can provide valuable insights into a company’s performance, the market, and competitors. With techniques like Retrieval Augmented Generation, this process can be enhanced and streamlined, allowing for more efficient and accurate analysis. As the NLP field continues to advance, we can expect to see even more innovative approaches to earnings call analysis in the future.
How To Use Speak’s Retrieval Augmented Generation For Earnings Calls
Step 1: Create Your Speak Account
To start your transcription and analysis, you first need to create a Speak account. No worries, this is super easy to do!
Get a 14-day trial with 30 minutes of free audio and video transcription and analysis included when you sign up for Speak.
To sign up for Speak and start using Speak Magic Prompts with retrieval augmented generation, just visit the Speak app register page here.
Step 2: Upload Your Earnings Calls
We typically recommend MP4s for video or MP3s for audio.
However, we accept a range of audio, video and text file types.
You can upload your file for transcription in several ways using Speak:
Accepted Audio File Types
- MP3
- M4A
- WAV
- OGG
- WEBM
- M4P
Accepted Video File Types
- MP4
- M4V
- WMV
- AVI
- MOV
- FLV
Accepted Text File Types
- TXT
- Word Doc
CSV Imports
You can also upload CSVs of text files or audio and video files. You can learn more about CSV uploads and download Speak-compatible CSVs here.
With the CSVs, you can upload anything from dozens of YouTube videos to thousands of Earnings Calls files.
Publicly Available URLs
You can also upload media to Speak through a publicly available URL.
As long as the file type extension is available at the end of the URL you will have no problem importing your recording for automatic transcription and analysis.
YouTube URLs
Speak is compatible with YouTube videos. All you have to do is copy the URL of the YouTube video (for example, https://www.youtube.com/watch?v=qKfcLcHeivc).
Speak will automatically find the file, calculate the length, and import the video.
If using YouTube videos, please make sure you use the full link and not the shortened YouTube snippet. Additionally, make sure you remove the channel name from the URL.
Speak Integrations
As mentioned, Speak also contains a range of integrations for Zoom, Zapier, Vimeo and more that will help you automatically transcribe your media.
This library of integrations continues to grow! Have a request? Feel encouraged to send us a message.
Step 3: Calculate and Pay the Total Automatically
Once you have your file(s) ready and load it into Speak, it will automatically calculate the total cost (you get 30 minutes of audio and video free in the 14-day trial – take advantage of it!).
If you are uploading text data into Speak, you do not currently have to pay any cost. Only the Speak Magic Prompts analysis would create a fee which will be detailed below.
Once you go over your 30 minutes or need to use Speak Magic Prompts, you can pay by subscribing to a personalized plan using our real-time calculator.
You can also add a balance or pay for uploads and analysis without a plan using your credit card.
Step 4: Wait for Speak to Analyze Your Earnings Calls
If you are uploading audio and video, our automated transcription software will prepare your transcript quickly. Once completed, you will get an email notification that your transcript is complete.
That email will contain a link back to the file so you can access the interactive media player with the transcript, analysis, and export formats ready for you.
If you are importing CSVs or uploading text files Speak will generally analyze the information much more quickly.
Speak will automatically embed your data in a well-architected vector database which allows you to use retrieval augmented generation for Earnings Calls.
Step 5: Visit Your File Or Folder
Speak is capable of analyzing both individual files and entire folders of data.
When you are viewing any individual file in Speak, all you have to do is click on the “Prompts” button.
If you want to analyze many files, all you have to do is add the files you want to analyze into a folder within Speak.
You can do that by adding new files into Speak or you can organize your current files into your desired folder with the software’s easy editing functionality.
Step 6: Select Speak Magic Prompts To Analyze Your Earnings Calls
What Are Magic Prompts?
Speak Magic Prompts leverage innovation in artificial intelligence models often referred to as “generative AI”.
These models have analyzed huge amounts of data from across the internet to gain an understanding of language.
With that understanding, these “large language models” are capable of performing mind-bending tasks!
With Speak Magic Prompts, you can now perform those tasks on the audio, video and text data in your Speak account.
Retrieval augmented generation is what makes these Magic Prompts work so well.
Step 7: Select or Create Your Assistant Type
To help you get better results from Speak Magic Prompts, Speak has introduced “Assistant Type”.
These assistant types pre-set and provide context to the prompt engine for more concise, meaningful outputs based on your needs.
To begin, we have included:
- General
- Researcher
- Marketer
- Sales
- Recruiter
Choose the most relevant assistant type from the dropdown.
You can also create your own custom Assistant Template Type.
If you visit the new page Account Preferences, you can see there is now an area where you can create your own custom Assistant.
This allows you to set the context of the engine for higher quality and more consistent outputs.
For example, you could say:
“We are [COMPANY NAME]. We are analyzing [DATA] to understand how to improve [GOAL]. We want all responses to be concise and in table format.”.
This becomes a reusable template in any of your manual or automated Magic Prompts.
You can create multiple templates for different use cases.
As an example, the analysis you run on a focus group may be different than a one-on-one interview.
Step 8: Create Or Select Your Desired Prompt
Here are some examples prompts that you can apply to any file right now:
- Create a SWOT Analysis
- Give me the top action items
- Create a bullet point list summary
- Tell me the key issues that were left unresolved
- Tell me what questions were asked
A modal will pop up so you can use the suggested prompts we shared above to instantly and magically get your answers.
If you have your own prompts you want to create, select “Custom Prompt” from the dropdown and another text box will open where you can ask anything you want of your data!
Step 9: Review & Share Responses
Speak will generate a concise response for you in a text box below the prompt selection dropdown. With Chat enabled, you can also continue to query that data to reveal more insights and reformat the information to your needs.
In this example, we ask to analyze all the Earnings Calls in the folder at once for the top product dissatisfiers.
You can easily copy that response for your presentations, content, emails, team members and more!
Speak Magic Prompts Pricing
Our team at Speak Ai continues to optimize the pricing for Magic Prompts and Speak as a whole.
Right now, anyone in the 14-day trial of Speak gets 100,000 characters included in their account.
If you need more characters, you can easily include Speak Magic Prompts in your plan when you create a subscription.
You can also upgrade the number of characters in your account if you already have a subscription.
Both options are available on the subscription page.
Alternatively, you can use Speak Magic Prompts by adding a balance to your account. The balance will be used as you analyze characters.
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Here at Speak, we’ve made it incredibly easy to personalize your subscription.
Once you sign up, just visit our custom plan builder and select the media volume, team size, and features you want to get a plan that fits your needs.
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When you subscribe, you will also get a free premium add-on for three months!
That means you save up to $50 USD per month and $150 USD in total.
Once you subscribe to a plan, all you have to do is send us a live chat with your selected premium add-on from the list below:
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- Recorder Customization (Branding, Input & More)
- Media Player Customization
- Shareable Media Libraries
We will put the add-on live in your account free of charge!
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You will get paid a percentage of all sales whether the customers you refer to pay for a plan, automatically transcribe media or leverage professional transcription services.
Use this link to become an official Speak affiliate.
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