Financial documents examination methods and systems
A user is able to extract financial data, particularly tables, from a document. The table is stored and the user can compare the data in this table with data from similar tables from previous documents. The user can see how financial data has changed historically by looking only at financial tables from the same type of document, for example, only balance sheet tables from annual reports for a specific public company, over many years, and see how the values have changed or whether any new categories or types of data have been added or deleted. From the time series of financial data, the user can gain real intelligence into an entity's financial health.
1. A system comprising:
at least one processor, the at least one processor configured for:
receiving a first document and a second document, wherein the first document and the second document each contain tabular data;
identifying a table from the first received document, wherein the identified table from the first received document contains financial data;
creating a mapping of data values in the identified table from the first received document to terms associated with rows in the identified table from the first received document and data headers associated with columns in the identified table from the first received document;
identifying a table from the second received document that contains financial data that is similar to financial data in the identified table from the first received document;
generating a new table that combines the financial data in the identified table from the first received document with the financial data in the identified table from the second received document based on the mapping of data values in the identified table from the first received document;
causing the new table to be displayed on a user interface of a computing device associated with a user of the system; and
in response to a selection by the user of the system, exporting the new table in an output document that has a standardized file type to a computing device associated with the user of the system for use outside of the system.
2. The system of claim 1 , wherein the financial data in the identified table from the first received document is combined in the new table with the financial data in the identified table from the second received document based on the terms associated with rows in the identified table from the first received document.
3. The system of claim 1 , wherein the financial data in the identified table from the first received document is combined in the new table with the financial data in the identified table from the second received document based on the data headers associated with columns in the identified table from the first received document.
4. The system of claim 1 , wherein the financial data in the identified table from the first received document is interleaved in the new table with the financial data in the identified table from the second received document such that each row in the new table is organized in chronological order.
5. The system of claim 1 , wherein identifying the table from the second received document is performed using row matching or column matching.
6. The system of claim 1 , wherein the second received document is a later version or an earlier version of the first received document.
7. The system of claim 1 , wherein similarity between financial data in the identified table from the first received document and financial data in the identified table from the second received document is determined based on terms associated with rows in the identified table from the first received document.
8. The system of claim 1 , wherein the identified table from the second received document is identified using row-based matching.
9. The system of claim 1 , wherein the identified table from the second received document is identified based on data headers associated with columns.
10. The system of claim 1 , wherein the identified table from the second received document is identified using statistical comparison between financial data in the identified table from the first received document and financial data in the identified table from the second received document.
11. The system of claim 1 , wherein the identified table from the second received document is identified using a dictionary of the identified table from the first received document, wherein the dictionary of the identified table from the first received document includes data values from the identified table from the first received document, number of columns of the identified table from the first received document, the data headers from the identified table from the first received document, a source location of the first received document, or a relationship between data and column headers of the identified table from the first received document.
12. The system of claim 1 , wherein the at least one processor is further configured for:
receiving a third document, wherein the third document contains tabular data;
identifying an additional table from the third received document, wherein the additional identified table from the third received document contains financial data that is similar to financial data in the identified table from the first received document and financial data in the identified table from the second received document; and
combining, in the new table, the financial data from the additional identified table from the third received document with the financial data in the identified table from the first received document and the financial data in the identified table from the second received document based on the mapping of data values in the identified table from the first received document.
13. The system of claim 12 , wherein the at least one processor is further configured for displaying the identified table from the second received document or the additional identified table from the third received document in response to a user selection of a portion of the identified table from the first received document.
14. The system of claim 1 , wherein the at least one processor is further configured for generating a user alert when a new document that contains financial data that is similar to financial data in the identified table from the first received document is received by the system.
15. The system of claim 1 , wherein the at least one processor is further configured for identifying non-matching rows between the identified table from the first received document and the identified table from the second received document.
16. The system of claim 1 , wherein the at least one processor is further configured for displaying the second received document along with the identified table from the second received document.
17. The system of claim 1 , wherein the at least one processor is further configured for converting display units in the identified table from the first received document or the identified table from the second received document for consistency.
18. A method comprising:
receiving a first document and a second document, wherein the first document and the second document each contain tabular data;
identifying a table from the first received document, wherein the identified table from the first received document contains financial data;
creating a mapping of data values in the identified table from the first received document to terms associated with rows in the identified table from the first received document and data headers associated with columns in the identified table from the first received document;
identifying a table from the second received document that contains financial data that is similar to financial data in the identified table from the first received document;
generating a new table that combines the financial data in the identified table from the first received document with the financial data in the identified table from the second received document based on the mapping of data values in the identified table from the first received document;
causing the new table to be displayed on a user interface of a computing device associated with a user; and
in response to a selection by the user, exporting the new table in an output document that has a standardized file type to the computing device associated with the user.