---
title: Big Data's Impact on Analysts
url: https://www.ml-quant.com/papers/ssrn/4679197/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 4679197
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4679197
featured: 2024-01-03
citations: unknown
topic: Trading, Microstructure & Execution
---


# Big Data's Impact on Analysts

Sell-side analysts using alternative data in their analyses generate more accurate earnings forecasts and earn higher trading commissions.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4679197
- Identifier: SSRN 4679197
- Released: 2022-02-15
- First featured: Quant Letter No. 31 (2024-01-03): https://www.ml-quant.com/issues/2024-01-03/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Trading, Microstructure & Execution

## Related

- [Optimal Fees for Liquidity Provision in Automated Market Makers](https://www.ml-quant.com/papers/arxiv/2508.08152/): The research investigates the earnings of passive liquidity providers in automated markets, suggesting that optimal fees should balance volume attraction and revenue generation, and dynamic fees can enhance results.
- [17-Year Backtest of Straddles around SP500 Earnings Announcements](https://www.ml-quant.com/papers/ssrn/4832160/): The study suggests that using straddle derivatives strategies around SP 500 earnings announcements can be profitable, but also risky and costly.
- [Off-Exchange Trading Impact on Stock Price Crashes: Dark Trading](https://www.ml-quant.com/papers/ssrn/4532007/): Dark Trading: Dark trading, or trading that occurs off-exchange, has been found to significantly increase the risk of stock price crashes, especially for stocks with high institutional ownership and negative earnings news.
- [Online Sales Tax Avoidance](https://www.ml-quant.com/papers/ssrn/5100412/): The study examines the effect of disclosing alternative data on corporate tax avoidance, revealing that tax avoidance decreases with such disclosure, especially for firms with high information opacity and low stock liquidity.
- [Public Information Costs](https://www.ml-quant.com/papers/ssrn/5256379/): An AI analyst can generate significant trading gains using public data, outperforming most mutual fund managers.
- [FAST: Efficient Action Tokenization for Vision-Language-Action Models](https://www.ml-quant.com/papers/arxiv/2501.09747/): A new tokenization scheme, Frequency-space Action Sequence Tokenization (FAST), has been proposed for robot actions, facilitating the training of vision-language action policies for complex and high-frequency tasks.
