You can take back valuable time on a busy earnings day by automating your model update process with the Canalyst Modeling Tools Excel Add-in. The Data Bridge and Updater tools automatically update your model for a new period without overwriting your model customizations and formatting. Before jumping in, it is important to understand which tool is optimal for your process.

The Data Bridge tool is designed to perform earnings updates on models that you’ve created yourself. These models do not need to be created with Canalystdata. Running the tool will replace forecast periods in your model with company reported data sourced and curated by the Canalyst Equity Research team.

The Updater tool is designed for updating Canalyst Models. Once you have added customizations like new rows or worksheets to a Canalyst Model, you can run this tool to update your model for more recent data without overwriting your customizations. The Updater tool will also update your Canalyst Model with any new improvements added to the model by Canalyst analysts since you last updated like a new worksheet or revenue segment.

If you are looking to update a model, first determine whether it is a Canalyst Model or one you’ve created yourself. Next, select the tool that is right for your model. See the key differences below.