Use Athena in M&A Due Diligence


Discover how to leverage Athena Intelligence for M&A due diligence, focusing on streamlining the process within the alternative milk industry through document loading, data querying, and report generation.

Loading Documents

Document Upload

To upload documents into Athena Drive, follow these steps to ensure they are well-organized and easily accessible during analysis.

  • Open the Athena Drive from the main dashboard.

  • Click the Upload button located at the top of the Drive section.

  • Select the documents you want to upload from your local storage.

Once the documents are uploaded, organizing and categorizing them can streamline your analysis process.

  • Create folders based on the type or purpose of the documents (e.g., Financial Reports, Market Research, Sustainability).

  • Use descriptive filenames to make documents easy to locate.

  • Tag documents with relevant keywords for quick search access.

  • Utilize the Integration feature to sync documents with other data sources if necessary.

  • Set permissions and shareability settings to control who can access and modify the documents.

Stay Organized

Use clear naming conventions and structured folders to keep your documents easy to find. Group similar documents together and label them by date or project for quick access.

Initial Document Review

To perform an initial review of uploaded documents, start by using Athena's natural language interface to get an overview of the content. This helps you quickly understand the main topics and key information contained within the documents.

Begin by entering a general query that aligns with your review objectives. For instance, you can ask, "What are the major topics covered in these documents?" or "Give me a summary of the documents." Athena will process your request and provide a concise summary of the main points.

Next, refine your understanding by asking more specific questions. For instance, if you are reviewing a collection of market research reports, you might ask, "Who are the major players in the market?" or "What are the key trends identified?" This will help you get detailed insights based on the content of the documents.

  • Using Athena's natural language interface helps you quickly identify the scope and relevance of the documents.

  • Specific queries allow you to delve deeper into particular aspects of the content.

  • This approach saves time and provides a clear starting point for your review process.

Data Querying

Query Major Players

Athena Intelligence can help you identify the major players in an industry through its natural language querying features. Here's how you can get started.*

To begin, ensure you have the relevant documents loaded into Athena. These documents can include industry reports, research papers, and other related sources.

Once your documents are ready, use the chat functionality to ask questions about the industry. Below are some example queries and the type of output you can expect.

Example Query: Who are the major players in the alternative milk space?

Expected Output: Athena will provide a list of major players such as Oatly, Alpro, Blue Diamond Growers, and Califia Farms. Each entry will include details like specialty, market presence, and key strengths.

Example Query: What does the competitive landscape look like in the alternative milk industry?

Expected Output: Athena will generate a summary of the competitive landscape, including information on market leaders, recent entries, and overall market dynamics.

Example Query: Can you list the top companies in the plant-based milk sector?

Expected Output: Athena will list the top companies, providing a brief overview of each one's market position and recent activities.

Remember, you can refine your queries based on the specific information you need. Athena's ability to cross-reference documents ensures that the data you receive is comprehensive and up-to-date.

Financial Data Extraction

To extract financial data from documents using Athena Intelligence, follow these steps. We will use Oatly's revenue as an example to illustrate the process.

First, ensure that the necessary documents are uploaded to your Drive. These documents might include financial reports, annual reports, or any other relevant files containing the data you need.

Once the documents are uploaded, you can use the chat feature within Drive to query Athena. For example, to find Oatly's revenue for 2023 and 2022, you can enter a query like What was Oatly's revenue in 2023 and 2022?

Athena will process your query and search the uploaded documents for relevant information. While Athena is retrieving and analyzing the documents, you can view the progress in the Execution Logs. This enables you to monitor how Athena is compiling the data and which documents are being referenced.

After processing the documents, Athena will present the results. For this example, the output might show that Oatly's revenue was $783.3 million in 2023 and $722.2 million in 2022. These figures will be extracted directly from the uploaded financial reports.

You can then interpret the results within the context of other available data. For instance, understanding Oatly's revenue growth by comparing the figures year-over-year. If you need further analysis, you can ask additional questions or request more detailed insights by querying Athena again.

Finally, you can take the output from Athena and insert it into an Athena Report to make it accessible to your team. This allows for streamlined sharing and collaboration over the extracted financial data.

Report Generation

Creating Research Reports

To generate a research report with Athena Intelligence, start by setting up the report parameters. Navigate to the Advanced Research Report section within the platform. Here, you can define the scope and structure of your report.

Begin by specifying the main topic of the report. You can enter a query such as ‘create research report on the alternative milk industry,’ followed by any specific details you want to include. For example, you might ask for information on top players, competitive landscape, and market segmentation.

Next, choose the format in which you want to publish the report. You can select options like Markdown or other supported formats according to your needs.

Once the parameters are set, Athena will integrate data from multiple documents to compile the report. Ensure all relevant documents are uploaded and accessible in the Drive section. Athena will retrieve data from these documents, cross-referencing information to provide a comprehensive analysis.

Athena uses its natural language interface and causal AI models to analyze and organize the data. The platform will automatically generate sections like market overview, key drivers, top players, and competitive landscape, based on the specified parameters and available data.

After the initial compilation, you can review the report for accuracy and completeness. If necessary, add or remove sections, and adjust the content to better meet your needs.

Inserting Query Results

To insert query results into Athena reports, follow these steps. This will help you present data in a clear and readable format.

Start by querying the data you need using the Chat feature in Athena. Once the results are available, you can insert them directly into a report.

For example, if you queried the revenue figures for a company like Oatly, you would see the results displayed in the chat window. Here's how to format and present this data effectively in a report:

  • Headings: Use clear headings and subheadings to organize your report. For instance, use 'Oatly Revenue Analysis' as the main heading, followed by subheadings like 'Revenue in 2023' and 'Revenue in 2022'.

  • Tables: Present numerical data in tables. This makes it easier to compare figures. You can create tables using markdown or other formatting tools available in Athena.

  • Charts and Graphs: Use charts and graphs to visualize data trends. This is especially useful for showing growth over time or comparing multiple data points.

  • Bullet Points: Summarize key points using bullet points. This condenses information and highlights important insights.

  • Quotes and References: If the data was sourced from documents within Athena, consider adding quotes or references. This provides context and adds credibility to your report.

Here’s a simple example of how to format a section in your report:

Oatly Revenue Analysis

You can also add a table for a more detailed comparison:


Revenue ($ million)







In Athena, after compiling this information, you can use the Visualize or Compile Report options to format the report. This will ensure the data is presented cleanly and consistently.

Growth: $61.1 million

  • $722.2 million

Revenue in 2022

  • $783.3 million

Revenue in 2023

Frequently Asked Questions

  • To upload documents, go to Drive and click on the Upload button at the top. Select the files you want to upload from your device.

  • Major players are key companies within a specific industry that have significant market presence. For example, in the alternative milk industry, the major players might include Oatly, Alpro, and Blue Diamond Growers.

  • To extract financial data, use the Chat feature to query Athena with specific financial questions. For instance, you can ask 'What was Oatly's revenue in 2023 and 2022?'

  • To generate reports, use the Advanced Research Report section in Drive. Enter your query, set the desired sections, and select the publish format. Click Create to generate the report.