Standard portfolio attribution analysis has become an important element of the investment management industry due to its ability to provide important information concerning the sources of returns.  The success of this feedback mechanism in the context of the overall investment process has led investment managers to apply attribution techniques to specific elements of the process. One of the most important specialized uses of attribution technology; particularly in a fundamentally bottom-up oriented process, is in the measurement of analyst value-added or analyst attribution.  Given that much of the equity investment management industry is built upon bottom-up company analysis, analyst attribution will likely prove an important tool for a good number of investment managers looking ahead.