We live in the information age. Information is vital for everyone in modern society – CEOs, entrepreneurs, financial analysts, marketers, journalists, students and professors.
You can get information from a vast amount of data. And the best way to obtain a significant amount of data from the web, is data scraping.
In this post, we will go over the advantages of web scraping for your business.
How Does Data Scraping Work?
Data scraping is known as website data extraction, web harvesting, web crawling, data crawling, or web scraping. Simply put, it is the process of using software applications to collect data from a website in an organised structure.
It may not be easy to download data from the web. Companies often protect their unique content from unauthorised access and use. Web page content can come as a collection of texts, images, HTML tags, videos, or JavaScript elements.
This is where automated web scraping bots crawl through the internet and extract data. They first break down the targeted site to HTML text and then scan through to gather data. The collected data is readable for whoever wants to use it.
Advantages of Web Scraping
Web scraping can be used in various industries. Starting a new project, or designing a new strategy for an existing product requires accessing and analysing a vast amount of data. This is where web scraping comes in.
Competitive Analysis
The E-commerce market is constantly growing. There is tough competition between digital retailers. For your business to survive, you need to study your competitors. Web scraping services can give your business all the latest market and competitors data, such as:
- Competitors product list
- The pricing policy of the competitors
- New product launches
- Discounts offered by competitors
- Data from Social media channels
Once you have this data, you can respond quickly to a new product launch, or discover a new market strategy, predict trends and stay competitive.
Pricing Optimisation
Setting up prices can be difficult. The market is dynamic, and so should be your pricing strategy in order to keep up with the changes and maximise profit.
Web scraping can help you obtain customer information and the prices set by the rival companies for the same product. This allows you to keep track of changes in market prices, new product launches and promotion events, in a timely manner. You can then analyse this data and determine the best price for the product or services.
Lead generation
Leads are potential customers. Tapping into leads can result in conversion to potential sales. Of course, you can always pay for leads, but they are not necessarily good quality.
Data scraping can help here as well. You can collect leads’ contact information from millions of websites within a short time span for free! This allows you to find marketing and sales solutions for the sales agent.
Investment Decisions
Making investment decisions is a complex procedure. You want to avoid any unforeseen risks and pitfalls, and seek out any potential investment opportunities.
The best way to tackle this is by collecting and analysing plenty of data. Web scraping can effectively extract limitless financial data and make it easily accessible. You can then use this data to gain insight, make sound decisions, and maximise your future investment returns.
Product Optimisation
If you have a product or service, you need to find out what your customers think about it. To do this, you need to collect customer feedback data, and the best way is – you’ve guessed it – web scraping. Once you’ve collected a considerable amount of data from many websites, you can analyse customers’ opinions and attitudes, cross-examine your product, and make improvements.
ITnnov uses a cutting-edge Data Scraper Engine to scan your industry and competitors. You get comprehensive, easy-to-understand graphs and overviews based on millions of collected data points.
Our AI algorithm then analyses data points, creates decision-making inputs, and presents you with the optimised further steps for your business, and your industry.
For more information, feel free to contact us at info@itnnov.com.
Takeaway
Knowledge is power, and information leads to knowledge. You can obtain information in various ways, but one of the most efficient is data scraping.
When you run a business, you need to focus all your energy on important business operations. In the meantime, you can rely on web scraping to obtain all the information you need to make the best possible decisions.
For more useful articles, follow ITnnov news section.
Sources:
https://rentechdigital.com/smartscraper/blog/t/why-web-scraping-may-benefit-your-business
https://datamam.com/who-needs-web-scraping/