Companies try to stay on top or else risk losing business and profit. Web Scraping, or a process where one “collects” publicly available data on websites, can potentially play a huge part in critical business aspects such as competitor analysis and price monitoring.
When your competition has lower prices for similar goods, you’re likely to suffer from loss of business. While your marketing team can routinely take a look at the competitor’s site and see how they’re pricing their products, it doesn’t offer a deep insight and will be very time consuming. Companies can turn to DIY scraping, but results may not be effective.
E-commerce sites have expansive data that can be crunched, i.e., product descriptions, prices, ratings and reviews from both customers and retail sites. It’s thereby crucial to utilize reliable scraping solutions that provide highly accurate results and gives you high quality data you can use to your advantage.
You’ll need a cloud based web scraping platform that gives out data formatting and extraction while making storage and data analysis a simple affair. With it, you can get invaluable, current information on what your competitors are charging for which product and when. You’ll be able to see patterns of sales, i.e., flash sales during tuesdays, bundling of certain products and selling them off at a discounted price, promotions, and seasonal trends. You can compare and make adjustments to fit your strategy and beat your competitors at their own game. The extracted data may be pulled in straight to your system, auto-assigning prices on each product after analyzation.
Web scraping works across all industries. Recruiters can use this tool to get competitive intelligence during the recruitment process. Just like your agency, competitors could be displaying ads stating their intent to hire new talent. Scrapers can collect the data on job aggregation and job listing sites, have them arranged and sent straight to your inbox. Manufacturers can also benefit from web scraping by acquiring data on product descriptions and potential end user issues that they can use to improve their own product.
Controlling vital data points such as competitor monitoring, price extraction and your own knowledge of the industry can make for an unbeatable marketing combination. With web scraping platforms for efficient data analysis and integration with your own strategies, you’ll have a greater chance at turning huge profits and growing your business.