Product data from e-commerce websites, product reviews, or auto listing provides a wealth insights, which can offers your business with an enormous competitive edge in the market. Having access to data in the well-structured format could unleash new prospective for business intelligence teams as well as their equivalents in sales, marketing, as well as management, which depend on precise data for making mission-important business decisions.
At X-Byte, we offer a unique view about how this data can be used – we scrape data from over 8 billion web pages every month as well as can see direct how our world’s most inventive companies are utilizing product data scraped from the web for developing new business skills for themselves as well as their customers. If you’re a start-up, a hedge fund manager, or any e-commerce giant, let’s go through some exciting new uses about web scraped products data:
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- Brand & MAP Compliance
- Competitor Monitoring
- Dynamic Pricing with Revenue Optimization
- Investment Decision Making
- Product Trends Monitoring
Brand & MAP Compliance
Access of reliable and accurate product data authorizes businesses to observe all aspects of the Omni-channel strategy. It’s similar to be a fly on a wall of all authorized merchants, re-sellers, as well as retail locations selling any particular products, allowing quick turnaround about merchandising audits as well as MAP violations. In the past, it needed constant vigilance as well as ample time – today, different software could automate all these headaches.
Competitor Monitoring
Using products data to track competitors is as old-fashioned as the internet. However, we are increasingly seeing companies completely redefining the scale and scope of competitor monitoring capabilities with the usage of Big Data, big-scale data extraction, as well as difficult machine learning skills. Businesses have become well-aware of huge opportunities of generating actionable competitor insights with extracting product data as well as data teams are multiplied to meet all the increasing requirements. Powerful data scraping solutions allow companies to instrument dynamic pricing as well as not miss any market opportunities.
Dynamic Pricing with Revenue Optimization
For making profitable price decisions, getting access to a reliable and timely resource of high-quality data is very important. By extracting pricing data, the business intelligence teams get empowered to assertively position services and products. Accessibly, this data could be integrated straight with the product management systems. Auto data collection give a very little possibility for the human errors as well as allows an organization in monitoring the entire market, as well as always stay one step ahead. Real product price intelligence will stay on the top of pricing changes has already showed to be extremely effective as it has become a required practice for leading retail organizations.
Investment Decision Making
Account managers and hedge funds are increasingly combining optional data streams in decision making procedures, hoping to get an edge over market as well as produce alpha. Consequently, the demand of product data remains increasing, with most recognized investors growing the amount of extracted data they use. Given its analytical utility, it’s not tough to observe why products data is of big interest for them. Today, extracted big data, helped by Artificial Intelligence as well as Machine Learning helps firms in predicting revenue momentum, company valuations, stock prices, as well as identify opportunities and risks for investments and it is only the beginning!
Product Trends Monitoring
The scale as well as multi-dimensional aspect of any product data can make it seamless for web scraping, as well as once integrated in a product management system, the product data helps companies to observe farther, expect more accurately, as well as drive income growth. Web extracted data empowering fashion makers to improve their products, trends, fashions, prices, as well as inventories to accurately reply to cyclical and seasonal changes. It means high similarity with consumers, higher revenue, as well as bringing right products to market at right time.
Real-time prices with constantly scraping your individual product data is the quickest and most efficient way of maintaining compliance across retailers and resellers but possibly amongst the only techniques of enforcing constant compliance in the real-time. Product data helps companies in keeping a check on supply chains and directly notify legal teams regarding compliance violations.
With constant market growth, binding the power of product data has become more important for companies to make sure future growth. If you want product data scraped from the web, contact our solution team today!
