How To Utilize Web Scraping For Building A Data Driven Product

Product Data from E-commerce Websites, product reviews, or auto listing provides a wealth of insights, which can offer your business an enormous competitive edge in the market. Having access to data in a 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 of how this data can be used – we scrape data from over 8 billion web pages every month as well as can see directly 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 for web scraped product data:

Using product 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.

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 to monitor 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.

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!

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.

The world’s most well-known companies experience a tough battle in making sure their messaging and branding is steady at all points of customer contacts. A brand’s reliability – as well as MAP (Minimum Advertised Price) policy are important for survival. Constantly scraping product data is the quickest and most efficient way of maintaining compliance across retailers and resellers but maybe amongst the only ways of enforcing steady compliance in the real-time. Channel partners could no longer escape flash sales, made to dip under MAP or MRP agreements, as well as expect to get off it.

Web extracted product data allows smart MAP monitoring systems to get implemented in product management systems, allowing quick identification of violations. All these systems could compare pricing against agreements as well as immediately notify all the legal teams about breaches, whereas concurrently aggregating evidences and suggesting some action. By working fast to find out MAP violations, businesses getting this data solutions decrease overall risks as well as protects revenue.

From sales & marketing teams to executive leadership and product development, product data allows functions to understand their completest potential as well as endows business using a competitive benefit in today’s globalizing and digital market.

As today’s market is continuously growing, the amount of products data produced grows with that, opening many new business opportunities to improve procedures as well as better decision making. So, today’s businesses need to work as fast as possible to incorporate product data in the product management systems because otherwise unseen insights can significantly inform reversing strategy as well as make sure company competitiveness.

Here at X-Byte, we are in the scraping industry for more than 12 years. We have assisted in scraping web data for over 1,000 clients, including Government agencies, Fortune 100 companies, early-stage startups, as well as individuals. IN this time, we have gained a huge amount of expertise and experience in data extraction.

For more details, contact X-Byte Enterprise Crawling or ask for a free quote!