8 Important Ways Web Scraping Can Help Your Business
However, this information/data available online helps business personnel like entrepreneurs, marketers and data analysts to make decisive decisions to help them grow their businesses.
This is where Web Scraping comes into play.
What Is Web Scraping?
Web Scraping is the method of using automated scripts or software to automatically harvest a large amount of publicly available data such as Stock prices, product details, sports stats, company contacts, etc.. from websites to make decisive data-driven business decisions to grow your business exponentially.
This Harvested data is then converted into CSV, Excel Sheets or API which will be more useful for the users to use it effectively.
1. Do Market Research With The Help Of Web Scraping
If you’re thinking about starting a business or growing your existing one, Conducting market research is the most important thing to do especially in complex industries like E-commerce, Real estate, etc…
Using Web scraping you can attain a high volume of quality and insightful data that could run market trend analysis, and market pricing and drive your business decisions not only to survive but also to come out on top in your industry.
2. Price and Product Intelligence Monitoring.
You can use web scraping to gather price information of your competitors and the stock availability of the product to optimize your product’s price strategy and learn about your position in the market.
You can also stay on top of your competitors’ dynamic pricing, revenue optimization, product trend and minimum advertised price of their products.
3. Generate Leads For Your Business
Web scraping can be used to generate leads for your business by scraping websites like LinkedIn, The Yellow Pages, Clutch, Glassdoor, Amazon Seller Profits, etc.. to find potential customers who would be eager to work with you.
4. Competitor Analysis To Stay On Top
If you are in a dynamic business like E-commerce there will be multiple competitors with different prices and different business approaches waiting to cut you out of the competition,
Keeping an eye on them might be an exhausting task, But fear not with the help of web scraping you can keep tabs on your competitor’s product features, prices, and landing pages plus their social media accounts, or any other variables of your interest.
You can reap the benefits of web scraping in competitor analysis by aggregating all of the scraped data and compiling them into a single report where you can determine averages, in-demand products in the industry and other undiscovered opportunities.
“If you know the enemy and yourself, you need not fear the result of a hundred battles.”
-Sun Tzu
5. Monitor Your Brand
While running a business it’s really important to know what your customers think about your products/services.
Instead of manually searching for product reviews of your customers for your products on social media sites or other forums you can use web scraping to collect your customer’s reviews from all of these social network mediums and help your marketing and public relation teams to keep track of all these feelings and opinions of your customers.
6. Web Scraping Can Help With Real Estate Too
Want to buy real estate or want to invest in them but struggling to make the right decision?
You can do web scraping to appraise property value, monitor vacancy rates, estimate rental yields, understand market direction and invest in properties that benefit you.
7. Make Informed Finance And Investing Decisions
With web scraping, you can scrap the insights from SEC filings, and financial data, estimate company fundamentals, have an overview of public sentiment about the company that you’re looking to invest in, and monitor the news from different data sources and get them in a single dashboard to make an informed decision for your investment,
At the same time avoid the time-consuming process of making these informed investment decisions manually.
8. Sentiment Analysis To Keep Your Customers Happy
You can use web scraping to analyze the sentiment of your customers from publicly available review sites by using natural language processing (NLP).
Have constant updates about your brand, and your competitors and look for new problems the customers want you to solve for them.
Conclusion
In conclusion, These are the ways web scraping can help your business to take clear and concise data-driven decisions to stay on top of your competitors.
Feel free to comment your thoughts in the below comments section.
FAQ
Is Web Scraping Legal?
Web scraping is not illegal if you are scraping publicly available data from websites.
But if you’re scraping private/confidential data which is not meant for scraping then you’ll be in trouble.
Why Is Web Scraping Important For Businesses?
Web scraping can help you keep an eye on your competitors, and make data-driven decisions to grow your business.
What Businesses Uses Web Scraping?
Businesses like E-commerce, Real Estate, Finance and Investing, etc… use web scraping to make data-driven decisions.
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