How To Get A Competitive Edge In The Market Using Product Data Scraping?

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 prospects for business intelligence teams as well as their equivalents in sales, marketing, and management, which depend on precise data for making mission-critical 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 of web-scraped products data:

• • Brand & MAP Compliance
  • Competitor Monitoring
  • Dynamic Pricing with Revenue Optimization
  • Investment Decision Making
  • Product Trends Monitoring

Access to reliable and accurate product data authorizes businesses to observe all aspects of the omnichannel strategy. It’s similar to being a fly on the wall of all authorized merchants, resellers, 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.

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 advanced machine learning skills. Businesses have become well-aware of huge opportunities for generating actionable competitor insights by extracting product data, and data teams are multiplying 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 source of high-quality data is very important. By extracting pricing data, the business intelligence teams get empowered to position services and products assertively. Accessibly, this data could be integrated straight with the product management systems. Auto data collection gives a very little possibility for human errors, as well as allows an organization to monitor the entire market, and always stay one step ahead. Real product price intelligence will stay at the top of pricing changes, which has already shown 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 the 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 product 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.

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!