Successful Partnerships That Transformed Business Data Strategies

Client Overview

A leading e-commerce brand selling consumer electronics and home appliances serves customers across North America and Europe. With over 200000+ monthly visitors and operations in 4 countries, this online retailer focuses on creating value shopping experiences. However, to do so, they wanted data to be integrated into their dynamic pricing engine. The data was to be fetched from 15+ other competitor websites. The client wanted real-time pricing data from competitors to keep their prices value-oriented for their customers.

Client Requirement

The client approached X-Byte with a specific requirement for transforming their business data strategy with regard to fetching real-time pricing data from key competitors. Earlier, they were trying to do it manually, and later used some web scraping tools, but most of the time their tools got blocked and couldn’t deliver the required data.

They needed a comprehensive data partnership solution that could provide:

• Real-time pricing data from 15+ competitor websites
• Integration of competitive pricing data into their dynamic pricing engine
• Automated data collection from competitors without ethical or legal issues
• Continuous business data flow to quickly adjust prices across their product catalog

Challenges

The project presented several significant challenges:

• Extracting data from 15+ competitor websites (large e-commerce giants) with different structures and formidable anti-scraping measures
• Maintaining data accuracy as we extract and tabulate data from multiple sources
• Ensuring data accuracy and consistency across multiple e-commerce platforms
• Creating a scalable architecture capable of handling thousands of product price updates daily
• Developing custom web scrapers for multiple e-commerce platforms
• Developing a system that could update prices in near real-time

Solution

Our team implemented a data extraction process that transformed the business data strategy of our client. It expanded from mere pricing to include other competitive intelligence, too.

1. We developed a robust data extraction framework to collect pricing information from competitor websites. Our scrapers were designed to handle anti-bot systems and adhere to the terms of use of the target websites.
2. Used advanced systems to check data validity. We confirmed accurate pricing, and our systems detected unusual price changes.
3. Built a system to send competitor pricing into the client’s pricing tool for dynamic adjustments.
4. Built clear dashboards to compare product prices with competitors in various categories.
5. Set up alerts that notify pricing managers about major competitor price updates.

Impact

Our partnership delivered transformative results for the client:

1. Reduced manual price checking time and cost by 290%.
2. We enabled near-instant market response for our client.
3. We increased the business data coverage across 25+ competitors in the next three months of implementation.
4. Improved pricing competitiveness by 40% and helped our client get better conversion rates.
5. Automated price adjustments helped our client beat competitors in many product categories that they were unable to do previously.
6. Generated an estimated $1.2M in additional revenue through optimized pricing strategies

Conclusion

By addressing complex data extraction challenges and implementing a scalable, automated pricing intelligence system, we helped our client maintain value-oriented pricing for their customers. This case study demonstrates how X-Byte’s partnership between our client and our data extraction company helped transform the client’s business data strategy related to pricing and competitive edge. The partnership continues to evolve into more business data strategies, including business intelligence, data analytics, and brand monitoring for the client.