Web scraping has advanced from the manual mode of copying and pasting information from web pages to a file in a computer to automated forms of data mining that have the abilities to process huge amounts of filtered and customized data of filtered and customized data. Web scraping enables a business to enjoy many benefits that are as follows:
Competitor price analysis. Data mining helps you to know prices of the various competing businesses and the impact of such actions on sales. Competitor price monitoring allows you to know the prices that have persuade the customers to buy the competitor’s products. Research indicates that majority of customers are persuaded by the price alone. A thorough price analysis of your competitors allows you to position yourself strategically in the market.
Gather market intelligence. Doing business without having the requisite knowledge about market makes you dependent on faulty strategies. On the other side having such information ensures to have a definite target market with the crucial demographic information, popularity of certain products, reputation of brands and competitors’ environment.
Keep up with the competition and market trends. This makes it possible for you to act according with the emerging changes and take advantage of the new trends. This means that Data mining should be a continuous activity.
It is very important in today’s dynamic business world to understand the requirements of your customers and their preferences as they are the king of the market they determine the demand. Web data scraping process will help you in getting this vital information. It will help you in making crucial decisions which are highly critical for the success of business