We all understand the value of data collected by a company and how it can be used to improve product planning, customer retention, marketing, and business development, among other things. We have reached a stage when the internal data created by an organization has become associated with Big Data, thanks to the digital age and increased storage capacity. However, we must recognize that by relying just on internal data, we are neglecting another vital source - online data.
Let's take a look at some of the different ways that web data may be used. Please keep in mind these are all real-world use examples based on customer requirements we've experienced thus far.
1. Pricing Policies
This is one of the most typical E-Commerce use cases. To get the highest margins, it's critical to price items appropriately, which necessitates ongoing examination and modification of the pricing strategy. The first method considers market conditions, customer behavior, inventories, and other factors. Likely, that you're currently using your company's data to create a pricing plan like this. However, because consumers might be price-sensitive, it's also necessary to analyze the prices established by rivals for similar items.
iWeb Scraping’s DaaS solution can deliver data feeds from E-Commerce websites that include product name, kind, variation, pricing, and more. To undertake additional research, you may obtain structured data from your competitors’ websites in your choice format (CSV/XML/JSON). Simply enter the data into the analytics tool, and you're ready to incorporate the price strategies of your competitors into your pricing plan.
This will provide answers to certain key questions, such as: Which goods may command a premium price? Where can we provide a discount without losing money? You may also take it a step further by implementing a sophisticated dynamic (real-time) pricing strategy utilizing our live crawling solution. Aside from that, you may utilize the data flow to analyze and track the product catalogs of your competitors.
2. Reseller Management
Many manufacturers sell through resellers, and in most cases, the resellers are prohibited from selling the items on the same set of e-commerce sites. This guarantees that the vendor is not competing with other sellers for the sale of his or her product. However, manually searching the sites for resellers who are violating the conditions is quite impossible. Aside from that, some illegal vendors may be selling your product on numerous websites.
Web data extraction services can help you streamline the data collecting process so you can search for items and dealers in less time and with greater efficiency. Following that, your legal department can take appropriate action based on the circumstances.
3. Fraud Detection
Last year, Apple discovered that the majority of the chargers and cables marketed as authentic on Amazon were in reality poorly manufactured, with inferior or missing components, defective design, and insufficient electrical insulation. Simply put, buyers were buying counterfeit goods on Amazon because they trusted the company. There's no denying that Apple's brand image was being tarnished by counterfeit accessories.
In such circumstances, web crawling may be utilized to automatically retrieve product data points to detect substantial pricing change and verify the seller's authenticity. This may also be used to guarantee that your channel partners selling your items adhere to the agreed-upon minimum retail price. Prices falling below the MRP might have a detrimental impact on the bottom line. To detect partners that do not adhere to the agreement, near real-time crawls or live crawls can be done.
4. Demand Forecasting
Demand analysis is an important part of product planning and shipment. It provides answers to critical issues such as: Which product will advance quickly? Which will be the slower of the two? To begin, e-commerce companies can evaluate their own sales data to anticipate demand, but it is usually suggested that planning be completed well in advance of the launch. That’s because you won't have to plan after consumers arrive; you'll be prepared with the proper number of items to match demand. Scraping product reviews may assist both e-commerce businesses and manufacturers in gaining a deeper understanding of the market and capitalizing on it.
An online classified site is a terrific location to obtain a good indication of demand. Web crawling may be used to keep track of the most popular items, categories, and listing rates. You may also examine the pattern in relation to various geographical places. Finally, this information may be utilized to prioritize product sales in various categories based on regional demand.
5. Search Ranking for Marketplaces
Many e-commerce businesses offer their products both on their sites and on marketplaces such as Amazon and eBay. A large number of buyers and dealers go to these well-known marketplaces. Because of the large number of vendors on these platforms, it's tough to compete and rank well for a certain search. Multiple aspects (title, description, brand, photos, conversion rate, and so forth) influence search results in these markets, and improvement is required regularly. As a result, using web data extraction to track ranking for chosen keywords for individual items might aid in determining the success of optimization efforts.
6. Campaign Tracking
Many firms are interacting with customers on social media sites like YouTube and Twitter. Consumers are increasingly going to a variety of places to air their grievances. Businesses must now watch, listen to, and act on what customers have to say. You must examine beyond the amount of retweets, likes, and views to see how customers interpreted your words.
This may be accomplished by monitoring forums and social media sites such as YouTube and Twitter for all comments connected to you and your competitor brands. Sentiment analysis may be used to dig further into the data. This will provide you more ideas for future campaigns and will assist you in optimizing your product strategy as well as your customer service plan.
In this blog, we looked at some of the practical applications of online data mining in the e-commerce space. Crawling and retrieving data from the web, may be time-consuming and resource-intensive. To maintain a consistent flow of data, you'll need a strong IT staff with subject understanding, data infrastructure, and monitoring setup (in case the website layout changes).
It won't be out of place to remark that several clients attempted to accomplish this in-house and then came to us when the outcomes fell short of their expectations. As a result, it's best to deal with a specialist Data as a Service provider that can send data from any number of sites in a pre-specified format at the frequency you want. iWeb Scraping manages the whole data collecting process and guarantees that high-quality data is delivered without delay.
For any web scraping services, contact iWeb Scraping today!