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Friday, 20 February 2015

Online Retail - Mining for Gold

Online retailers live in an ever-changing environment, and the ability to stay competitive is the difference between doing well and doing nothing. In today's fast paced internet market place, if you aren't using web scraping, you are missing a key component to growing your business.

Data Mining

Data mining your competition's prices and services and making sure your prices and services are similar, or even lower, is what makes the difference. Why should your customer choose you if they can get the same product somewhere else for less? What data you collect and how often you update it is also another key ingredient to success.

Extract Website Data

Web scraping allows you to gather information from your competition and use it improve your position in the market. When you extract website data from your competitor's website, it allows you to conduct business from a position that doesn't involve guess work. The internet is an environment that is constantly being updated and changed. It is vital that you have the ability to have up-to-date information on what others in your market are doing. If you can't do this, you really can't compete.

Application of Information

When you know what your competitors are doing all the time, you can keep your business a little more competitive than they are. When you have information such as monthly and even weekly price variations in the market and what products and services are being offered, you can apply that information to your own pricing matrix and ensure a competitive edge in your market.

An Army of One

Web scraping gives you the ability to see what is going on in the market at all times. You can monitor just about anything you choose with a web scraping service. Many online retailers are very small operations and they don't have the resources to constantly monitor each competitor's website - so engaging a web scraping service is like having your own marketing and research team working for you night and day to keep tabs on them. You choose what it is you want to know, and your research team goes to work. Simple.

Staying Ahead of Trends

Having the ability to recognize trends is the key to any business, especially on the internet were information is so fluid. The business that can identify a trend quickly and take advantage of it will always stay one step ahead. That's why big corporations have teams dedicated to researching market trends and predictions. If you can see where something is going, you can always get ahead of it. That's what web scraping can help you do - identify those trends in your market so you can get in ahead of the pack.

A Helping Hand

Sometimes running your own online retail business can be a daunting and lonely ordeal. Even those that have a great deal of experience with the internet can feel lost at times. A web scraping service is a tool you can use to help yourself in such times. Web scraping is automated and precise, and it gives you the ability to have vital information delivered to you in a manner you can understand and use. It's one less thing to worry about - and the information you get from data mining is what every business owner actually should worry about - what the competition is doing? With a web scraping service, you can concern yourself with other things - like making more profits.

Source: http://ezinearticles.com/?Online-Retail---Mining-for-Gold&id=6531024

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