Compliance & Risk Management

The above terms may seem heavy to understand but play a crucial role in a companies growth and success. So let us understand what these spheres deal with -

Risk management

It refers to the processes with the help of which the management / the organization can identify, analyze, and where ever necessary, respond appropriately to the anticipated risks, which may adversely affect and obstruct the path of realization of the organization's business objectives. The response to risks typically depends on their perceived gravity/ intensity of the problem, and involves controlling it, avoiding it, accepting it and moving accordingly or transferring it to a third party for it to be handled appropriately.

Most of the organizations and / or business groups routinely manage a variety of risks - be it technological risks, commercial/financial risks, information security risks, privacy risks, R&D risks or be it external legal and regulatory compliance risks. All of these if taken care and handled on time appropriately can help boost a company growth graph drastically and if not, then can lead to a rapid downfall too.

Compliance
It caters to adhering to the stated requirements, which at the organizational level, is often achieved through management processes identifying the applicable requirements - laws, regulations, contracts, strategies and policies, assessing the state of compliance, anticipating/determining the risks and loop holes and evaluating the potential costs, thence prioritizing, funding and initiating any corrective actions deemed necessary.

Competitor price monitoring – Why Use It

The market is dynamically changing more than ever. Competition is growing more stiffer and stiffer with each passing day but so are the business opportunities. Previously companies used to depend solely on manual tools and techniques to track price surges and they used to guess the market trends with minimal information. This meant inaccurate decisions and probably a counter move that depreciates the business even further.

In order to stay up, companies should know what is happening in the market and what the competitors are doing. Product prices are the main thing that may attract customers or vice versa. Many a time reducing price is the only option if you need to gain more customers but there is always a problem, and in this case, it is the competition from other business that can probably spoil your new move. They may reduce the price even further and by the time you become aware of it, you might have lost all the business opportunity linked with the product.

Competitor Price Marketing

You might have understood the role of competitors in affecting your business. To make your business profitable, you need to be aware of the competitor’s move and also about the customer price offers. Previously, this method was slow and used to be quite complex but today, with growing digitalization, this has become faster and more accurate. Today, software is available to keep track of competitor pricing and also about the latest product trends in the market.

Why use it?

Today’s market has become multi-dimensional and more diverse than ever before. Growing economy has lead to more products and more customers. This means more business but with this growth, there is also an increase in the businesses and therefore more competition.

To stay ahead of the competition and to get more customers, you need to make sure that you attract more people and one way of doing it is by offering the cheapest prices. This is where a Competitor price Monitoring can help you.

With this software, you can keep track of the competitor prices for the products you have tagged. This won’t only help you to adjust your prices in a better way but will also help you to understand your competitor’s reaction to the price changes implemented by you. This is how big MNCs like Amazon function. They keep track of the prices offered in the market and immediately match their prices to attract more customers.

As per a study, 74% of business don’t track their competitor for prices and this costs them thousands if not lakhs. Just with a competitor, you can enhance the business and can gain a huge technical advantage over your customer. This is exclusive for online retailers and therefore should be used extensively.

You can avoid a lot of mistakes while assigning new prices. Most businesses use Excel to record data and then this is used for predicting new costs. This is a slow process and there are huge chances of mistakes. Using Competitor Price Monitoring software can not only help you make better decisions but also will enable you to save time and resources, thereby increasing your ROI.

Recent Trends In Web Data Mining

Web mining is the application of data mining techniques to extract the knowledge available in Web data. It includes Web documents, hyperlinks between documents, usage logs of web sites, etc. Nowadays its trend to extract data from different sources and organizes them for better usage

Firstly it was a ’process-centric view’, which defined Web mining as a sequence of tasks. Second was a ’data-centric view’, which defined Web mining in terms of the types of Web data in the mining process. The attention paid to Web mining is  in research of software industry, and Web-based organizations. It is the chance to capture them in a systematic manner, and identify directions for future research..

Web data mining consists of 3 following tasks

• Resource finding: It involves the task of retrieving intended web documents. It is the process by which the data either from online or offline text resources are available on web.
• Information selection and pre-processing: It involves the automatic selection and preprocessing of specific information from retrieved web resources. This process transforms the original retrieved data into information. The transformation could be renewal of stop words, stemming or it may be aimed for obtaining the desired representation such as finding phrases in training corpus.
• Generalization: It automatically discovers general patterns at individual web sites as well as across multiple sites. Data Mining techniques and machine learning are used in generalization 4. Analysis: It involves the validation and interpretation of the mined patterns. It plays an important role in pattern mining. A human plays an important role in information on knowledge discovery process on web.

Many businesses have been adopting the process of data mining to catch up with others. Business taking important information through data mining is widely used for decision making purposes. Here are some recent trends in Data Mining are:

• Multimedia Data Mining: It is one of the latest processes to catch up because of growing ability to capture useful data from different sources. Different sources include audio, text, hypertext, video, images etc. and data is transformed into a numerical representation in different format.
• Ubiquitous Data Mining: This involves mining of data from mobile devices to get information of individuals. These having several challenges like complexity, cost privacy, etc. these methods has a lot more opportunities to be enormous in these type of industries.
• Disturbed Data Mining: Though data mining has gained popularity as it involves mining huge amount of information stored in different company location. To extract this data highly sophisticated algorithms are used to provide proper insights and reports based on them.
• Satial And Geographic Data Mining: The new type of data mining includes extracting information from environment, astronomical, and geographical data as image is taken from space. These data mining can reveal various aspects such as distance and topology which is used in geographical information system and navigation too.

Time Series and Sequence Data Mining: These type of data mining studies about cyclical and seasonal trends. It is helpful in analyzing random events occur outside normal events. It is mainly used by retail companies to access customer buying and their behaviors.

Benefits of Web Scraping Services

The Internet is a huge reservoir of unlimited information. There are different tools to harness this energy of the reservoir in such a way that it is beneficial to the business and to the market in general. One of the tools used is Web Scraping. Web Scraping is a tool that is used for extracting information from different web pages and putting it together. Web Scraping is used to generate leads for the business, improved search engine optimization, reviews from the customers, the response to the product, comparing prices and other uses such as market research. There are different advantages of using web scraping services.

Advantages & Inexpensive

Talking about the small organizations, there are not enough resources that can be invested in order to collect data from different sources. Here, web scraping services come into the picture. Web scraping

services are inexpensive and do a very efficient work for the business. This helps the organization to do a very important job in a very budget-friendly manner. The data collected from different sources can be analyzed by using different software and required information can be obtained. There is a huge amount of data that can be collected at a low cost and used for market research.

Easy Implementation

Investing in a web scraping service is an investment that you will have to make only for once. Anonymous web scraping services are inexpensive on the first note and on the second, the web scraping services allow the gathering of information from all the different resources at the same time. There are different tools available which either help with gathering information from individual platforms or are involved in the analysis. This increases the cost of operation for the organization. But, while using web scraping services, these costs can be eliminated completely.

Low Maintenance and More Speed

This is one of the greatest advantages of using a web scraping service. Once the tool is installed on the system, there is not much maintenance required to run the software efficiently. There are many tools in the market that require higher processing power as the software upgrades. While using web scraping service, the processing power required remains the same and the software keeps running smoothly. Moreover, the web scraping service tools are light in nature. This means they will not slow down the system. The software will collect the information and store it without causing problems to other features of the system.

Accurate Data

It is important to have an accurate data when a market research is to be carried out. If the data is inaccurate while collection, it can lead to major risks while implementing. The processing of web scraping service is easy and fast. Although, this does not compromise the quality of data that it gathers. The data collected from different web pages is accurate and sorted. As you choose the higher versions of the web scraping tools, the data gets more filtered and better quality of the data keeps getting collected.

Conclusion

There are different advantages of using the web scraping services. There are some disadvantages too which have to be kept in mind. All in all, it is important to choose a proper web scraping service for best results.

Competitor price monitoring - How It Works

Competitor Price Monitoring is a software put into use that helps in collecting a large amount of data and optimizing marketing, merchandising and pricing in a way that is brings you the maximum amount of profits. In a market where competition is extreme and unavoidable, this tool is essential as it can significantly help in taking strategic decisions and finding out what works the best for your business. It is ethical since it only uses information that is open for the public to see.

Finding your Competitors

Price Monitoring software require you to submit the websites that you wish to monitor, following which it does all the required work. The first step, however, is to find out who

Price Monitoring

exactly is your competition. This will determine the strategies that you’ll need to work on. One can do so with the use of social media by making a list or pool of every potential firm or company that might come close to your company’s revenue and profit, and rule them out one by one. This depends on your product as well as the level of competition.

Identifying Strategy

You need to determine how you would be pricing your own goods – i.e., either your focus will be on the market as a whole, or individual customers. It is essential to mix and match them all in a way that suits your needs and demands the best. Price Monitoring depends on the same as it helps in determining how others pricing would be affecting yours and to what extent.

Choosing the Right Software

It is very important to find just the right software, the one which fits your business the best. This would be helpful in web scraping and thus extracting information from all over the net as much as possible. These software help in increasing efficiency, reducing the time taken to complete a certain amount of work as well as lessening the scope of human error that occurs several times. Although all of the work can be done manually, choosing the right software will undoubtedly reduce the work load.

Benefits

Monitoring the price regularly can help a business understand the market as well as apply the best tactic that would be suitable for the given conditions. Moreover, these techniques do not cost much, which is beneficial for individual and small companies. Knowing the price of your competitors can give you an edge over them putting you in a much better position. According to these you can decide how you wish to decrease or increase price for profit maximization.

In order to make sure that Competitor Price Monitoring works well for you, it is important to put into use techniques of data mining and web scraping to generate information from websites that might be similar to you in several ways without making any changes to the source code. To have your share in the hectic and large e-commerce world, it is necessary to know this skill so that your business can prosper.

Web Scraping – A Collaborative Framework To Extract Data

Web Scraping Techniques

Web scraping is techniques through which the data can be saved to the personal servers in the file created and use them as and when required. As it is known data provided by different sites can only be referred online and cannot be stored or saved for the future use, this is a service in which one can save the data needed and then use it to refer whenever required in the future. There are many individual servers or companies that provide the service of website scraping through them and collect the data from any site or group of sites needed. They provide special services according to the client needs and thus they are one of the best sources to rely on for the data collection or storage issues.

Importance Scraping Data

Web scraping has gone along the way and has developed a whole of the organisation to develop them. Startups and business are the ones which are most

benefited from it. They help is data crawling from any corner of any website. Here is some of the importance listed.

• Helps to gain the track of things and trends happening around.
• Send the clients and the customers the details of modification easy with accurate details and the exact requirement.
• It helps in the extensive research and data collection for the company use and also helps them in the marketing accordingly.
• It can help to promote or market the company on a wider world i.e. internet and thus help to reach as many as possible people around.
• It helps and contributes to the growth of the company and thus can be one of the most important tools in the organisation
• It can be a Turing point to grow the organisation in the right direction to gain the profit and can also help to survive in the market.

Benefits

Using web scraping in the organisation can be beneficial many terms. Here some of the benefits are the discussion to give an overall idea about the service.

• Data can be generated or collected automatically.
• The service can scrap both the dynamic as well as static web pages to gather information.
• Data can be gathered from various sources.
• The data collected are accurate and reliable at the same time.
• Data mining can be done easily from the website.
• Price monitoring on various sites on the online platform can be done easily.

Thus, there are several benefits of web scraping in today’s online world where internet rules and can provide the organisation with the best.

Now, as web scraping helps and organisation for the growth it also faces certain challenges and which are mentioned below.

• It can cause damage to the web pages.
• The information which is obtained is extensive and is hard to find the right thing needed from them.
• Can be hard to operate for some people.

Conclusion

Thus, web scraping comes with a number of benefits but it also faces challenges and it is up to the organisation what they consider best and how do they use it for their best interest.

Scraping the Web in Competitive Marketing

The dawn of the internet era brought a massive amount of people (and data) only at a click’s distance through websites. Every connected user leaves an online footprint and adds to the scattered raw data which requires an expert analysis before it could be used as information. The web pages as a structured document allow those gazillions of pages to be used information data sets. It was this gargantuan volume of information that replaced the use of ad-hoc software users with bots unless the website explicitly prevents it.

Web Scraping tools sieve out data from the web pages in a format entirely based on our requirements and leaves the structure of the document unscathed. With Big Data becoming the future that will affect all the industries, websites as an abundant source of data have become the most lucrative part of the deal.

As the data may update dynamically, most of the extensions and tools look out for these changes and web crawling software and browser extensions. Static information can also be stored offline in various formats (CSV, JSON) for unlimited access.

update the results automatically. Depending on the parser used in the scraping tool, the data can be exported into a format that allows improved visibility. Now when nary of the sites are written in pure HTTP, developers have to focus on handling multitudes of processes and calls made by scripting languages like JavaScript- which itself is backed well by a large no. of libraries that provide loads of functionality, handle Ajax calls and also maintain session cookies. This increased up the demand for both advanced standalone

Web crawlers, or bots, can essentially be an alternative term for scraping albeit defining themselves physically as well. These bots use the sitemap to crawl or navigate the site to extract the data. The parser can identify and select the tags of different type and mine them categorically.


Competitor Price Monitoring

A Noble tool for a fierce world

Of the most immediate applications, Competitor Price Monitoring is the hottest areas where web scraping services are employed. With rapid market extension and outreach thanks to improved digital services via numerous competitive e-commerce services, the game that is business has changed. competitor price monitoring solutions provide comprehensive competitor statistics, from tracking price fluctuations in related products, categorizing the price ranges along extended periods of time, to predicting the product behavior in the market based on the company’s history and trending-to-upcoming factors that influence the consumer’s and competitor’s online activities. This hugely improves the strategizing policies as companies can observe and assess their market performance in real time.

Easier business terms and improved entrepreneurial environment has thrown a lot of competitors in the field, creating an unprecedented competition among the various branches of manufacturing and services sector. With a vast myriad of options available, it comes naturally not only for the consumers but also for the enterprises to monitor the options available for the users in the parallel marketplace. This has converted even the task of comparison into a competitive market itself. Professional

Using web data scraping for financial growth

There is vast amount of data available on the Internet in various formats. A simple search would reveal too many results. If you try to implement a manual process of sieving through all of this data, imagine the time that you would spend to collate the data. Also, this may have a direct impact on the time-to-market, which will affect your timely business growth. Many business require specifically the price related information. Your business organization can utilize this price information to gain a competitive edge against your competitors.

However, all of the data available is not free of cost and some are even protected. To pose another challenge, the data that you require may be available across multiple sites and categories. If you try to collect the data manually, it would be time-consuming, error prone, and not cost-effective. Also, the data is available in different formats that may not suit your needs and make it tough for you to compare, analyse, and make the correct decision.

Your organization requires verified and specific data for regular analysis at a predetermined frequency to ensure that you are make timely decisions. These decisions will have a direct impact on your sales and revenues.

By utilizing our web scraping services, you can extract useful data from multiple sites and categories. We also provide this information in a standard format that suits your needs. Web data scraping is a way to get the price related data so that your organization gains a competitive edge over your competitors.

To be a successful organization, you need innovative ways to collect the required data and present it effectively. We at ITSYS Solutions share our expertise and experience to help you get the required data in real-time that suits your specific requirement. This also provides you with competitive price intelligence data from multiple sources with 100% accuracy to ensure that you’re among the first to know about your competitor pricing and product changes.

Five Advantages Of Web Crawling For Manufacturers

The Internet, after the wheel, has been the most important invention in history of mankind. Just like all other sphere’s of our lives, it has disrupted barriers across trade & commerce and left web crawling technology and actively monitor prices of their products.

manufacturers with little or no control on the retail price of the product they manufacture. The ease of setting up an e-commerce / marketplace venture has increased retail competition and vastly improved availability and access to products across the globe. This increased retail competition has had both brick & mortar stores and online retailers slash prices often by sacrificing margins and at times selling the product below cost price. Such practices lead to negative opinion in minds of consumers as they tend to feel cheated by the manufacturer. To gain control and protect their brand, manufacturers can make use automated

An automated and managed price monitoring service will allow the manufacturer to 

1. Identify Sellers
On the Internet with marketplace model, there are thousands of sellers and it is not possible for the manufacturer to know all sellers. Our automated price monitoring solution allows the manufacturers to keep track of all sellers on multiple platforms.

2. Ensure sanctity of Minimum Advertised Price (MAP)
Many a times, manufacturers define MAP and trust sellers to respect this price. Unfortunately, MAP violations happen and products are under-priced to get volumes and sales. Such situations can be tackled by having an alert system wherein manufacturers are notified on MAP violations.

3. Monitor price wars
Manufacturers need to take control of price wars as that could result in loss of trust with sellers and Price monitoring service provides manufacturers the tools to ensure a level playing amongst sellers and avoid price wars.

consumers. A rogue seller who may have dropped the price below the MAP could force other sellers to drop prices too leaving the manufacturer no way to identify when and who dropped the price first.

4. Safeguard brand value
High variation of prices, negative feedback across distribution channels or grey market activity can inflict irreversible damage on the brand value of the product. By constantly monitoring products on the various online distribution channels and feedback platforms, manufacturer can take remedial corrective action and safe guard the brand value.

5. Strengthen business relationships
Enforcement of MAP by manufacturers promotes an environment of fairness and equality thereby strengthening relationships with seller and distributor networks. Swift action on violations also helps preserve brand image, boosts credibility and increases trust.

The automated and managed price monitoring service from ITSYS Solutions allows manufacturers to keep track of their products – both price and feedback across multiple online platforms and ensuring a healthy competition amongst its sellers without affecting their credibility. All this and more benefits at just $10/day (Conditions apply). For analyzing your products catalog, schedule a free demo by visiting us at website-scraping.com