How Price Monitoring Can Benefit Your Online Store 1

Competitor Price Monitoring

In the advancing world, there's a race to surpass the counterparts. And with the progress in technology, everything is going digital and online. Stores have gone online in order to reach a larger number of people in lesser time. Now, running an online store is not as easy as one might presume. It takes a hell lot of research, hardship, mental involvement and awareness of competition in setting a successful online store. A major part of this process is the study of the competitor's moves and then moulding our strategies into fruitful decisions. It's obvious that when we are amidst really fair and intense competition, where our competitors always try to hamper our growth by all means, it would be very unwise on our part to frame our strategies without knowing what's their in the opponent's mind. Here comes the role of the concept of price monitoring, a friendly venture and an easy go through into the opponent's territory.

'Competitor Price Monitoring' is a technological entity that aids online store owners to gain idea of the pricing factor of their competitors, saving tons of time usually employed on researching the same manually. Price monitoring is an essential aspect in the business online. Keeping an account of others's data and their analysis leads one to the knowledge of their position amidst the depth of competition and divert the strategies accordingly towards profitful directions.Also, one gets to know about new trends in the market that one might not be aware of, which might be essential in soaring the growth high.

As we know that today's business is more focused on increasing profits and the topic becomes the centre of the whole business plan.Here arises the need of researching the competitors's price factors for various products. To serve this purpose, ' Competitor PriceMonitoring' is used as it's handy and foolproof. In short, Price monitoring proves advantageous in raising profit margins as it provides data which one can rely upon. Once we have reliable data, we can set our plan of action which yields maximum efficiency. Apart from greàter profit yields, the practice reduces business risks, as our actions and plans would then be based upon modern trends and thorough knowledge of our competitors's steps.

In short, what is to convey is that it is intensely vital to remain updated about the ups and downs in the market, just for the cause of our business security and growth. Often, some people prefer traditional trends and as a result suffer setbacks in their businesses. The cause is the lack of awareness and deficiency of tactics in strategy. Thus, competitor price monitoring is truly a practice worth inculcating as it saves both time and energy which could be utilized in forming effective strategies. It's a matter of our progress and advancement and it's always good to move along with the world, without any lag.

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.

How to have best Web Scraping Solutions

With the changing era, the competition has grown and eventually the retailers are coming across various challenges. Today here in this article we’ll be focusing upon the requirements that a web scraping solution provider must fulfill. Accept it or not, you cannot compromise with your web crawling solution provider when it is about the strategy and moves for your business. Here we’ll be taking a sneak into those hidden secrets that will help you in selecting the best data crawling tool vendor. Let us scroll down to find those most important seven questions that you need to ask yourself before choosing a website scraping solution vendor for your retail business:

1- Did you check the specific Matching Capability?
Always remember that the dynamic scraping software vendor’s matching engine should be as good as you can have. The reason behind is that the accuracy of the competitors’ products and prices directly depends upon it. You need to be pretty sure that the tool that you going to have, avails the highest possible coverage.

2- Did you check the Expansion Capability of your Tool?
Beginning with products and competitors of smaller set is might be preferred by retailers in general.

With this I mean to imply that without any compromise with performance and quality more number of products can be compared. You need to keep in mind that in case of having masses in hand, and tracking those products and prices ranging to millions and billions; remember the scalability must not be compromised.

3- Quality assurance of Data Accuracy
Pricing of data needs to be accurate, slight up or down might invite instability. For this you need to be sure that the QA goes swiftly. Remember market is tough and rude; it never gives a second chance to correct the mistakes. The quality assurance checks based on human scales revolve on regular basis and they also assure the 100% accuracy.

4- Experience and expertise counts
Some people consider ‘web scrapping’ as simple website ‘scraping’ but wait, it isn’t so. You need to take it seriously and work over it with utmost dedication and should have a technical team that has enough experience to keep you in market. The structure of websites leaves a mega impact on them; this further brings in the challenge to perform extraction, web crawling and data analysis well. Also remember that all the matching engines aren’t same, a poor decision will bring in inaccuracy and incompleteness in data.

5- Can your system be integrated?
It has been noticed that there are retailers who integrate back-end systems with web scraping services. If you have a good set of Application Programming Interface code, the IT team might find easy to surf the monitoring tool at the back-end systems.

6- The money too keeps the importance.
Money is important when you talk business. Retailers have been seeing paying hundreds and thousands of dollars to have competitive pricing data manually collected or to combine manual data handling with scraping tools. The technology has further made the pricing data collection easier in comparison and moving further due to automation the cost reduced drastically. Thus you can now very easily find the web scraping services at a very low rate.

7- Did you know about SaaS?
Yes I’m talking about the Software-as-a-Service basis. You can find website scraping software providers these days which allow you to pay on a monthly basis for the subscription of service. Thus the beginning and growth is entirely in your hands.

Conclusion that concludes beginning:

Keeping the highest quality competitive pricing data and vendor will make pricing profitable, manageable and easier. So remember you need to have a competitive price monitoring solution provider with a flexible, technologically-swift and smoother work and can impeccably gather the statistical needs of the company.