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Effectively Boost Your Retail Business with Data Scraping

Effectively Boost Your Retail Business with Data Scraping

Data, data, and more data! Sales data, customer data, and product data are what online retailers rely on to be price competitive, reach the right customers, and maintain a healthy margin. The good news is, data is everywhere, but how it is acquired and applied is what makes all the difference. Retail companies utilize a process known as website data extraction to obtain data from a multitude of data sources for processing, migration, and analysis. Once data is acquired by a website data extractor, usually from websites, emails, documents, forms, PDF’s, scanned text, databases, etc., it is imported into an extracting system before being processed and exported to the next step in the warehouse data workflow, or transformed, where it can be merged with relevant metadata. After this transformation bit, the data is then used for generating marketing and sales leads. Price scraping Pricing products for an optimal price margin means steadily having to adjust and reconsider one’s pricing method according to trends in the marketplace, customer activity, stockroom levels, etc. While some of the grounds on which prices are structured is based on internal factors, the figures charged by competitors for comparable products strike a massive impact on the sales quantity and profit margin to be realized by the retailer, and are commonly acquired by a data extraction and monitoring method called price scraping. Price extraction processes allow retailers to compile, extract, analyze, and apply this information in useful ways which permit a more efficient analysis of market conditions, like product abundance, customer demands, and competition. This allows the merchant to determine where to apply the most advantageous price point almost or actually...