Why the Automobile Industry Should Make Use of Data Extraction Services in 2019
The world economy suffers uncertainties and crises from time to time, however, there’s one industry that is constantly growing despite all the fluctuations: the automobile industry. The past decade was very successful for the automobile industry, and it’s been growing at rapid rates during the recent years as well.
Let’s consider some stats from all over the world. Global sales are growing at around 2.8% worldwide per year. According to predictions, there will be over 100 million automobiles sold by 2020. Most of the growth will come from China, but North America and Europe are set to see significant growth rates too. And South America is set to outstrip North America and reach a consistent growth rate of 1.7%. According to NADA, since 2018, in the US only more than 8.6 million light-duty vehicles were sold by 16,704 franchised dealers. New vehicles’ sales have gone above $500 billion.
But we need to consider that as the industry grows, so do the challenges it faces. The automobile sector is now facing new and pressing challenges in the face of globalization, digitization and increasing competition in the market. The size of the company is not a guarantee of success anymore. Only those companies that find new innovative techniques to create value can prosper in the future. Data scraping can help the automotive industry in finding new innovative solutions and also get ahead of the market trends. In this article, we’ll discuss the benefit of web scraping in the automobile industry and explain the importance of using data extraction services to get ahead of the competition.
Importance of Data Collection in the Automobile Industry
Data scraping or web extraction is the process of collecting data from the web. It is currently the most efficient solution to data harvesting. The internet is huge and it is nearly impossible to collect information manually, hence the benefit of using data scraping services or extraction tools. The growing digital world carries a lot of real and fake data so it can be hard to filter information from authentic and reliable web sources. Data extraction services deal with this problem too and provide you with reliable and relevant data.
It is especially hard to dig data from booming sectors that are overloaded with data, such as the automobile industry. The web carries so much powerful and important data for your industry that can make you excel over the competitors and get new insights into the markets. As the automotive sector expands into new geographical areas, it’s important to analyze the new markets, customer preferences, and get data on the distributors, in order to capture the market. Data scraping can help with trend analysis and guide your enlargement journey. There is so much data that web scraping can help you get to get ahead of the market and improve your current business. Keep reading to find out the type of data you need and can get for the automobile industry with the help of data scraping.
Data You Can Get with Data Extraction Services For Auto Sector
The main purpose of data scraping is to get an automobile industry overview and do analysis based on the extracted data. Below are the types of data you can get with web scraping for the automobile industry.
A good company always keeps up with consumers and tries to fit their preferences. The web is a perfect place to find out consumer preferences. You can scrape the web to find out your consumers’ wants and needs. It will help you stay innovative and come up with efficient market solutions. You’ll be able to analyze your customers’ habits and buying power to develop specific financing programs for them. The growing volume of data can be used along with manufacturing and development data, and bring a huge value for those working in the automobile industry.
Another way to leverage the power of data scraping to get more insight into your current and potential customers opinions is to collect reviews from the web. Nowadays, the internet is a great platform where people can express their opinions and share their likes and dislikes. It’s a powerful tool in the hands of the business! You can scrape hundreds of websites to collect reviews about your brand or company, see what people say about you, how they rate you, spot new areas of improvement, and find out what is your strength in the industry, meaning what people love the most about your automobile company.
Any competitive industry undergoes trends that change very fast. As the automobile sector is growing so fast, the trends of the market keep changing at the same speed. One way to keep up with the trends is to use data scraping services. Web scraping is already well-used technique by many industry experts for predicting trends. So it can really help gear up the automobile industry. The regular collection of data of a relevant field is guaranteed to help you spot trends. When you have data, you can analyze it and find specific patterns that lead to specific events. What makes the prices change? When do the sales boom? When your competitors come up with new products/deals? All these questions have specific answers that are not based on coincidence. Predictions of trends based on data analysis is a part of predictive analysis, which we’ll cover in more depth in the next sections.
Data scraping can help you create a competitive pricing strategy. Firstly, you can’t set a winning price strategy if you don’t follow the industry trends. So when tracking trends with web crawling, make sure that you scrape pricing trends too. It’s essential to identify the pricing behavior and user interaction of products. Data harvesting and online price scraping are an effective way of identifying pricing trends that are competitive. In the automobile industry, keeping your eye on the price fluctuations and tracking pricing trends is extremely important to stay competitive.
How to stay competitive in a field, except for tracking trends and prices? Of course by tracking the competitors and their feedback. Data scraping can help your automobile business in the competitor research process. You can scrape automobile industry data and find out your competitors strengths and weaknesses based on the reviews left by their customers. This is a widely spread practice that helps gain a competitive advantage.
Automobile Dealer Data
If you are entering a new market, you need to find dealers who will present your brand and sell your cars. Web scraping can help you with that also. You can scrape auto websites that have information about different dealers. Data scraping companies can scrape the data and deliver it in sorted categories, such as price, reviews, number of years in the market, status, who they worked with, etc. You need to be very careful when choosing your dealers because they will significantly impact your brand image. So regardless you’re entering a new market, enlarging, or simply looking for replacements, you need to scrape dealers’ data and make a thorough analysis.
New and Enhanced Design Ideas
Web crawling and data extraction will also help automobile industry companies with their new vehicle designs. When you scrape customer preferences and reviews, you’ll get a better idea of common customers’ requirements and wishes, which will guide your vehicle designing process. Every part of the vehicle can be improved and modified according to the customers’ wants and needs. With the help of data extraction services, you can get information from sources like vehicle sensor data and customer sentiment data. Every single feature of your future cars can be improved by technicians according to customers’ will.
Other Areas of Automobile Industry
When we talk about web scraping for automobile industry analysis and overview, we shouldn’t be limited to vehicle companies only. There’s so much more to the industry. There are websites for automobile dealers and automobile sales, apps for store locations, car review websites, etc. All of these can use web scraping to benefit from the data that is available all over the web.
Predictive Analysis Using Automobile Industry Data
Data scraping can be used for two main purposes: description and prediction. We have covered the descriptive part: you must now have a solid understanding of how you can describe certain behaviors and facts for improving and analysis. However, we have only roughly talked about the predictive part. Data mining is a whole science that revolutionizes the way businesses work. With the help of web data scraping, you can create predictive models that will guide your future steps.
The predictive modeling is the most important sub-field of data mining. It is a combination of statistics, machine learning, and pattern recognition, and its main target is the prediction of future probabilities and trends. This might seem too hard and boring, but it’s the most precious part of web scraping! Some statistics and data can help your automobile business to a completely new level. Data makes you empowered with the treasure of knowledge that can guide you through the path to success.
The data you collect can be used in predictive analytics during the building process, in order to enhance the manufacturing simulation making the next assembly line more efficient and flexible. Also, as we have already mentioned, data extraction helps to understand future trends of the industry and act accordingly. However, most importantly, when it comes to predictive analysis, web scraping helps automobile makers and technicians to discover faults faster than ever before. In the competitive world of the automobile industry, a small error can cost the whole reputation. With so many competitors, there is no right to have a fault because you can easily be replaced. So during the building process, predictive analysis can help identify errors before systems malfunction, optimize the service process and help drivers from fatal accidents.
Web scraping and data extraction can help the automobile industry in many different ways, from collecting insights into customer behaviors and preferences to analyzing the data to build a predictive model for future trends. The automobile industry players and experts will have to use data scraping services sooner or later if they want to stay or become a big player in the industry!