Data is the most important resource your corporation can use to further develop its products and services, to increase its competitiveness and ultimately revenue. It’s easier to make informed decisions when you have access to large amounts of relevant data. Most corporations require market research to make better choices, optimize offerings and push research and development efforts.
As the competitive landscape grows, it’s important to stay ahead and have an advantage over your competitors. Using web scraping, you can have access to big data from markets and competitors, which can be used for research, analysis, monitoring, evaluation and development.
In this blog post, we will discuss the benefits of using web scraping for enterprise market research, different use cases of market research, and how ParseHub Plus can help you with your market research!
Benefits of Web Scraping For Market Research
It’s no surprise that manual data entry and old-school market research can be tedious and exhausting. Why waste employee resources, company time, and dollars, when you can get software to efficiently scrape large amounts of data for you? Web scraping is a tried and tested method of gathering big data for small, big and enterprise businesses.
Here are some of the benefits of using a web scraping tool for your corporation:
Speed
Getting thousands of pages of data can take weeks, months or years for your employees to follow through. With a web scraper, you can easily scrape thousands of pages a day, depending on the efficiency of the software. ParseHub Plus enterprise clients get over 40 to 50 thousand pages of scraped data a day!
Accuracy
Web scraping allows you to get accurate data, as long as you’re scraping from reliable sources. When humans manually extract and enter data, there is a lot of room for error. It’s not their fault, it’s a boring task, which can cause a lot of mistakes! ParseHub Plus ensures 100% accurate data for enterprise clients, by testing data with custom scripts before it’s used in applications or analysis.
Reliability
When it comes to big data, having reliable and consistent data is pivotal. Well-developed web scraping tools allow you to gather data without having to worry about blocks or crashes. In fact, ParseHub Plus enterprise clients have a dedicated manager that takes care of all roadblocks, such as a website’s design changing.
Here are some ways market research can be used with web scraping:
1. Competitor Research and Analysis
Web scraping can be used to scrape large amounts of data from all your competitors, or from a certain industry. With big data, you can get insights about your competitors, such as what they’re doing better and how you can get an advantage over them.
By consistently monitoring your competitors, you can maintain your position in the industry, and even improve it. ParseHub Plus ensures accurate and complete competitor-researched data which will give you an advantage, will help you outperform your competitors and will make your business more profitable.
2. Monitoring Prices and Trends
Your corporation can scrape large amounts of financial data, prices and trends, not only from competitors but also from local and or global markets. By scraping prices, you can analyze the data to deploy various strategies, such as competitive pricing or predicting future market trends in relation to your business.
By predicting future trends using machine learning, your corporation can stay ahead of the curve and become more innovative and competitive in its industry. Furthermore, by having access to a wide selection of prices, your corporation can adjust and monitor prices to remain competitive.
3. Sentiment Analysis
Scraping and analyzing what people are saying about your business or brand is another important use case of enterprise market research. Many corporations do this for a number of reasons, such as ensuring their new products or services are being well received.
By analyzing social media and sentiment, you can gauge your marketing efforts, and even strategize how to move it forward. ParseHub Plus helps enterprise clients listen in on what consumers, customers and critics are saying about their products and services.
Concluding Thoughts
Market research is a growing field since companies are getting more competitive and consumers are becoming more aware. With the growing need for accurate big data, tools such as web scrapers are being used to harvest data from all over the internet. Web scrapers such as ParseHub allow you to get reliable, accurate and speedy data, without having to code your own scripts! Some use cases for market research are competitive analysis, monitoring prices and trends and finally analyzing sentiment.
There are many obstacles your corporation may face when scraping large amounts of data, which is why ParseHub Plus takes care of all your enterprise web scraping needs, in a directly managed and daily-monitored manner.
If your business needs accurate big data for market research, or any use case, visit ParseHub Plus to book a call and get your free data export!
Happy Scraping!
