Web Scraping

Web Scraping deals with collecting web data and information in an automated manner. Basically, it is the extraction of web data. Web Scraping deals with information retrieval, newsgathering, web monitoring, competitive marketing and more. The use of web scraping makes accessing the vast amount of information online, easy and simple. It is a lot faster and simpler than manually extracting data from websites. Web Scraping is becoming more popular these days.

What are the uses of Web Scraping Tools?

Web Scraping Tools are used for a large number of purposes:

1. Data Collection for Market Research.
2. Contact Information Extraction.
3. Price Tracking from Multiple Markets.
4. Lead Generation.
5. News Monitoring.

Factors to consider before choosing web scraping tools

• Scalability: The tool you use should be scalable because your data scraping needs will only increase with time. So you need to pick a Web Scraping Tool that doesn’t slow down with the increase in data demand.?
• Transparent Pricing Structure: The pricing structure for the opted tool should be fairly transparent. This means that hidden costs shouldn’t crop up at a later stage; instead, every explicit detail must be made clear in the pricing structure. Choose a provider that has a clear model and doesn’t beat around the bush when talking about the features being offered.
• Data Delivery: The choice of a desirable Web Scraping Tool will also depend on the data format in which the data must be delivered.?

Applications of Web Scraping

Web scraping has a lot of uses, in reputation monitoring, data analysis, lead generation, research, and so on.

1. There is a huge demand for web scraping in the financial world. Text analysis tools extract data from business and economics news articles, and these insights are used by Bankers and Analysts to drive investment strategies. Tweets influence stocks and the overall stock market a lot. Information regarding that can be scraped from Twitter. Similarly, financial analysts can scrape financial data from public platforms like Yahoo finance and so on. All these methods are very helpful in the financial world where quick access to data can make or break profits.

2. E-Commerce websites use web scraping to understand pricing strategies and see what prices are set by their competitors. Analysts and Market Research teams use data from web scraping to drive the pricing models. This application is known as price intelligence. The data scraped, can be used to make better pricing decisions. It can be done through revenue optimization, competitor monitoring, price trend analysis, and so on.

3. Market research is also very important, and the data scraped can be used to optimize the offerings and product delivery strategy of a company. Also, the data can be used for various research and development purposes.

4. Text analytics of reviews and customer comments also helps E-Commerce websites in driving their strategy and methods. Such data can also help in planning the brand strategy of companies.

5. Now, the application we will be implementing is Content and News monitoring and sentiment analysis. News websites and content are scraped to understand the general sentiment, opinion, and general happenings.