Modern businesses know that monitoring competitors and tracking market pricing information are some ways to maintain competitiveness.
Additionally, the ability to determine the appropriate pricing at the right time is advantageous, especially in today’s evolving and fast-paced world.
One way to effectively and efficiently gather this information is by scouring the internet through web harvesting.
This article discusses what web harvesting is and how it can benefit your business regarding competitor monitoring.
What Is Web Harvesting?
Web harvesting is a method of extracting data from the internet. Sometimes called web scraping, this method uses software that automatically captures data from various websites and stores the data in a database or spreadsheet for further analysis.
Through web harvesting, you can analyze the performance and status of your competitors and compare them with that of your business.
Essential information like public announcements, career opportunities, and new product offers are posted online by other businesses. The data they represent can affect your market position, and web harvesting can capture the information efficiently.
Consumers are sensitive to price-related issues. This sensitivity is manifested when consumers go to a physical or online store to check and compare prices from other shops.
Consumers have the power to look or bargain for better deals. You can use web harvesting as a tool to keep your prices competitive and attract an even larger market.
The internet stores information you can use to boost your competitiveness. Without the capacity to effectively capture that vast amount of data, you may find your business getting left behind.
Competitor information you acquire through manual means may take a significant amount of time to compile, however. By the time you finish, that information may no longer be relevant.
Web harvesting can help with this issue by automating the process. Information that may take days to compile manually now only needs a few seconds or minutes to complete.
Web harvesting may be done in-house or through an agency. If you have the resources to manage a web harvesting operation, consider investing in a managed security appliance to ensure you can scrape the web securely.
Although web harvesting may benefit your business marketing, pricing, and sales, not all businesses are capable of web harvesting for capturing pertinent information online.
One solution for these companies is to seek professional help from agencies specializing in web scraping or online data extraction.
How Web Harvesting Contributes to Competitiveness
With the speed at which information is posted and updated online, web harvesting provides you an opportunity to acquire that information in real-time. This capability allows you to make decisions and adapt to changes early.
For example, you can make the appropriate pricing changes or offer online promotions to improve your market share by analyzing your competitor’s prices.
Web harvesting also allows you to expand your distribution channels and identify problems early on, such as inventory shortages and surplus.
Other data you can capture through web harvesting includes online reviews, opinions, and social media comments. The information you can gain from these data can help you improve your products or services, thus lessen your stress and improve your productivity in doing the work.
Additionally, by enlisting the help of professional web harvesting services, you can receive a detailed report of the web scraping activity from those services.
Some agencies providing professional web harvesting services can supply your business with data related to a competitor’s price, inventory, shipping, reviews, and environment.
These data can then be put together in a comprehensive report so you can analyze them and make decisions.
Obtaining access to a large pool of information through the internet gives you an advantage over other businesses. With web harvesting, you can acquire this information quickly so that you can promptly make relevant decisions.
Ask an IT expert for more details on web harvesting. You can also inquire with a marketing agency specializing in web harvesting to determine if web harvesting is an appropriate solution for your business needs.