How To Use Web Data Extraction For Market Research?
Web Data Extraction techniques are widely used to solve Market Research problems such as trend analysis, competition research and more
. Data Extraction applications are supposed to encompass all the known sources to offer very high level of data accuracy for the marketers. Technically it may involve generic Web harvesting tools to extract relevant data from web but manual or semi-automatic wrapper generators are also becoming increasingly popular.
Web data extraction techniques can be used to address advanced Market Data Research needs such as:
Define complex and parameter-based navigation tasks
Perform data cleansing for large volume of data
Process and analyze large amount of data in rapid turnaround time
Define data flow diagram for large number of websites and store results into warehouse
Present the output of extraction in form of proper dashboards
Market research refers extraction of relevant information for companys target audience, collected and analyzed for the purpose of definite business decision-making. This in turn helps in the formation of right marketing strategies and gain significant marketing intelligence. Web extraction envelops all aspects of market research that are related to web resources and related online database.
Today almost every mid to large business firms depend heavily on web market research for finding target audience, set competitive pricing and evaluate promotion media. For example, an electronics retailer may want to get a complete summary of the market in the form of a dashboard showing weekly or monthly data on price movements such as geographic demography, shipping costs, pricing trends and product mix variations by categories. An online travel portal providing best airfares may want to know at which prices the tickets they offer are sold over the Web by competition.
Technically speaking, all above mentioned applications demand management of massive amounts of web data from relevant sources in time-bound manner. This can only be accomplished by advance extraction tools, skilled professionals and complete focus on the objective set for your business.
For more information on Web data extraction email us at info@outsourcingwebresearch.com