Competition in business gets tougher every day. In this regard, there are many innovative ways to stay relevant in the industry and spearhead business growth. Among those innovations is web scraping, which helps to gather useful data and gain insights about product performance, also known as product performance.
But before we dive into product intelligence, let us first understand web scraping and how it works.
What is Web Scraping?
It is the process of extracting relevant data from a particular website using an application or a web scraping tool. Web scraping plays a critical role in data-driven businesses.
But for web scraping to be effective and provide useful information, it needs good proxy support. In simple terms, proxies are like gateways through which your browsing requests go first while retrieving information.
For example, when you are scraping, a proxy receives your request and either draws a response from a local cache or forwards it to the relevant server. The proxy then sends the request back to you with the information you are searching for. A good proxy will, therefore, determine how effective your web scraping project will be.
So, what is Product Page Intelligence?
Have you ever wondered what a certain product is still doing on the shelf? Perhaps it is no longer appealing to the target customers or it is outdated?
This is because the manufacturers of such a product do not assess its performance. Product page intelligence is an automated way of gathering and analyzing information about the performance of a product.
As mentioned at the beginning of this article, no business can ignore its competitors. Product page intelligence includes collecting necessary information about your competitors.
Therefore, web scraping is a solution for collecting product intelligence.
What Kind of Information does Product Page Intelligence Collect?
The internet is overloaded with information about everything. Businesses must have clarity on the precise information they are interested in and the specific page they would like to extract information from.
The most common data that businesses collect about products is pricing information. This data improves their pricing strategies because companies can constantly compare prices with similar products in the market. If you are interested in a price scraping solution, you can find more information on Oxylabs webpage.
Below is an example of the kind of more information product page intelligence can reveal.
- Product availability
- Product demand
- Competitor moves
- Stock status
- Consumer behavior
These are just but a few examples.
What are the Advantages of Product Page Intelligence to a Business?
So, what next after gathering and analyzing data about your product? One of the ways to make information profitable is product development.
It is important to remember that 80% of new products stay on the shelves for less than one year. However, harvested intelligence can be organized and used to improve these statistics and fill any existing and projected gaps.
Product Intelligence as a Key Differentiator
The ability for a customer to find and buy your product is critical in business.