Perfecting Dynamic Pricing through Scraping for Ecommerce. Price scraping parses real-time prices of products from thousands of websites & helps e-commerce businesses formulate pricing strategies, adapt to price variations, spot MAP Violations & analyze customer opinions.
The price sensitivity of customers has led ecommerce players to employ dynamic pricing to influence consumer purchase decisions and optimize revenue. This dynamism has made formulating a perfect pricing strategy through web scraping a necessity. 80% of respondents cited price as very important when it comes to shopping for a product onlineSource: Statista.com Price scraping uses crawlers to scrape prices and product catalogue information from the competitor website in real-time. This data then goes through a process of normalization, indexing, matching & formatting. So is scraping prices from websites that easy? Well, it is not as easy as it sounds. Celebrity or Social Message; Which One is A Quick Fix for Brand Promotions? There is a rising trend of brands instantly engaging star power to their products or services.
Michael Jordan endorsing ‘Air Jordan’ or Charlize Theron’s endorsing Dior or Rihanna promoting ‘Puma’ are classic examples. Partnering with a celebrity is one of the best ways a brand could reach varied audiences and strongly influence them to get associated with the brand. The crazy fan following of celebrities is infectious and thus attracting consumer’s attention is easy with renowned people endorsing it. Which Factors Influence The Purchase Decision of Your Customers? Understanding the factors influencing the purchase decisions of your customers is the key to a successful business.
How do customers decide what product or service to buy, & when? What compels them to select one company over their competitors? Product quality and seller reputation; is what most of you might think. It is very obvious. But imagine a scenario where product quality matches the customer’s needs and they trust the brand or the seller. Concerns with Dirty Data. How Data Visualization makes Company Data Work for You? Aggregation of raw unstructured data from corporate origins, company’s websites, social media channels, offline data or many other sources owes a potential to add value to organizations data base.
Failing to realize that they aren’t conveying crisp information but are just creating ambiguity for companies to gauge which data to be trusted and which shouldn’t. This scenario occurs because companies aren’t able to convey the right information in a typically single glance. Concealed under a large tabular form, there lies a lot of information which needs to be converted into actionable insights.
But deriving that insight is a challenge as companies are unable to connect the dots hiding behind thousands of rows and columns of data in their databases. The Ultimate Guide to Data Visualization. Market Intelligence: Everything You Need To Know. Market intelligence is also known as market and opportunity assessments, and is used to identify opportunities and risks so that businesses can understand the market prior to building or expanding their business; and also for operating it seamlessly.
Formulating a sound business strategy is central to the success of any organization. It is usually done through various business & marketing initiatives; market intelligence and market research are prime amongst them. As mentioned, these activities are purely data backed and hence, are only as good as the data used to derive actionable insights. Market intelligence uses information derived through effective collection of data then used to analyze behavior and sentiments to conclude with information pertaining to markets, customers or competitors. Information obtained through market intelligence helps organizations to make effective and efficient business strategies. “The purpose of information is not knowledge. External Sources. Retail Apocalypse; Data Driven Business Models are the Savior.
“Retail apocalypse” is the word that was in news entire last year.
Gigantic retailers like Toys “R” us, RadioShack, and Gander Mountain filed bankruptcy. In the year 2017 approximately 7,000 stores closed down, according to FGRT, which is more than 200% in 2016. Some of the sick stores are the retail chains which are dying off fast and have closure plans that date out to 2020. The retail apocalypse was inevitable. Data Cleansing Services: Data Validation & Data Enrichment Services Company.
Business enterprises largely rely on customer data that has incorrect, incomplete, inaccurate or irrelevant data points.
Our data cleansing services identify and rectify inaccurate or corrupt data, ensuring accurate customer information to drive successful lead generation / marketing campaigns. Data cleansing professionals at HabileData - one of the top data cleansing company in India, take up data cleansing tasks to de-duplicate, replace, correct, delete, organize, validate, modify, classify, and format data collected from across multiple data sources. Why need social media data? Social media data analytics forms a strong foundation for effective marketing campaigns.
It eliminates instinct based marketing. Businesses can now visualize how consumers feel, what do they talk and how do they interact with their brand. Social Media Data Analytics; A Navigational System For Your Company. Bid Good - Bye to Dirty Data. Data collection challenges in the eCommerce domain. Analytics Draws A Clear Line From Marketing Campaigns To Profits. Why more data does not guarantee better business decisions? Data collection and data storage is not something which can take companies miles ahead than the competition. Disconnected & fragmented data is something which cannot lead to comprehendible visualization of data, as they tend to reside in desperate segments and in a detached state or in isolated buckets.
Left disintegrated, fresh approach to turn it into cohesive and compatible data sets is an added challenge that companies are required to address. This is an effort to answer the usual question that with humongous data in hand, why is it that we keep on making bad business decisions. Retail Dashboards to Resolve Your Key Challenges. Unstructured Data: Everything Your Company Should Know About It. Click to learn more about author Chirag Shivalker.
Unstructured data, in its simplest form means “Data in any form which does not easily fit into a data model or belong to a dataset of database tables.” Unstructured data prevails in formats including books, audios, videos, and even collections of documents. Such unstructured data can be measurements of a building in the form of text, or chapters within a novel, or markup on an HTML webpage. Approximately 40% to 80% of any enterprise’s data is in unstructured format. No matter the actual percentage, there is little doubt that the amount of unstructured data continues to grow. Urgently Wanted – Leaders Who “Get the Data” So called data-driven organizations still struggle to manage large data sets a challenge? Organizations don’t need a lot of data; they just need the “right data.”
By Chirag Shivalker Companies and enterprises love to be called “data-driven.” Their business intelligence teams don’t refrain from including it in their strategy. But do they really know the meaning of being a “data-driven organization”? Though organizations succeed in generating and collecting a humongous amount of customer data, having big databases does not serve as the key enabler in making a business data-driven and digital. It’s a sad state that companies invest millions of dollars in building and managing large data sets, but Forrester research suggests that these organizations analyze only about 12 percent of this data, whereas the rest of the 88 percent of data lives in silos of systems and departments. Huge Data, Smart Data, Smart Visualization. Do You Speak Consumers’ Language?
Digital business is making a far-flung conversation between the poles of the globe, imposing them to speak a common language. Perhaps, there are experts who have researched and concluded that this transformation will happen and societal will have to adopt a common language giving native language equal importance. Well, studies show that organization’s, face concerns while doing business cross-border and the reasons are many and one of the major concerns is the English language barrier. What if brands choose a native language over English, will it make companies understand their customer in depth? Customer Data Analytics to Uberize Retail Landscape. Drones flying in the skies to deliver packages to customers, is how technology based on data and analytics is likely to impact retail industry and consumers both – in near future. New ways and means of understanding the customers are emerging and both, online and offline retailers are embracing this data first strategy.
Data Modeling - Turns Data into Opportunities. Companies always work religiously towards building an enterprise which is more than a business, and more of a living entity, always equipped for consistent and positive renewal and profitable growth. Business leaders are looking out towards building an organization which keeps on revitalizing to work in productive ways. They dream of an enterprise, where learnings from data analytics can be implemented without investing huge dollars in building data centers. Reports provide actionable insights and even foresight to orchestrate futuristic events. Machine learning and artificial intelligence are more than terms and amplify human imagination. The overall business comes up with constant change and dynamics, making it the strength to operate.
This is no fairy tale. Data Analytics Not A Luxury Anymore; It’s Gone Mainstream. Statistical Modeling; Selecting Predictors is a Challenge for Data Scientists. For statistical models, selecting those predictors is what tests the steel of data scientists. It is really challenging to lay out the steps, as for every step, they should evaluate the situation and make decisions for the next or upcoming steps. It is a completely different story when running predictive models, and if relationship among the variables is not the main focus, situations get easier. Data analysts can go ahead to run step-wise regression models, empowering the data to give best predictions. However; if the main focus is on answering research questions that describe relationships, it can give analysts a really tough time.
If they willingly ignore practical issues, it’s easy for them to use theory or test research questions. This is one way of looking at things. Descriptive, Predictive & Prescriptive Analytics will fail to Help You Understand Your Business. It has been a practice followed religiously by companies and organizations to analyze how they have performed over a period of time. Data Extraction & Analytics; Transforming Future of Retailers. Banks and Financial Institutions Fear Data Aggregators are Eroding Their Competition. Launched in 2007 as one of the very first online consumer platform that aggregated financial data from several different services, Mint.com succeeded in attracting more than 1.5 million users in just two years. Looking at its success, there were others who followed the footsteps and raised millions in venture capital targeting the investment end of the data aggregation spectrum and providing healthy competition to human financial advisors.
Though this success was the beginning, soon these data aggregators hit unprecedented roadblocks. Companies Don’t Need BIG Data, They Need Right Data. Click to learn more about author Chirag Shivalker. Customers are engaging with businesses through ever increasing touchpoints including websites, social media, in-store, mobile, and tablets. Organizations don’t need a lot of data; they just need the “right data.” 4 Ways to Create Unforgettable Data Visualization Story. Infographic: Why Outsource your Data Entry Services? - Top 7 Reasons. When to Categorize Continuous Predictor in a Regression Model? Research fields usually follow the practice of categorizing continuous predictor variables, and they are the same who mostly use ANOVA.
They often do it through median splits, the high value above the median and the low values below the median. However; this it seems is not that good an idea, and enlisted are some of the reasons to it: Using Social Media For Predictive Data Analytics Is In Its Infancy. Importance of Data Collection in Marketing for Growing Business. Outsourced data collection helps marketers meet the increasing need for personalization, and learn everything they can about their customers.
It is the only way marketing efforts of any company can succeed. How Data Visualization makes Company Data Work for You? Marketers Guide to Data Visualization. Predictive Analytics A Necessity, Not an Alternative. Advertisement As a customer, you receive an email or an SMS notification stating that the groceries are about to get over, and asking if you would want to order them. How the supermarket or the mall came to know about it? Well, they do not mind readers at least; instead, it is the predictive analytics which is being leveraged to process huge datasets. Analytics is Only As Good As Data Management. Why killer data-driven marketers opt for outsourced data collection? Outsourced data collection helps marketers meet the increasing need for personalization, and learn everything they can about their customers. It is the only way marketing efforts of any company can succeed. Unstructured Retail Data; A Structured Way to Get into Consumer Mindset. Customer shopping needs have grown significantly and so have grown their expectations.
Customer Data Collection Shapes Your Marketing Strategy. Marketers Guide to Data Visualization. Retailers Introvert at Collecting Customer Data Won’t Succeed. Marketers Guide to Data Visualization. Companies Don’t Need BIG Data, They Need Right Data. Case Study: HiTech BPO's Data collection solution to Real estate company. 4 Indications It’s Time Companies Should Dump Excel Reporting. 7 Data Cleansing Techniques help You Reach Target Audience - Hi-Tech BPO. How Data Visualization can Charge up Your Business Strategy. Are Retailers Reluctant at Adopting Data Analytics? Banks and Financial Institutions Fear Data Aggregators are Eroding Their Competition. 5 Benefits of Data Visualization - Hi-Tech BPO.
Data Radically Shifts the Way Oil & Gas Industry Approaches Operational Efficiency. Data and Analytics; Don’t Trust Numbers Blindly. Data Analytics Not A Luxury Anymore; It’s Gone Mainstream. Ask Smart Questions To Data Analytics And Grow Your Business. Key to Successful Data Analytics are Experience, Expertise and Clear Business Objectives. Data visualization; make insights come alive to communicate ideas simply. Visualizing Complex Data Sets; The Art Of Storytelling. Benefits of Web Scraping in Enterprise Growth. Customer Data Collection Shapes Your Marketing Strategy. Consider Predictive Analytics a Necessity, Not an Alternative. Data - The Valuable Asset Can Be A Toxic Liability To Brand Reputation, Revenue & National Security. Benefits of Data Visualization. Why Data Collection is so important for Marketing Firms?
Companies Don’t Need BIG Data, They Need Right Data. Managing Large Data Sets: Companies don’t need more customer data – they need the ‘right data’ Descriptive, Predictive & Prescriptive Analytics will fail to Help You Understand Your Business. Acknowledge Unsung Heroes of Marketing and Lead Generation. Ask Smart Questions To Data Analytics And Grow Your Business. Data - The Valuable Asset Can Be A Toxic Liability To Brand Reputation, Revenue & National Security.
Linear Models Don’t have to Fit Exactly for P-Values To Be Accurate, Right, and Useful. Predictive Data Preparation Makes Analytics A Success. Data Research: Trends & Impact on Real Estate Business Profitability. Data Cleansing Solutions that Grow Your Business. Benefits of Data Cleansing that Grow Your Business. Marketers Guide to Data Visualization.
Outsource Data Collection for Killer Data-Driven Marketing. Retailers Introvert at Collecting Customer Data Won’t Succeed. How Data Visualization can Charge up Your Business Strategy. 4 Ways to Create Unforgettable Data Visualization Story. Data Veracity, Bigger Threat than Volume, Velocity & Variety. Data Cleansing Services - Hi-Tech BPO. How to Design Effective Dashboards for your Business: 6 Best Practices. Consider Predictive Analytics a Necessity, Not an Alternative. Infographic: Why Data Cleansing is Important to Your Company? How to Design Effective Dashboards for your Business? Importance of Business Intelligence and Analytics in Retail Industry [Infographic] Importance of Data Collection in Marketing for Growing Business. How Companies Use Online Marketplace Dashboard to Gauge Performance?
Organizations don’t need a lot of data; they just need the “right data.” Improve business opportunities with client profiling. Market research & Assessment. Market Intelligence. Retailers can Rule the Market with Unstructured Data; But in Dreams. Benefits of Business Intelligence and Analytics in Retail Industry [Infographic] Why Statisticians and Market Research Firms Determine Sample Size Before Data Collection???? 5 Steps to Create Effective Customer Profiling [INFOGRAPHIC] Data collection for creating client profiles.