What Kinds of Business Can Benefit From Web Scraping?

The amount of data on the internet is increasing intensively today. For example, Techjury analysts state that over 200 ZB of information globally will be kept in cloud storage alone by 2025. Thus, handling online data is becoming increasingly harder with each passing year. To simplify info processing, internet users worldwide employ web scraping services. And this is particularly true for company owners. So, let’s figure out what kinds of businesses may benefit from data extraction the most.

Web Scraping in the E-Commerce Industry

Success in the mentioned branch strongly depends on consumer preferences. That’s why e-store owners strive to get as much information about current trends among people from their TA as possible. So, numerous entrepreneurs globally collect data from different forums and social media communities related to the types of products they sell to achieve such a goal.

Is It Legal to Mine Information About Consumers’ Personal Preferences?

This question is quite complex. On the one hand, almost all countries worldwide protect their citizens’ privacy. But on the other side, authorities in some regions even allow collecting info from personal social media accounts. E.g., in the USA, the court enabled a company called HiQ Labs to mine info from LinkedIn.

Experts claim that extracting online user behavior data from third-party sources is mostly legal. However, it’s still better to use such info for making an analysis that won’t be published. Thus, you can employ the mentioned information to improve existing marketing strategies, enhance advertising campaigns, etc. Specialists also advise consulting with reliable web scraping service providers (like Nannostomus) in such cases to prevent trouble with the law.

How Effective Is Web Scraping in E-Commerce?

According to FinancesOnline.Com, 48% of companies worldwide improved customer experience using qualitative analytics on the preferences of their TA. This allows for enhancing consumer satisfaction. And Gartner, in turn, reports that customer contentment is so important that 81% of reputable marketers consider it the main competition area in the marketing sector nowadays.

Furthermore, 46% of businesses globally improved customer retention and acquisition using analytical reports based on scraped data. Finally, 57% of businesses began making decisions faster and more effectively by employing info about ongoing consumer preferences. That’s because the specified information enables you to understand current market trends much deeper.

Moreover, many companies have started leveraging company scraping APIs to gather real-time data on their competitors’ strategies and market trends, enabling them to make more informed decisions and stay ahead of the competition.

Web Scraping in the Legal Industry

Legal Industry

Lawyers typically collect information about complex cases they have to deal with. They also sometimes scrape info on legislative changes. Such an approach helps them better catch the sense of different amendments.

However, data extraction may even assist lawyers in proving their clients’ innocence in court. For instance, in Germany, a defendant was justified because a lawyer scraped GPS tracking data from the plaintiff’s smartphone. So, it was proved that the accused existed far from the crime scene at the time of the offense.

Web Scraping in the Financial Sector

Financial Sector

Investors receive the following advantages using information mining services:

  • possibility to make predictions based on more accurate info;
  • ability to quickly track the latest news;
  • opportunity to get information about expected asset rate shifts faster.

Additionally, traders often choose brokers to cooperate with by collecting data about them.

The Takeaway

Web scraping services are incredibly popular among business owners across the world. This is particularly true for those having financial, commercial, and law companies. Experts recommend getting details on features of collecting data for different businesses by contacting proficient professionals (for example, at nannostomus.com). This will help you avoid legal problems.