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Business intelligence is not a new term. Businesses have always been employing experts for analyzing the progress, market, and industry trends to keep their growth graph going up. Now that we have big data and the tool to gather this data – Web scraping, business intelligence has become even more fruitful. Business intelligence has become a necessary thing to survive now that the competition is fierce in every industry. This is the reason why most enterprises depend on web scraping solutions to gather the data relevant to their businesses. This data is highly insightful and dependable enough to make critical business decisions. Business intelligence from web scraping is a game-changer for companies as it can supply relevant and actionable data with minimal effort.
Most businesses have weak spots that are being overlooked or hidden from plain sight. These weak spots, if left unnoticed can gradually result in the downfall of your company. Here is how you can use data acquired through web-scraping to detect weak spots in your Business SWOT Analysis and strengthen them.
Competitor analysis
Many times, you can find out the flaws in your Business SWOT Analysis by keeping a close watch on your competitors. Competitor analysis is something that we owe to web scraping as the level of competitive intelligence that you can derive from web scraping has never been achievable in the past. With crawling forums and social media sites where your target audience is, you can easily find out if your competitor is leveraging something you have overlooked. Competitor analysis is all about staying updated to every action by your competitors so that you can always be prepared for their next strategic move. If your competitors are doing better than you, this data can be used to make a comparison between your business and theirs which would give you insights on where you lack.
Brand monitoring on Social media
With social media platforms acting like platforms where businesses and customers can interact with each other, the data available on these sites are increasingly becoming relevant to businesses. Any issues in your Business SWOT Analysis operations will also reflect on your customer sentiments. Social media is a goldmine of sentiment data that can help you detect issues within your company. By analyzing the posts that mention your brand or product on social media sites, you can identify what department of your company is functioning well and what isn’t.
For example, if you are an eCommerce portal and many users are complaining about delivery issues from your company on social media, you might want to switch to a better logistics partner who does a better job. The ability to identify such issues at the earliest is extremely important and that’s where web scraping becomes a lifesaver. With social media scraping, monitoring your brand on social media is easy to like never before and the chances of minor issues escalating to bigger ones are almost non-existent. Brand monitoring is extremely crucial if you are a business operating in the online space. Social media scraping solutions are provided by many leading web scraping companies, which eliminates the technical complications associated with the process for you.
Finding untapped opportunities
There are always new and untapped markets and opportunities that are relevant to your business. Finding them is not going to be an easy task with manual and outdated methods of research. Web scraping can fill this gap and help you find opportunities that your company can make use of to leverage your reach and progress. Sometimes, targeting the right audience makes all the difference that you’ve been trying to make. By using web crawling to find mentions of your relevant keywords on the web, you can easily stay updated on your niche and fill into any new untapped markets. Web crawling for keywords is better explained in our previous blog.
Bottom line
It is not a cakewalk to stay ahead in the competition considering how competitive every industry has become in this digital age. It is crucial to find the weak spots and untapped opportunities of your Business SWOT Analysis before someone else does. Of course, you can always use some help from technology when you need it. Web scraping is the best way to find and gather data that would help you figure these out. With web crawling solutions that can completely take care of this niche process, nothing is stopping you from using the data and insights that the web has in stock for your business.
Stay tuned for our next article on the technologies to master if you want to crawl the web.
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