Is It Worth Collecting Data From Websites to Conduct Competitive Intelligence?

The global competitive intelligence industry is overgrowing nowadays. Fortune Business Insights claims the mentioned sphere will rise by more than 9% annually by at least 2030. Such an intensive development is because numerous businesses worldwide have advantages using CI.

Some experts, however, believe competitive intelligence may be effective only if you employ web scraping bots made by trusted companies (such as Nannostomus) within such a process. So, let’s clarify if it’s really necessary to collect data from website storage when doing CI.

Benefits of Web Scraping Usage Within Competitive Intelligence Conduction

It’s much quicker to collect data from website storage by employing specific software than using the services of live specialists. The volume of work, real-life employees will perform over several days, info-extraction bots may process in a few minutes. Furthermore, such robots may operate round-the-clock, unlike live specialists.

Low Risk of Making Mistakes

Real-life employees tend to get tired. That’s especially true for overloaded staff. Exhausted specialists, in turn, are likely to make mistakes as a part of their work. Consequently, the quality of the analysis reduces significantly. As a result, a competitive intelligence report delivers you wrong information and conclusions about your rivals.

On the other hand, web scraping robots always operate strictly according to the set configuration. This eliminates the probability of committing an issue. So, you receive comprehensive reports with well-researched info in such a case.

Is It Expensive to Collect Data From Website Storage?

The price of the creation and maintenance of a web scraping robot is essentially lower than the salary of an experienced live analyst. Averagely, entrepreneurs spend starting from $90 monthly on servicing online information extraction software. On the other hand, according to Glassdoor, one inexperienced analyst earns up to $4,600 per month.

Lacks of Using Web Scraping Apps in CI

Some websites block data mining applications as they consider them harmful. So, you can’t collect info in this case. The problem can be solved easily, though. You should employ a proxy server to eliminate blocking. Also, fewer online platforms are considering web scraping bots suspicious, as such applications are becoming increasingly popular worldwide. The other cons are:

  1. The necessity to learn how to properly set scrapers. Their configuration, however, is not more complex than car servicing.
  2. Risk of being penalized for data extraction. Avoiding collecting private details is enough to avoid law troubles, though.
  3. Risk of being considered a hacker. However, the latter is only about those setting their bots incorrectly. So, web scraping apps just shouldn’t send too many requests at a time.

Entrepreneurs may escape all the mentioned problems if they cooperate with trustworthy IT platforms, like

Wrapping Up

Business owners may significantly improve the efficiency of CI conduction using web scraping software. Data extraction bots allow you to decrease corporate spending, save time, and improve the quality of info analysis. The described apps also have some flaws. However, addressing the shortcomings is quite easy. Moreover, experts advise cooperating merely with reputable web scraping companies. That’s due to dubious firms often proposing low-quality services at high prices.

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