There’s a vast amount of information out there on the Internet. Extracting and aggregating data from public-domain websites and other digital sources - also known as web data scraping - can give you a significant business edge over your competitors.
Data extracting generates insights that can help companies analyze the performance of a particular product in the marketplace, track customer sentiments expressed in online reviews, monitor the health of your brand, generate leads, or compare price information across different marketplaces.
It also gives researchers a powerful tool to study the performance of financial markets and individual companies, guide investment decisions and shape new products.
There are many non-financial uses for data extraction, such as scraping news websites to monitor the quality and accuracy of stories or to monitor trends in reporting. It’s also used to obtain information from public institutions, for example, to track contract awards and hence investigate possible corruption.
Data extraction can significantly streamline the process of getting accurate information from other websites that your own organization needs to survive and thrive.