Data is one of the hottest commodities in the business world. For retailers, this is especially true when it comes to pricing data.
Having thorough, up-to-date intel can set one brand apart from the rest and allow them to make important decisions that get a leg up on the competition.
Pricing data can be gathered from a multitude of different web locations—competitor websites, social media, Google ads, etc. And there are a few different ways that brands can get their hands on it.
One popular way of gathering data is through the use of web scrapers, which extract data and content from chosen websites.
But Wiser has another solution for you—Price Intelligence. So, how do these compare?
What Are Web Scrapers?
Web scraping, also referred to as data scraping, data extraction, or web harvesting, is a method of gathering data using bots. This scraped data and other content is then compiled into spreadsheets or an API for analysis.
Web scrapers basically function as a copy+paste of information. The draw is that they can perform this job quickly and automatically.
Businesses usually use web scrapers to track all relevant information in their field—such as prices.
What Is Wiser’s Price Intelligence?
Wiser Solutions offers a product called Price Intelligence that has similar capabilities to scrapers, but there are added features that can help your business flourish even more.
Price Intelligence works using three simple steps:
- First, tell us what you want monitored. This can include a list of competitors, SKUs, or marketplaces that you want to keep track of. You set the parameters.
- Next, we collect your data for you. Wiser’s platform is constantly optimized to deliver only the highest quality results.
- Lastly, we provide you with actionable insights. With Wiser’s Price Intelligence, you’ll have access to a dashboard of data visualizations and competitor insights across multiple marketplaces.
Many brands use Wiser’s Price Intelligence product to keep an eye on the competition, measure results, and monitor pricing trends.
Web Scrapers vs Wiser Price Intelligence
So, how do web scrapers and Wiser’s Price Intelligence product stack up?
Some brands might prefer to use pre-made web scrapers if the data they need isn’t very complex or complicated. In these cases, the highest priority is usually automation, and that can be gained using either type of product.
However, any brand with plans to grow and remain competitive in the retail market has a higher chance of success with a product like Wiser’s Price Intelligence. With this software, you can view all historical data from your own catalog as well as competitors, helping you to increase your margins, drive sales, and do so much more.
Other Data Scraping Options
Some brands choose to DIY their own web crawlers in-house. And, while this option does provide an excellent level of customization, it comes with its own myriad of disadvantages. For example:
- Higher skill-level requirements
- Larger developmental and operational costs
- Minimal access to historical data
With these disadvantages, your teams would have to take time away from other business efforts in order to develop and update your crawler. Most of the time, this amount effort is not worth the time and money for the capabilities that DIY web crawlers offer.
If you’re concerned about finding a tool that allows you the right amount of flexibility, do your research into different products. Options like Wiser’s Price Intelligence offer scalability and customizations that can adapt and grow to meet your brand’s changing needs.
How Should You Track Prices?
Better data means better decisions.
Now that you have a better understanding of what web scraping or Wiser Price Intelligence can do for you, you can make an informed decision on how best to gather data for your business.
Choosing Wiser means you’ll have access to actionable data, so you can set your prices optimally and watch the sales roll in.
Visit Wiser.com to get started today.
