Social Media Monitoring

 

Social media monitoring in the general sense refers to the method of utilizing of various devices to pay attention to what is the topic being discussed over the internet and monitoring and controlling media not only from the

conventional publishers but on a million of different social networking sites. The practice of social media monitoring is at times also called or related to the terms social listening, buzz analysis, online analytics, social media intelligence, social media measurement or even social media management and the list can go on.

 

Reasons for Social Media Monitoring

Social media monitoring or social media analytics were previously applied in quintessential sector of companies such as the finance or retail industries who used social media monitoring to make sure to create brand awareness, improvement of customer services, marketing planning along with the detection and recognition of fraudulent. Apart from the mentioned reasons there are a few more causes which gets benefited through the social media monitoring which includes:

 

  • Measurement of Customer Sentiment

Social media monitoring helps an organisation to know about the position they hold in the social space and also gives a reality check. Through study of the social media one can assess the outlook of the customers regarding a particular product or topic and the viewpoint about the company as a whole by the measurement of their emotions, tone and context. Keeping a track of the customer reviews help the company to grow and maintain customer satisfaction, loyalty of the customers regarding the particular brands as well as their purpose of relation which would further help in the marketing of the campaigns at present and also in the future.

 

  • Segmentation of the Selected Market

The selected market refers to the bunch of customers which includes organisations, individuals or even households for which a particular company or organisation make designs, execute and preserve the mix of marketing procedures which suits the requirements and fondness of that particular bunch. Organizing and assessing the data set of social media platform makes a person aware of when and to whom the marketing should be done regarding their services or products. Recognition of more suitable market field helps in the increment of the return on investment.

 

  • Monitoring of Online Branding

Monitoring of the online branding doesn’t only refer to paying attention to what the customers have to say regarding the particular products and services of the company but also keeping a check on the various competitors in the field, the press and media along with the say of the key opinion leader of the industry. It is not only concerned about just the products of a company but also their customer service management procedure, social engagement, etc.

 

  • Recognition of Market Trends

Recognition of the various trends in the existing market is important to modify the business planning, keeping the business in the similar rate with the forthcoming changes in directions in the particular industry.

Other than the instinctive internet scraping devices, in the present times a lot of social media channels provide reimburse application program interface to its customers, research individuals, academia and particular organisations such as Facebook and Twitter in the social networking domain.

ITSYS Solutions Provides Quality Web Scraping Services with Customer-Focused Approach

 

 

11th September, 2019 – ITSYS Solutions, a software services provider has created a niche for itself by specializing in web data scraping, that it offers as a fully managed service.

The organization was founded on the philosophy that IT is a tool to comp­­­­lement existing business practices and best desired solution can be provided only by understanding the client’s requirement gained through a comprehensive discussion. The technical team, headed by its founder who himself has over 20 years of experience in programming, conducts brainstorming sessions with the clients to identify the exact requirements so as to deliver a solution that is not only cost-effective but can also be used without making changes in existing work processes. The management believes that its success lies in its customer’s success – so, if the customer succeeds ultimately it will succeed.

From its inception in 2007, it focused delivering niche solutions that involved API integration from multiple providers such as hotel / airline search and reservation system for travel agencies, domain search & registration with instant creation of shared hosting, etc. The data required for the ongoing projects was available on the web and in order to fulfill the project requirements, it took to web scraping. With big-data analysis gaining the buzzword and more and more businesses requiring data from the web for various purposes, the management was quick to seize of this opportunity and shifted the focus on development and management of databases by scraping data from the web.

For the uninitiated, Web Scraping is a technique to simulate the behavior of a web site user and capture large amounts of data from the website and store it in a structured manner (as a database, excel, CSV, TSV etc.) for further use. Web scraping is typically used for ‘competitive & pricing intelligence’, ‘retail & distribution chain management’, ‘financial & market research’, ‘sales intelligence’, ‘news & content aggregation’ and ‘compliance & risk management’.  Search engines like Yahoo, Google during their formative years used to scrape data from web to build their databases for search. Google still makes use of bots that crawl websites and track changes to keep its search database current.

Over the years, from being provider of custom IT solutions, the company started focusing on providing web scraping service and has since emerged as one of the best & most cost-efficient fully managed service providers for scraping data from websites / mobile apps. As a managed service, the clients need to specify only the websites from which data is needed, the data points along with the output formats and frequency. The highly experienced team of software developers who cumulatively have more than 25 years of experience in scraping, create scripts that can anonymously and non-intrusively, capture data from the web and deliver it as per specifications. It currently provides its web data scraping service to wide spectrum of businesses such as Tire Distributors & Retailers, Aftermarket Auto Parts Manufacturers and Retailers, Fuel Distributors & Retailers, News & eMedia Monitoring, Travel – Airline, Cruises, Hotels, Cars and Vacation Rentals, Marketplace platform vendors & merchants, etc.

 

Retail And Distribution Chain Monitoring

 

Web scraping helps businesses to increase their efficiency in the monitoring of retail and distribution chains. It can be used to extract large amounts of data from websites. The data is extracted and then saved as local files on computers or in databases. Due to this nature of scraping, it is useful for gathering information regarding the retail and distribution chains. Web scraping software can automatically load and extract information from different pages and show it in compiled form for easy understanding. It can greatly simplify the processes involved in gathering information about the proceedings of various chains. Data from various websites can be easily gathered and read. Since there are numerous processes which are related to retail and distribution, it is very hard to keep constant track of all processes continuously and make note of them. Data scraping can also be used for gathering data for studies and analysis regarding consumer details. It can be used to analyse trends and hence, improve the chains.

Moreover, distribution chains may involve a large number of parties and a long process. Often, goods and services travel across the globe and through various means, in which case it is nearly important to maintain constant supervision. Moreover, retailing also has a number of processes under it, and involves continuous study of trends and changes in the market for maximum efficiency. It has been noted that data scraping can reduce the amount of effort on the part of researchers, analysts, and data scientists. Data scraping can also be used to identify all mentions of particular commodities and the specific context in which they have been done. Because feedback is hard to understand and consumer demands and needs are many, it is important to understand consumer demands and supply accordingly.

Regulations and Monitoring

Moreover, with the increase in technology as well as the number of regulations which must be maintained in order to have efficient transport of commodities, collection of data becomes even more important. Management must monitor data related to all the distribution points. It must be collected, cleaned, and correlated to maintain relevance. Then, it can be used to understand trends and markers for positively or negatively impacting the factors. The knowledge which is gained from this analysis is then translated into action to be rapidly used for regional and upper management practices. This can be used for strategic or tactical decisions.

It has been noted that data scraping is also very useful for improving and curating the digital image which is associated with commodities. Due to the amount of data which can be obtained, it is a good method for handling media image as well as for handling any issues which may surface. Other than information about the retail and distribution, information can also be gathered to ensure that it is easy to improve these channels constantly. It also assists in improved communication and ensuring that information is available about all parties which are involved. Finally, it is safe to conclude that data scraping and related technologies are a good method of lessening workloads of various people involved in management and retail handling.

Financial & Market Research

 

A financial market is a place where trade financial agreements and derivatives such as eventualities and alternatives at low transaction costs. Securities include stocks and bonds, and precious metals.

Types of the financial market:

 

  • Capital markets
  • Stock markets,
  • Bond markets,
  • Commodity markets,
  • Money markets,
  • Foreign exchange markets and many more.

Whenever the financial market is considered under the research it will always help an organisation to study its own financial position and current trends regard to the financial market. When trends in the financial markets help to stabilize its finance and investment with regards to an industry can be judged which is directly associated with the market research.

Market and Types of market

 

A market is a place where both the buyer and the seller come together for transactions or trading. There are 5 types of the market as mentioned below:

 

Perfect Competition: In this type of market there are tremendous numbers of buyers and sellers. Hence this market is full of competition and the alternatives for the buyers.

Monopoly: this market has only one producer for a particular product/good or service. So, the substitution of the product/good/service is not available. Hence pricing of the product is premium pricing.

Oligopoly: Here the market act similar to monopoly. The only difference exists is that some handful of the producers are there in the market. Even the pricing is not done in the same manner as it is done in the monopoly market.

Monopolistic Competition: This market is an amalgamation of two markets namely known as

  • Monopoly market
  • Perfect competition market.

Monophony: Market arrangements are not only distinguished according to the number of suppliers. They also depend on numbers of buyers too. This market is distinguished according to the power of the buyer. Hence this market provides the power of pricing in the hands of the customers/buyers

 

What is Market Research?

 

Market research is an analysis of people needs and the current trend of the market. At the end of the research, a report is submitted regards to the research. It helps owner how to grow and what strategies should be used for the operations and possible customer base. This leads a company to shape his own future. That’s the significance of market research.

Types of Market Research

 

  • Specific Market Research
  • Exploratory Market Research

 

How data scraping Affect?

 

DATA scraping is the process of collecting data/ set of instruction from a website to your pc with a help of a local file. It widely also known as the web scraping OR screen scraping. Web scraping is used in digital businesses that depend upon data accumulation. Even it helps to analyze the data and content.

 

DATA scraping helps you collected the data from the different website which makes you time efficient. It even helps you analyze that data which will not only made you time efficient but also work efficient too. Hence data scraping will always help the management side where the tasks are associated to the data and it analysis.

The Art Of Web Scraping – The Need Of The Hour

What is Web Scraping

 

Extraction of data and information from a given web source and transforming it into a structured data format for further analysis is referred to as Web Scraping, also commonly known as web harvesting and / or web data extraction.

Why Web Scraping

 

In the recent times, with huge amount of data outpouring on the internet, web scraping has grown to become one of the most essential tool for aggregating Big Data sets. Not only this, it has also proven to be a helpful tool for marketers devising their inbound marketing strategies, which many a times, though, may seem to be a far-less aggressive and intrusive form of marketing. Its role in inbound marketing is of greater importance and more so because inbound marketing cannot happen in a vacuum i.e., one cannot create blogs and posts or other website material on topics to pull out of thin air. Instead, it requires plenty of accurate data pertaining to the potential and/or targeted strata of audience, their interests when seeing or learning about something, and most importantly, the way the content is to be presented to them such that it is engaging and interesting but at the same time fulfills the required goal of marketing. And that’s exactly how web scraping helps an individual / firm through its data mining techniques, using which one can learn everything and anything about the customers, their interests, and the best ways to reach out to them.

However, beside the aforesaid, there 3 are other benefits too which tag along the art of Web Scraping, which include:-

 

Contact Database Build-up

 

One of the most essential task for any marketer is to locate where the audience is with respect to their product(s) and that’s where the role of Web scraping comes in.  It is a tool which quickly finds the required information, particularly if data is to be mined from social media, and filters it through to find the targeted audiences by the use of comprehensive web data integration techniques.

Market Analysis

 

In today’s competitive arena, it is absolutely crucial for any firm or organization to be up to date in terms of data and technology, so as o create its own niche and maintain it throughout, more so as it helps in understanding the kind of content  to be produced for the targeted audience. And for this, be it in the bygone era or be it now in the modern times, market research stands as the only tried and tested option. And so, to help everyone with their market anlysis web scraping tools automatically provide the marketer with feeds of news articles, ongoing pricing and sales data, and details about their competitors’ traits, thus ensuring a safer and better game play.

Search engine optimization

 

In today’s era, one of the most effective way to generate and divert traffic to a brand’s website is by the effective use of search engine optimization or SEO. But where on one hand it sounds easy, in reality it is an art to SEO. This is because one has to know accurately as to what the right keywords are and has to continuously evaluate its ratings and effectiveness. In such cases, Web scraping comes to the rescue as it instantly tells which keywords are generating the best traffic—both as per one’s website as well as per that of their competitors

Media Monitoring for Broadcast Media

 

 

Monitoring and scraping for broadcast media refers to pay attention and listen to what the audience has to say regarding one’s brand, the competitors of the concerned company and all the various kinds of topic that is important for the operation and management of a particular company. Broadcast media scraping and monitoring was known as the cut and paste job in the earlier times. Previously the workers of a particular company used to search for acknowledgement and recognition in magazines and newspapers, cut out the column of article written regarding them and used to paste it to a clipboard. However today with the advancement of technology various new-age practices have come into use. Learning about the brand position is done through the help of machines, modern rules and ultramodern processors used for tracking, collecting and arranging recognition from all the spheres of media. Different organisations have their own set of needs and wants regarding the monitoring of the broadcast media which can be categorized into 3 parts:

  • Options that are cost friendly or free of cost
  • Tools for the monitoring of media that requires payment.
  • Premier monitoring solutions.

Reasons as to why Monitoring and Scraping is Important

Monitoring and scraping is really important as it helps the company to know about the whereabouts of one’s competitors and also their position in the market. The reasons for monitoring include:

  • Proper Understanding of the Selected Audience

Clear understanding of the selected audiences makes a person better in relating with them and this leads to the development of better communication between the company and the masses. Proper monitoring of the market makes a person efficient in speaking directly to the audience which is very important.

The monitoring of the brand is as important as the monitoring of media cause it helps in the creation of a plan of a significant reputation management which makes a person dynamic and not just responsive.

  • Risk Mitigation

An organisation cannot protect itself from various risks as it is a part and parcel of any business. However comprehension and reducing the risks that the company can face is the responsibility of several groups of people holding a position in the organisation such as the media monitoring provider.

  • Evaluation of Efforts

Assessment of the efforts of various employees in the company is very important as it help in better understanding of the difference in their expected day to day contribution and their actual contribution in the organisation.

  • Recognizing Influences and Journalists

When a thorough market study is done one comes to know about the potential influences and journalists who can showcase the brand in-front of the masses to increase its popularity and reach out to them.

Conclusion

Though there is a decline in the cable contribution today, television still has a very strong hold over the masses and can be used as an effective tool to persuade their perception. Similarly it’s like destroying one’s own chances of building its reputation among the masses if it takes radio very lightly or even ignores it as it is considered as one of the most highly influential medium in the United Nations which almost reaches about 54% of the audiences daily as a report in 2017. An employee who is good at his work of monitoring media using software would use advanced speech-to-text transcription, so that one can trust that the people wouldn’t miss the priceless quotations.

Multitudes of Web Scraping

 

Web scraping, also often know as web harvesting or web data extraction, primarily, is a technique used for extracting data from the websites. It uses the world wide web directory to access the huge database through hypertext transfer protocol and compare and analyse the desired content. Though, it can be done manually too, but an automated process is hassle free, can handle larger data and provided higher accuracy of results.

Web Scraping is done extensively with the help of Python. Reason being that Python is superfast for this job. Python has a library called “Beautiful soup” which is required for extracting the data out of the HTML and XML files. It works with one’s favorite parser to provide idiomatic ways of navigating, searching and modifying the parse tree. It makes the job much more easier and saves the time. “Beautiful soup” can do a variety of things but it has its own limitation. It cannot send a request on to the web page. So for making the requests, requests are used and then further Beautiful soup can be used.

 

By why is Web Scraping used? The answer to this lies in the fact that, web scraping:-

 

  • Boosts Employment as there are various processes which come under the umbrella of web scraping where manpower in required to be engaged.
  • Optimizes resources as it helps in developing strategic plans and creating modules which could be profitable in short and long run for the respective company
  • Boosts profits as once the well planned strategies are executed, they are sure to reap amazing results in terms of company profits as well as in terms of helping the respective company to create a niche in the modern day competitive market arena.

 

In this context, companies such as ITSYS Solution is a name to place one’s trust with. Its efficient management of data, proper maintenance of databases – big or small, detailed analysis, precise results and, all over cost, effective services make it very dependable and a company to go for.

 

Web scraping, though considered by many, as a grey area, is such an area that despite of being cited as illegal proves to be a domain which helps in reaping quite handsome profits. From its very inception, it has grown and expanded its reach and still on a rapid rise in terms of its use by many eminent companies.

Web Scraping In Travel Industry

 

 

Who doesn’t like travelling and exploring the unexplored? And probably that is why the travel industry is one such industry which round the year makes profit in one way or the other. Also, with new travelling and booking websites and apps coming into the market every now and then, this industry is at a boom presently, with the vacation seasons adding the much-needed icing on the cake.

However, like every coin has two faces, in a similar fashion, the success of the travel industry too has two facets to it. On one hand, where this success presents plenty of opportunity for travel managers, on the other hand it brings along with it, fierce competition. And so, if any firm / organisation wants to have a stronger hold on the grounds and create a niche in the competitive arena at the same time offering an enriched customer experience to the travelers, it is an absolute necessity for it to leverage key resources like data scraping and big data platforms.

One of the major benefits of data scraping is that it helps in tracking and automating competitive price monitoring. Utilizing data scraping techniques allows the respective firm and/ or organisation to monitor their competitors’ pricing in the pursuit of optimizing their own accordingly. So also, it helps in choosing the ideal price point to stay competitive and attract more customers, at the same time maximizing the profit rates.

Not only this, it is a tool to analyse customer behavior, feedback, reviews, and demands, enabling one to understand the customers better and thence, fine-tune the business practices accordingly so as to deliver better services to the targeted strata of people.

But with the competition heating up every day, conventional data scraping tools are lagging behind in providing the optimum and so, the requirement of more robust and dynamic web data integration solutions have become the need of the hour. These enhanced services allow one to extract, prepare, and normalize data in a very easy and efficient manner with the help of reports and visualizations.

However, with the many benefits of web scraping there also comes handy a few risks. Legal atrocities, data authentication issues and resource / tool verification are some of the risks which are involved and are crucial to be handled properly. Also, with everyday changes in the market strategies, new software development patches come in so that the tool being used is up-to-date to handle the scenario well. In such cases, it becomes difficult for the commoners to handle it efficiently as not everyone is well trained in this sphere.

But worry not! ITSYS Solutions is there to your help. With years of experience in web scraping, data harvesting and bid data handling, the ITSYS professionals are there to ensure that your own data is safe and at the same time the data being scraped upon doesn’t lead to any legalities. Also, our testimonials speak of the excellence we portray in our work. So why wait, choose ITSYS Solutions and kick start your graph of exponential growth.

Compliance and Risk Management

 

Compliance, in general, means in compliance to a rule, such as a specification, policy, standard or law. Risk management is the identification, assessment, prioritization and mitigation of the effect that can be placed upon an organization. Risk management can imply both negative risks as well as positive risks. The term “risk management” is mostly used by different groups of specialists to define rather diverse, yet associated, functions. Risk management can be classified in three types: operational risk management, financial risk management, and enterprise risk management.

Without a doubt, compliance and risk management are closely aligned:

Compliance with established rules and regulations helps protect organizations from a variety of unique risks, while risk management helps protect organizations from risks that could lead to non-compliance—a risk, itself. However, they have differences.

 

Tactical vs. Strategic

Since non-compliance can prompt expensive fines and penalties, not to forget reputation damage, it should not be underestimated. Risk management, on the other hand, should rest more heavily on analysis in order to avoid risks or govern risks worth taking.

 

Prescribed vs. Predictive

With compliance, organizations must follow rules and regulations already there. Risk management, nonetheless, should be less responsive. It should be able to predict the impact risks will have on the organization—encouraging new and inventive procedures (as opposed to contributing to established rules) that lessen risks or take benefit of their pluses.

 

Risk Aversion vs. Value Creation

Conforming with governance rules and regulations hardly interprets into value-generating business propositions. Compliance usually stops with proof that a rule has been followed to evade risks. The best risk management, though, can convert the necessary evils associated with compliance into a boon.

 

Siloed vs. Integrated

Most of the time compliance is driven by a siloed compliance department or siloed initiatives in various departments. Although compliance practices certainly benefit from broad transparency, still they can survive without it. On the other hand, the most impact risk management programs cannot accomplish in silos. Integrating departments, technology systems and processes is essential to control the predominant risks within an organization and how they should be controlled—whether it’s to circumvent their insinuations or drive value.

 

Managing Compliance Risk

A workable plan, procedures and technology is needed to manage compliance risk. Little to no compliance risk management: A compliance team has to be formed to identify compliance needs and requirements, evaluate the existing compliance program, form a phased budget for objectives, and allocate resources to touch the objectives.

 

Aging compliance process and technology: Evaluate compliance and objectives, and invest in new technology.

Compliance and risk management are not the same. And organizations need to be wary to not lump the two together as one initiative, with one attitude. Nevertheless, understanding their resemblances and how to support the two is equally significant—allowing one to gain the assistance from compliance and risk management being in sync.

Media Scraping and Public Relations

 

Media scraping or social media scraping is a popular method employed in order to determine various data from social networking sites such as Facebook, Instagram, twitter, Snapchat, LinkedIn. The data is also obtained from blogging sites like WordPress, Blogger, other important new sites and pages like Wikipedia, Encyclopedia Britannica. The obtaining of data is done with the help of few well developed apps. The data that is obtained is extremely crucial for different brands and companies. Through these studies one of the biggest studies on human behavior is conducted. This media scraping helps the organizations to understand what the customer is thinking and what the consumer’s attitude is towards a certain product or a topic.

Public Relations is a growing field within every organization and brand. It is the public relations office that helps in the publicity of the product manufactured by the company. It helps the organization or individual in creating a decent image that would nudge the public toward the organization or individual and their products. It generally uses various strategies in order to establish a friendly communication between the public and organization or individual and maintain that organization or individual’s image positive. It helps in the spreading of information and promotions of the coming up projects and products within the public sphere.

 

With each day the connection between media scraping and public relations is growing.

 

The different ways in which media scraping is useful for public relations are as follows –

 

1.  One of the key functions of the public relations is understanding, interpreting, and analyzing the wants, attitudes and opinions of the masses. The media scraping’s first function too is obtaining data that helps in the meticulous understanding of different human behaviors and attitudes. The data that is extracted reveals what the customer thinks about a certain topic. This information will help the public relation in analyzing the public behavior. Suppose the product is a lavender scented candle. The public relation department by making use of the data obtained by media scraping will be able to understand exactly what percentage of the public is in favor of lavender and how many of them use candles and how many love flowers. Thus the function of the public relation will become much easier.

 

2.   Media scraping’s data extraction also helps immensely in understanding the market. If a product is being launched then what is its demand in the market. The public relation department is also involved in the promoting of the products through the use of press and writing. By determining the market demand by media scraping the public relations will adequately be able to promote that product in the market.

 

3.  The above two explained functions are two main functions of the media scraping and public relations. Other functions are that the data helps in making content for the products easier, it also determines the current image of the organization or individual in the market.

 

For the success of an organization or individual the combined presence of media scraping and public relations is not only significant but absolutely essential and necessary.

Retail & Distribution Chain Monitoring

 

Abstract

 

Retail and Distribution mean the purchase of goods in moderately small amounts for use or consumption. Retail and Distribution channel provides the pathway to travel from the producers to customers. Distribution channels depend on the number of mediators required to deliver a product or service. Retail and distribution chain monitoring is a fundamental element of the Supply Chain Management. Retail and Distribution chain is one of the important sectors to make rapid growth in the trade. Monitoring Retail and distribution chain help to understand the market, customer needs, and competition. This process of monitoring is done when the product for sale to the usual world. Data is collected and systematized to understand the pattern, trends, and brands and many other impacting factors. Conclusion obtained from the analysis rapidly consumed by regional and upper management to use in their vital and tactical decision to develop and sustain themselves in the market.

The Different Channel Of Retail & Distribution.

 

  • B2B (BUSINESS TO BUSINESS): This channel is between the business to business. For instance; any company producing mobile need many sensors and components. The deal for this between two companies is a channel for business to business trade.
  • B2C (BUSINESS TO CUSTOMER): channel between the business and the customer is known as B2C. For e.g. any mobile phones used by the customer is sold by the company to the customer/ consumer. Hence it is the channel between Business and customer.
  • B2G (BUSINESS TO GOVERNMENT): Under this channel, the door is open for trading between the government and business. The coal industry is one such example of this channel. B2G channel will give a great development for any country to become stable and developed.


Relation of data scraping with Retail & Distribution Chain Monitoring

 

Data scraping is always helpful where analysis of data is a need. Web scraping provides direct discernibly of data needed to succeed in the retail aspect. The Retail & Distribution Chain Monitoring by web scraping helps you recognize what’s happening at competitor’s tent and empowers you to equip strategy. This helps for the planning of the next strategy and action plan to execute and play the card of an organisation which will make an emperor strong by its roots. Data scraping helps to get data from multiple website data. When it is collected from the various different website and it will make data comparison efficient and planning of the strategy become more efficient in lesser time. Even data scraping save the time for the collection of the data. Market research is made easy when and multiple portal data will help the data authentication. This will open a big door and even the smaller blocked windows by the instant exploring of the current trending data. Hence it becomes easy to decide the deals of the company with regards to B2B, B2G, or B2C.

Goals of Financial Research and Analysis

Financial research or financial analysis is known as the course of assessing businesses, projects, budgets and other finance-related bodies to decide their performance and fitness. One can use financial analysis to check if the business or project or budget is stable or solvent or liquid or profitable enough to permit a monetary investment. On the other hand, Market research is the course of measuring the feasibility of a new good or service through research conducted directly with the consumer. Since this practice is done straight with the consumers, it helps the company to discover the target market and record direct inputs from the customers.

 

Goals of Financial Research and Analysis

 

Profitability – With the help of the income statement of the company, profitability can be measured.

Solvency & Liquidity – Based on the company’s balance sheet, its ability to maintain positive cash flow and its ability to pay its obligation can be calculated.

Stability – Besides the income statement and the balance sheet, other financial and non-financial indicators help find the ability of the company to remain in business in the long run.

 

Method of Financial Analysis

 

Comparing financial ratios like solvency, profitability, growth etc., past performance of the company is recorded. Extrapolating those values, the future performance can be foreseen and can be manipulated accordingly. Data scraping also helps in this when comparing between similar firms.

 

Goals of Market Research

 

Market research is a way of getting an impression of consumers’ wishes, needs and opinions. It can also involve discovering how they act.

Market research can guarantee the success of marketing campaigns, and in-turn sales. It can help the company keep a tab on the competitors. Market research can also help minimize loss in business.

 

Types of Market Research Information

 

Market research typically involves two types of data:

Primary information- the company itself or a third-party company does the research.

Secondary information- the data is already compiled by reports and studies by govt. agencies, trade associations etc. Data scraping helps in collecting the data.

Primary research can be done in a few ways like- direct mail, telephone or personal interviews.

In direct mail questionnaire, response is usually low. 3-5% is the usual response where in telephonic interviews success rate is higher. Speed and cost effectiveness are also advantages for telephonic interviews. However, personal interviews are the most effective form of marketing research. They can also be of two types: A group survey (used mostly by big business) and the in-depth review (one-on-one interviews).

In conclusion, we can say that financial and market research are both very important for a company. The ratios in financial analysis indicates how well the company is utilizing its equity investment. It is also important for small business owners to understand and use financial analysis because investors and outside analysts measure this for a company’s success. Marketing research is needed on a continual basis to keep up with the latest market trends and gain a competitive edge in the business market. Understanding market research and using it to advantage is vital in reaching out to the target audience and increasing the sales.

Reasons for Social Media Monitoring

 

 

Social media monitoring in the general sense refers to the method of utilizing of various devices to pay attention to what is the topic being discussed over the internet and monitoring and controlling media not only from the conventional publishers but on a million of different social networking sites. The practice of social media monitoring is at times also called or related to the terms social listening, buzz analysis, online analytics, social media intelligence, social media measurement or even social media management and the list can go on.

Reasons for Social Media Monitoring

Social media monitoring or social media analytics were previously applied in quintessential sector of companies such as the finance or retail industries who used social media monitoring and scraping to make sure to create brand awareness, improvement of customer services, marketing planning along with the detection and recognition’s of fraudulent. Apart from the mentioned reasons there are a few more causes which gets benefited through the social media monitoring which includes:

  • Measurement of Customer Sentiment

Social media monitoring helps an organisation to know about the position they hold in the social space and also gives a reality check. Through study of the social media one can assess the outlook of the customers regarding a particular product or topic and the viewpoint about the company as a whole by the measurement of their emotions, tone and context. Keeping a track of the customer reviews help the company to grow and maintain customer satisfaction, loyalty of the customers regarding the particular brands as well as their purpose of relation which would further help in the marketing of the campaigns at present and also in the future.

  • Segmentation of the Selected Market

The selected market refers to the bunch of customers which includes organisations, individuals or even households for which a particular company or organisation make designs, execute and preserve the mix of marketing procedures which suits the requirements and fondness of that particular bunch. Organisation and assessing the data-set of social media platform makes a person aware of when and to whom the marketing should be done regarding their services or products. Recognition of more suitable market field helps in the increment of the return on investment.

Monitoring of the online branding doesn’t only refer to paying attention to what the customers have to say regarding the particular products and services of the company but also keeping a check on the various competitors in the field, the press and print media monitoring along with the say of the key opinion leader of the industry. It is not only concerned about just the products of a company but also their customer service management procedure, social engagement, etc.

  • Recognition of Market Trends

Recognition of the various trends in the existing market is important to modify the business planning, keeping the business in the similar rate with the forthcoming changes in directions in the particular industry.

Other than the instinctive internet scraping devices, in the present times a lot of social media channels provide reimburse application program interface to its customers, research individuals, academia and particular organisations such as Facebook and Twitter in the social networking domain.

Media Scraping and monitoring for Broadcast Media

 

 

 

Media scraping is an extremely popular tool used primarily for the extraction of data from various social media sites as wells as blogs and news sites. The most important social media sites that are used for this very purpose are Facebook, twitter, Instagram, snapchat and LinkedIn. These are social media platforms where the majority of the public choose to share most of their private delights and opinions. Through numerous posts of different individuals in the public media scraping which is also known as social media scraping is able to derive data that ultimately aids in revealing and further understanding of various human behaviors, attitudes and habits. This particular information help to determine data about various consumption habit of the publics which helps organizations, individuals, media to understand how their content is being consumed, who are its most enthusiastic consumers and also they can improve their content.

Broadcast media is a group of media focused on producing entertaining as well as political and relevant contents. The success of broadcast media chiefly depends on audience reaction. What the audience thinks and wants influences the work of this group. Broadcast media traditionally includes television and radio but now also includes certain digital media platforms. The broadcast of different kinds of new totally depends on how the audience. For example the evenings are mostly reserved for the relaying of the most topical news and discussions around the world because that is the time when majority of the working population returns home and switches on the television or the radio. It also depends on who is watching what kind of content. Indian television serials mostly portray traditional Indian domestic scenes as housewives and old people are most likely to sit around the television and while away their time watching these contents.

Media scraping is extremely essential for the broadcast Medias.

 

The different ways in which media scraping monitors for the broadcast media are as follows –

 

  • The media scraping helps in determining the kind of content the audience is craving. By this the broadcast media is inspired to create content centering those topics. What the audience wants is crucial for the success and effect of the broadcast media.
  • The media scraping helps in assessing how satisfied the audience is with the present content. This aspect is also very important as this helps the broadcast company to understand the quality of content they are producing and how effective and impact they are.
  • Another crucial data that media scraping extracts is what the present content is lacking. This lack helps immensely in the determining of what more needs to be included in the future content.
  • The data also helps in understanding what kind of platform the audience prefers while consuming content – digital or traditional media
  • Media scraping also helps immensely in figuring on which days, at what part of those days a certain kind of content is likely to be consumed. Another crucial data that media scraping reveals is the amount of time the audience devotes to those contents.

The collaboration of media scraping and broadcast media is extremely crucial and critical.

Techniques of web scraping you should know

 

 

 

It’s a process of extraction of data from various websites. It’s a variant of data scraping. The data extracted is then used for analysis. Web scraping involves fetching a web page and then extracting the data from it. Web scraping is used to understand the trend of the market, to understand your competitors and their pricing and then get ahead of them. Web scrapers typically take something from webpage and then use it for other purposes. The data may be parsed, reformatted or put in a spreadsheet etc.

Techniques of web scraping

Web scraping is the process of automatically collecting information from the World Wide Web. Following are some of the best web scraping techniques that can be used for collecting information: –

  • Human copy and paste – Sometimes a better technology than any ever created. Usually websites don’t want their data to be scraped. For these sites, human touch can do the trick.
  • Text pattern matching – It’s a very simple yet powerful approach. It’s based on UNIX grep command or regular expression matching facilities of programming languages.
  • HTTP programming – HTTP requests can be posted to the web server to retrieve static and dynamic web pages.
  • HTML parsing – websites generally have a large collection of pages generated dynamically. Same category data are usually encoded into similar pages by a common script or template. To parse HTML pages, languages like HTQL and XQuery can be used.
  • Dom parsing – by embedding a full-fledged browser, programs can retrieve the dynamic content generated by client-side scripts.
  • Semantic annotation recognizing – the pages being scraped may embrace semantic mark-ups and annotations. These can be used to locate specific data snippets.

Conclusion

Web data scraping in modern times has advanced the internet usage, marketing and management to a whole new dimension. The job which demanded days can be finished within few seconds. Extensively used in marketing and artificial intelligence analysis it’s importance cannot be ignored.