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How alternative data for finance can boost your business

Whether you are managing a hedge fund trying to find innovative sources of alpha or are an analyst looking to future proof your company’s financial investments, as #bigdata continues to disrupt the investment research landscape, getting on top of these alternative #datasets as early as possible is the key to capturing the immense alpha left in this data.

In our blog post, we will show you what alternative data is and how harnessing the power of web extracted alternative data can give insights that keep you two steps ahead of the market.

Whether you are managing a hedge fund trying to find innovative sources of alpha or are an analyst looking to future proof your company’s financial investments, as #bigdata continues to disrupt the investment research landscape, getting on top of these alternative #datasets as early as possible is the key to capturing the immense alpha left in this data.

In our blog post, we will show you what alternative data is and how harnessing the power of web extracted alternative data can give insights that keep you two steps ahead of the market.

The finance industry has long used data as part of its operations. Investments can be a risky business after all, and data can be used to limit the risks. Many financial companies have gotten used to employing data from more traditional sources as part of their analysis and assessment. Some of these traditional sources can include SEC filings, customer credit scores, press releases, and more.

As the world has become inundated with more and more data, the traditional data sources, while adequate, only give a portion of useful information. The finance industry can do so much more if they have more data. That’s where alternative data comes in. According to a 2020 survey from Dataminr, around 79% of institutional investors say they use some type of alternative data. It’s clear that many within the finance industry are turning to alternative data and seeing the results they want.

Put simply, alternative data is data that has been collected from anywhere outside traditional data sources. That can be different for pretty much any industry. In the case of the financial industry, if data comes from a source outside traditional areas like SEC filings and credit sources, it can safely be considered as alternative data.

When companies collect alternative data, it will sometimes come in a highly unstructured form. There’s also usually a lot of it. Many organizations will refer to alternative data as big data, but big data is mainly a reference to the amount, whereas alternative data refers to where it comes from.

With so many traditional data sources at their disposal, why would financial institutions and investors want to use alternative data? Traditional data sources have certainly served them well for many years, but there’s so much more data for them to use out there. Alternative data helps provide additional insights that these institutions wouldn’t normally have. This data gives them a bigger and clearer picture of the financial situation surrounding an individual, organization, industry, or even an entire economy. For example, some investment firms have recently taken to analyzing satellite imagery to assess the health of a local economy. This is done by taking satellite photos of shopping center parking lots and counting the number of cars there at any given time. From that information, they can determine how many people are shopping, which can indicate the current economic state.

When it comes to extracting data from the web, there’s virtually no limit to the type and quantity of data available. Our blog post takes you through a few typical data types and How Alternative Data can help in the Finance industry

Product data is one of the most complex but important sources of data that provide critical insights into the performance of a product or a brand. Amazon, Walmart, Target, eBay, etc are great examples of websites that provide thousands of data points to reveal company and category performance.

A Product’s rank on an online retailer’s bestseller list can indicate strong performance, while poor ranking and a discount history revealing early price reductions can expose inventory troubles and margin reductions.

Advertising data can provide a unique insight into the corporate spend behind product launch and anticipate revenue changes or slow-moving inventory, along with measurements for product traction and adoption.

YoY share trends from online retailers are powerful predictive indicators of revenue momentum and stock performance.

All this data offers lucrative opportunities for investors when determining market orders and positions.

Taking a dive into the lengthy and often nebulous pages of a company’s SEC filings can lead to amazing investment insights. It arms investors with high-quality and reliable information, which is why the demand for web scraped SEC filing data is surging.

SEC filings have an immediate impact on stock performance. Markets are highly responsive to filings, whose submission has a direct relationship to increased trade volume. Scraping SEC filings, 10-Ks and 10-Qs produce enormous datasets, revealing non-trivial patterns in huge aggregations of data. Investors can use this information to identify rare opportunities for alpha as well as high performing outliers.

Investment managers want first-hand information on the product information and its current performance so that they can accurately predict the stock performance. While the companies quarterly earnings can provide such insights, it may be too late to make profitable decisions.

Scraping product reviews can allow investors to proactively gather information on a product life cycle and make more up to date assumptions about company earnings. After all, what’s one of the first metrics many of us look to when deciding on a product? The reviews.

Utilizing scraped product reviews to evaluate how a company or product is trending in the category and against Its competition helps hone the perception of risk in the investment decision-making process. Negative consumer reviews can increase stock volatility and pose a serious risk to shareholder value. By extracting product reviews historically and in real-time, smarter and more timely analyses can be performed.

Where can we get information straight from the horse’s mouth? A company’s website and its communications are a good place to start. Scraping data from the web may include analyzing company web traffic, announcements, and hiring activity with the aim of accessing otherwise exclusive insights.

The following are key pieces of data to monitor:

These data give a full picture of a company’s inside track generating extremely useful insights on the company’s trajectories; saving companies from making serious investment blunders.

The rise of social media platforms like Facebook and Twitter has led to a flood of public sentiment. Public sentiment on social media gives insight into both the public at large and also any given subset. We might want to glean more information about it.

Tweets have incredible predictive value. Companies announce developments on social media channels like Twitter, Instagram, and Facebook, and sometimes breaking news hits the social media channels before any other traditional mediums. Company popularity and reputation can be monitored carefully and tracked against competitors.

With an opportunistic mindset and consistent dataset, investors can track and analyze the changes in a company’s internal framework to make financial decisions.

Harnessing the power of quality alternative data will be a decisive advantage in your search for alpha. More data and better data means your investment decision-making process produces more value and consistently.

The use of alternative data is the clear future of the financial industry. It’s more extensive, more up to date, and a better indicator than many of the traditional sources that have been around for years. The ironic thing is that once an alternative data source is used for long enough, it may no longer be considered alternative; it will simply become a part of the traditional data framework of the finance industry. No matter what happensFree Articles, alternative data will likely be part of financial organizations for the foreseeable future.

We will be back with another interesting article till then get in touch with us and keep reading.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

List of applications where web scraping plays a massive role

Web scraping typically extracts large amounts of data from websites for a variety of uses such as price monitoring, enriching #machinelearning models, #financial #data aggregation, monitoring consumer sentiment, news tracking, etc. Browsers show data from a website. However, manually copy data from multiple sources for retrieval in a central place can be very tedious and time-consuming. Web scraping tools essentially automate this manual process.

In this article List of Applications Where Web Scraping Plays a Massive Role

Web scraping typically extracts large amounts of data from websites for a variety of uses such as price monitoring, enriching #machinelearning models, #financial #data aggregation, monitoring consumer sentiment, news tracking, etc. Browsers show data from a website. However, manually copy data from multiple sources for retrieval in a central place can be very tedious and time-consuming. Web scraping tools essentially automate this manual process.

In this article List of Applications Where Web Scraping Plays a Massive Role

Web scraping is the process of extracting and storing data into your local machine. You can extract any amount of data from a website and store it in your system at ease. You can export them as a CSV file which gives you the flexibility to transpose and drill down the data the way you want.

Also Read: https://hirinfotech.com/web-scraping-solutions/

Pricing plays a key role in selling your product. You need to be aware of how much your competitor charges for their product. Even a small difference in the price can cause you to miss a lot of customers. Therefore you must keep track of your competitor’s pricing.

Here is an example: Let’s say you are selling a particular brand of jeans. You analyze your profits, check competitor sites, and then set the price of it as $100. A few days later, you notice that your competitors have reduced the price of the same jeans to $95. For you to sell consistently, you will have to re-price the product. How do you know when your competitors are revising their prices?

Tracking the pricing manually can be a tedious and excruciating task. With prices changing often, it is a lot of work to manually check for updates. This is where you need to take the help of web scraping.

With web scraping, the prices can be automatically extracted from your competitors’ websites. This allows you to deploy new strategies to sell your product.

Minimum Advertised Price (MAP) is a de facto method for manufacturers to check their retail partners. With thousands of resellers in the market, the price changes every day. These manufacturers can only keep an eye on the small number of retailers. But every manufacturer would want to monitor retailers to see if they comply with their minimum price.

How do they do it? There are so many resellers and so many of their products out there.

With Web Scraping, they can quickly extract humongous information at the fraction of a second.

In case you are running a B2B site that sells a suite of products, you will be flooded with the need to write perfect product descriptions that would match your product. This is extremely important as this is going to be the face that is going to sell to the customers. Customers will rely on the information mentioned in the description and decide if they need the product or not.

How do you get this information? Writing it manually and verifying it is one option. Web Scraping is another. The manufacturer is not going to just rely on your site to see his/her product. You can make the entire process easy if you know which site to look for. Within seconds, using web scraping you can get the product description and images.

What is the first thing that you look for when you want to buy something online? Customer Feedback. This feedback can be for the same product as mentioned earlier. It can be spanned across multiple sites.

Let us say, you have design software that you sell on Amazon, Flipkart, Snap deal, and various other sites. Now you want to curate all the reviews and publish on your site. How do you go about doing that? With web scraping, you can curate all the customer reviews from different sites. You can also download it in a spreadsheet and even compare the ratings.

When it comes to financing, the primary source of any insight is news. There is ‘N’ number of news channels available online that telecast day to day information. Going online and reading every news to find out the day to day activities is impossible. Even before you assimilate the information, the news would be too old to consume.

With Web Scraping, you can easily convert the news to actionable items by extracting the information you need using keywords.

Market data is trade-related information that encompasses a lot of vital information such as price, quotes, and volume. It is used to report assets distributed across traders.

Data is spanned across global markets, stocks, and forex. This information is extremely beneficial in planning the trade, calculating market risk, and other impacts across trading. Market data is a lot of information that is available across the internet. Web Scraping enables you to slice the data you need by scraping them from across different sites. 

Financial statement determines the health of the company and helps investors decide if it is worth investing in the company. These statements are audited by the government agencies to ensure accuracy and for financing, tax, and other investing purposes.

That said, it is near impossible to get financial statements manually from different companies for different years. Web Scraping helps in extracting this information and paves way for future analysis.

Insurance companies have to frame their terms and conditions carefully to avoid sanctioning wrong claims. This can be done only by studying the history of claims and those processed not only by their company but also by their competitors. Leveraging this amount of historical data is not possible manually. Even if one has to do so, they will spend more time acquiring this information rather than understanding them.

Web Scraping reduces this load on them by getting all the information that they might need to take calculated and informative decisions.

Real-time is analyzing the data as soon as it is available on the internet. Users can rapidly analyze the trend, get insights, and draw conclusions in a matter of seconds. This allows companies to make informed decisions without any delay enabling them to seize opportunities immediately. 

This is different from the batch style technique where data analysis might take hours or even days sometimes. For instance, the batch analysis will give you information on traffic trends in a particular place, traffic hotspot, etc.  The Real-time analysis gives you information on the current traffic so that you can avoid that route.

Financial organizations rely on this data to take important credit scoring decisions such as continuing or discontinuing it. For real-time analytics to work hassle-free, data must be collected in large quantities as quickly as possible. Web Scraping saves the day when you need something to be extracted and processed quickly.

Predictive analytics is nothing but the use of historical data to identify future outcomes. It allows the user to go beyond what happened in the past and predict what will happen in the future. It, however, cannot accurately forecast the future but can provide a wide list of possibilities.

It is used to study customer behavior, and understand the life cycle of similar products that were released in the past. It is widely used to detect fraud, optimize market campaigns, improve operations and reduce risk.

Just by the definition, one can understand the amount of data needed to make this analysis. Web Crawlingis the key to collect such an amount of data easily.

NLP is a technique used to make computers understand human languages. This can have a long way in the future as computers will be able to interpret human say. One might no longer have to feed instructions into the system. All that they have to do is ask the computer to do something and it will be made available.

To perform this, machines will need a lot of information. They need to understand the different words, contexts in which they are used, slang, etc. They will all and any data related to how humans interact and the best way to find that is using social media.

Web scraping is one of the many ways to scrape data from social media in a re-usable format.

Machine learning allows the machines to learn and improve on their own without coding. It is an advanced branch of Artificial intelligence where data is fed into the system and they learn from it. This can be achieved only if there is enough data for the model. Web scraping helps in collecting this data making this artificial advancement possible.

Risks and business go hand in hand. There are various risks involved in a business, right from hiring a resource to landing a client. But, What if there is an option to calculate risk and take careful decisions?

Web Scraping gives you a way to eliminate these risks. You can leverage it to do a background check on your customers or employees. You can get end to end information that is available on the internet about them.

When it comes down to marketing your data in today’s scenario, data plays a key role. The data you have is what categorizes the success or failure of your campaign.

Web Scraping is all about content extraction. It paves a way to extract all the data you need and compile an engaging content to grow your business.

Spending a lot of money on outbound leads can burn a hole in your pocket. With web scraping, you can harness this data directly from the source to generate leads. This reduces the budget planned for generating leads and helps in using that resource for other marketing activities.

One can only imagine the amount of information that will be needed for the Academic industry. No matter what it is, teaching, research, academics will need a lot of data and statistics to prove a point. Web Scraping has made this process easier and simpler.

Journalism is all about bolstering new stories. For this, you might need to look upon historical information for reference. Similar stories and how they have been handled will help you draft the content that will not only engage but also enable your readers to understand the complexity involved and how it is handled.

Investing your money in properties can be an emotionally driven decision. But where to invest should be made on empirical data. This involves a lot of time and understanding. There would be various questions that need to be answered – Who am I buying this for? Who is going to use this property? Is this going to yield the rental that I need? These are the answers that can be obtained using web scraping.

You can acquire any type of information that you need using web scraping. Right from the price of similar property, Monthly rental, popular streets, size of the property, parking space of that property and those provided by similar properties, the number of views the property has, Is it semi-furnished or fully furnished, etc.

These are just a few examples of how web scraping is beneficial. There is so much more that it can do. If you are looking to make informed decisionsFeature Articles, it is high time you consider web scraping

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

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Puma Ferrari Long Designer & Stylish Long shoes for Men. Puma SE, branded as Puma, is a German multinational corporation that designs and manufactures athletic and casual footwear, apparel, and accessories, which is headquartered in Herzogenaurach, Bavaria, Germany. Puma is the third-largest sportswear manufacturer in the world.

Puma has been a public company since 1986, listed on the Frankfurt Stock Exchange. French luxury group Kering (formerly known as Pinault-Printemps-Redoute or PPR) holds 16%, Kering’s largest shareholder Artemis SA owns 29% of the share capital.[5] Since 1 July 2013, the company has been led by former football professional Bjørn Gulden (CEO).

As of 2017, Puma SE employs more than 13,000 people worldwide and distributes its products in more than 120 countries.[6][7]

Following the split from his brother, Rudolf originally registered the newly established company as Ruda (derived from Rudolf Dassler, as Adidas was based on Adi Dassler), but later changed the name to Puma.[8] Puma’s earliest logo consisted of a square and beast jumping through a D, which was registered, along with the company’s name, in 1948. Puma’s shoe and clothing designs feature the Puma logo and the distinctive “Formstrip” which was introduced in 1958.[9]

Free Standard Shipping on all orders and Cod is also available all over India. Visit our Return Policy for more information. we believe in customer satisfaction and the quality of products. we provide customize shoes for men in different variety like loafers, casual wear,  flip flopsComputer Technology Articles, and many more. please visit our shopping page to place your order

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Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR

Content writer and professional web developer. love to write on various technology and another topic. love to learn new technologies and also learn financial terminologies. I believe in hard work and dedication. Also keen to learn new things.

 

 

Content writer and professional web developer. love to write on various technology and another topic. love to learn new technologies and also learn financial terminologies. I believe in hard work and dedication. Also keen to learn new things.

 

 

10 myths about web scraping services

Data scraping is the process of extracting #data from the web and it has become very popular in recent years. If used and analyzed properly, data can be a powerful #tool. Hence, web scraping is an important growth catalyst for many businesses today. There’s currently a lot of inaccurate and misleading information about data scraping, which can make you confused.

In this post, we’ll breakdown the most common myths about data scraping.

Data scraping is the process of extracting #data from the web and it has become very popular in recent years. If used and analyzed properly, data can be a powerful #tool. Hence, web scraping is an important growth catalyst for many businesses today. There’s currently a lot of inaccurate and misleading information about data scraping, which can make you confused.

In this post, we’ll breakdown the most common myths about data scraping.

Web scraping is the process of extracting data from a website or another source of information. Instead of waiting for long hours to copy-paste information, the 2020 edition of data extraction requires only a few minutes to scrape an entire piece of information.

Web scraping is great. It functions on the main criteria for every business which is data retrieval. In 2020 data is everything and web scraping ensures that you are getting a dose of all that in your business strategies.

Interesting Read: What is Web Scraping: Introduction, Applications, and Best Practices

Many people have false impressions about web scraping. It is because there are people don’t respect the great work on the internet and use it by stealing the content. Web scraping isn’t illegal by itself, yet the problem comes when people use it without the site owner’s permission and disregard of the ToS (Terms of Service). According to the report, 2% of online revenues can be lost due to the misuse of content through web scraping. Even though web scraping doesn’t have a clear law and terms to address its application, it’s encompassed with legal regulations. For example:

Web scraping involves specific data extraction on a targeted webpage, for instance, extract data about sales leads, real estate listing, and product pricing. In contrast, web crawling is what search engines do. It scans and indexes the whole website along with its internal links. “Crawler” navigates through the web pages without a specific goal.

Interesting Read: https://hirinfotech.com/data-mining-vs-data-harvesting/

It is often the case that people ask for scraping things like email addresses, Facebook posts, or LinkedIn information. According to an article titled “Is web crawling legal?” it is important to note the rules before conduct web scraping:

One person can be prosecuted under several laws. For example, one scraped some confidential information and sold it to a third party disregarding the desist letter sent by the site owner. This person can be prosecuted under the law of Trespass to Chattel, Violation of the Digital Millennium Copyright Act (DMCA), Violation of the Computer Fraud and Abuse Act (CFAA) and Misappropriation.

It doesn’t mean that you can’t scrape social media channels like TwitterFacebookInstagram, and YouTube. They are friendly to scraping services that follow the provisions of the robots.txt file. For Facebook, you need to get its written permission before conducting the behavior of automated data collection.

web scraping tool (data extraction tool) is very useful regarding non-tech professionals like marketers, statisticians, financial consultant, bitcoin investors, researchers, journalists, etc. Web scraping with Python is time-consuming. On the other side, a web scraping template is efficient and convenient to capture the data you need.

It is perfectly legal if you scrape data from websites for public consumption and use it for analysis. However, it is not legal if you scrape confidential information for profit. For example, scraping private contact information without permission, and sell them to a 3rd party for profit is illegal. Besides, repackaging scraped content as your own without citing the source is not ethical as well. You should follow the idea of no spamming, no plagiarism, or any fraudulent use of data is prohibited according to the law.

Maybe you’ve experienced particular websites that change their layouts or structure once in a while. Don’t get frustrated when you come across such websites that your scraper fails to read for the second time. There are many reasons. It isn’t necessarily triggered by identifying you as a suspicious bot. It also may be caused by different geo-locations or machine access. In these cases, it is normal for a web scraper to fail to parse the website before we set the adjustment.

Interesting Read: https://hirinfotech.com/data-mining-vs-machine-learning-whats-the-difference/

You may have seen scraper ads saying how speedy their crawlers are. It does sound good as they tell you they can collect data in seconds. However, you are the lawbreaker who will be prosecuted if damages are caused. It is because a scalable data request at a fast speed will overload a web server which might lead to a server crash. In this case, the person is responsible for the damage under the law of “trespass to chattels” law (Dryer and Stockton 2013). If you are not sure whether the website is scrapable or not, please ask the web scraping service provider. Hir Infotech is a responsible web scraping service provider who places clients’ satisfaction in the first place. It is crucial for Hir Infotech to help our clients get the problem solved and to be successful.

API is like a channel to send your data request to a web server and get desired data. API will return the data in JSON format over the HTTP protocol. For example, Facebook API, Twitter API, and Instagram API. However, it doesn’t mean you can get any data you ask for. Web scraping can visualize the process as it allows you to interact with the websites. Hir Infotech has web scraping templates. It is even more convenient for non-tech professionals to extract data by filling out the parameters with keywords/URLs.

Many data integration platforms can help visualize and analyze the data. In comparison, it looks like data scraping doesn’t have a direct impact on business decision making. Web scraping indeed extracts raw data of the webpage that needs to be processed to gain insights like sentiment analysis.  However, some raw data can be extremely valuable in the hands of gold miners.

With Hir Infotech Google Search web scraping template to search for an organic search result, you can extract information including the titles and meta descriptions about your competitors to determine your SEO strategies; For retail industries, web scraping can be used to monitor product pricing and distributions. For example, Amazon may crawl Flipkart and Walmart under the “Electronic” catalog to assess the performance of electronic items.

Web scraping is widely used in various fields besides lead generation, price monitoring, price trackingPsychology Articles, market analysis for business. Students can also leverage a Google scholar web scraping template to conduct paper research.  Realtors are able to conduct housing research and predict the housing market. You will be able to find Youtube influencers or Twitter evangelists to promote your brand or your own news aggregation that covers the only topics you want by scraping news media and RSS feeds.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

What is the difference between data mining and machine learning

The huge leaps in Big Data and analytics over the past few years has meant that the average business user is now grappling with a whole new lexicon of tech-terminology. This can breed confusion, as people aren’t sure of the difference between terms and approaches. In my experience, data mining and machine learning are a prime example of this.

In this article, I define both data mining and machine learning, and set out how the two approaches differ. So if you’ve never quite grasped the difference, this article is for you.

The huge leaps in Big Data and analytics over the past few years has meant that the average business user is now grappling with a whole new lexicon of tech-terminology. This can breed confusion, as people aren’t sure of the difference between terms and approaches. In my experience, data mining and machine learning are a prime example of this.

In this article, I define both data mining and machine learning, and set out how the two approaches differ. So if you’ve never quite grasped the difference, this article is for you.

Data mining isn’t a new invention that came with the digital age. The concept has been around for over a century but came into greater public focus in the 1930s.

According to Hacker Bits, one of the first modern moments of data mining occurred in 1936, when Alan Turing introduced the idea of a universal machine that could perform computations similar to those of modern-day computers.

Forbes also reported on Turing’s development of the “Turing Test” in 1950 to determine if a computer has real intelligence or not. To pass his test, a computer needed to fool a human into believing it was also human. Just two years later, Arthur Samuel created The Samuel Checkers-playing Program that appears to be the world’s first self-learning program. It miraculously learned as it played and got better at winning by studying the best moves.

We’ve come a long way since then. Businesses are now harnessing data mining and machine learning to improve everything from their sales processes to interpreting financials for investment purposes. As a result, data scientists have become vital employees at organizations all over the world as companies seek to achieve bigger goals with data science than ever before.

With big data becoming so prevalent in the business world, a lot of data terms tend to be thrown around, with many not quite understanding what they mean. What is data mining? Is there a difference between machine learning vs. data science? How do they connect to each other? Isn’t machine learning just artificial intelligence? All of these are good questions, and discovering their answers can provide a deeper, more rewarding understanding of data science and analytics and how they can benefit a company.

Both data mining and machine learning are rooted in data science and generally fall under that umbrella. They often intersect or are confused with each other, but there are a few key distinctions between the two. Here’s a look at some data mining and machine learning differences between data mining and machine learning and how they can be used.

One key difference between machine learning and data mining is how they are used and applied in our everyday lives. For example, data mining is often used by machine learning to see the connections between relationships. Uber uses machine learning to calculate ETAs for rides or meal delivery times for UberEATS.

Data mining can be used for a variety of purposes, including financial research. Investors might use data mining and web scraping to look at a start-up’s financials and help determine if they want to offer to fund. A company may also use data mining to help collect data on sales trends to better inform everything from marketing to inventory needs, as well as to secure new leads. Data mining can be used to comb through social media profiles, websites, and digital assets to compile information on a company’s ideal leads to start an outreach campaign. Using data mining can lead to 10,000 leads in 10 minutes. With this much information, a data scientist can even predict future trends that will help a company prepare well for what customers may want in the months and years to come.

Machine learning embodies the principles of data mining, but can also make automatic correlations and learn from them to apply to new algorithms. It’s the technology behind self-driving cars that can quickly adjust to new conditions while driving. Machine learning also provides instant recommendations when a buyer purchases a product from Amazon. These algorithms and analytics are constantly meant to be improving, so the result will only get more accurate over time. Machine learning isn’t artificial intelligence, but the ability to learn and improve is still an impressive feat.

Banks are already using and investing in machine learning to help look for fraud when credit cards are swiped by a vendor. CitiBank invested in global data science enterprise Feedzai to identify and eradicate financial fraud in real-time across online and in-person banking transactions. The technology helps to rapidly identify fraud and can help retailers protect their financial activity.

Collecting data is only part of the challenge; the other part is making sense of it all. The right software and tools are needed to be able to analyze and interpret the huge amounts of information data scientists collect and find recognizable patterns to act upon. Otherwise, the data would largely be unusable unless data scientists could devote their time to looking for these complex, often subtle, and seemingly random patterns on their own. And anyone even somewhat familiar with data science and data analytics knows this would be an arduous, time-consuming task.

Businesses could use data to shape their sales forecasting or determine what types of products their customers really want to buy. For example, Walmart collects point of sales from over 3,000 stores for its data warehouse. Vendors can see this information and use it to identify buying patterns and guide their inventory predictions and processes for the future.

It’s true that data mining can reveal some patterns through classifications and sequence analysis. However, machine learning takes this concept a step further by using the same algorithms data mining uses to automatically learn from and adapt to the collected data. As malware becomes an increasingly pervasive problem, machine learning can look for patterns in how data in systems or the cloud is accessed. Machine learning also looks at patterns to help identify which files are actually malware, with a high level of accuracy. All this is done without the need for constant monitoring by a human. If abnormal patterns are detected, an alert can be sent out so action can be taken to prevent the malware from spreading.

Both data mining and machine learning can help improve the accuracy of the data collected. However, data mining and how it’s analyzed generally pertains to how the data is organized and collected. Data mining may include using extracting and scraping software to pull from thousands of resources and sift through data that researchers, data scientists, investors, and businesses use to look for patterns and relationships that help improve their bottom line.

One of the primary foundations of machine learning is data mining. Data mining can be used to extract more accurate data. This ultimately helps refine your machine learning to achieve better results. A person may miss the multiple connections and relationships between data, while machine learning technology can pinpoint all of these moving pieces to draw a highly accurate conclusion to help shape a machine’s behavior.

Machine learning can enhance relationship intelligence in CRM systems to help sales teams better understand their customers and make a connection with them. Combined with machine learning, a company’s CRM can analyze past actions that lead to a conversion or customer satisfaction feedback. It can also be used to learn how to predict which products and services will sell the best and how to shape marketing messages to those customers.

The future is bright for data science as the amount of data will only increase. By 2020, our accumulated digital universe of data will grow from 4.4 zettabytes to 44 zettabytes, as reported by Forbes. We’ll also create 1.7 megabytes of new information every second for every human being on the planet.

As we amass more data, the demand for advanced data mining and machine learning techniques will force the industry to evolve in order to keep up. We’ll likely see more overlap between data mining and machine learning as the two intersect to enhance the collection and usability of large amounts of data for analytics purposes.

According to reporting from Bio-IT World, the future of data mining points to predictive analysis, as we’ll see advanced analytics across industries like medical research. Scientists will be able to use predictive analysis to look at factors associated with disease and predict which treatment will work the best.

We’re just scratching the surface of what machine learning can do and how it will spread to help scale our analytical abilities and improve our technology. According to reporting from Geekwire, as our billions of machines become connected, everything from hospitals to factories to highways can be improved with IoT technology that can learn from other machines.

But some experts have a different idea about data mining and machine learning altogether. Instead of focusing on their differences, you could argue that they both concern themselves with the same question: “How we can learn from data?” At the end of the day, how we acquire and learn from data is really the foundation for emerging technology. It’s an exciting time not just for data scientists but for everyone that uses data in some form.

To find out more about Data MiningFind Article, check out this article discussing the difference between Data Mining and Data Harvesting.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

10 reasons why web scraping is good for your current business growth

Setting up a new #business? Or trying to grow an existing one? No matter which one it is, web scraping is the best way to collect #data for growing your business today. It will help you get valuable insights, and information about your latest competition, no matter what you deal with – products or services. Although web scraping has been going on for quite some time, it has never been as heavily used, or as reliable as it is today.

Setting up a new #business? Or trying to grow an existing one? No matter which one it is, web scraping is the best way to collect #data for growing your business today. It will help you get valuable insights, and information about your latest competition, no matter what you deal with – products or services. Although web scraping has been going on for quite some time, it has never been as heavily used, or as reliable as it is today.

Web scraping is the process of extracting data from a website or another source of information. Instead of waiting for long hours to copy-paste information, the 2020 edition of data extraction requires only a few minutes to scrape an entire piece of information.

Web scraping is great. It functions on the main criteria for every business which is data retrieval. In 2020 data is everything and web scraping ensures that you are getting a dose of all that in your business strategies.

Also Read: What is Web Scraping: Introduction, Applications and Best Practices

Many businesses fail to get their pricing strategies right. Pricing plays an important part in any b2b business and your brand must set it right. But with so many competitors, how can you identify which pricing strategy will win over your prospect’s attention? Here is when web scraping can help you.

Interesting Read: Top 15 Data Analytics Tools should use in 2020

With web scraping, you can easily scrape through all the pricing information online from various competitors and get the information in your system to monitor. As you analyze them, it becomes easier for you to set the price in which your prospects will revert in a good response.

The market will not be the same as it is right now. 5 years from now maybe the techniques or the solutions being offered now will be much more advanced. Hence it is important to always keep a track of what is happening in the market. But with such a restricted data platform, how can a brand like yours be able to prep for the new change?

Here is when web scraping can help you. With the data available online from researches or articles or even prospect information a brand like yours can use this as a great opportunity to collect the data which can help you to work on the creation of a solution which your prospects will favor a few years from now. You will also have an idea of how the market is changing and what the ideal image of the market is looking like from a prospect’s point of view. This all can contribute to the wellbeing and growth of your business.

Also Read: 30 Ways to Grow Your Business with Web Scraping

Lead generation is one of the most crucial processes in any business. With lead generation, a brand can tap leads and convert them into a potential sales lead. Hence web scraping understands the importance of this process and has a solution that can make your sales agents happy.

With web scraping, you can scrape through all the list of your leads from the social media handles, competitor’s source of information, and any other places where the lead actor is higher. This is great as not only are you receiving all the lead information such as their name, designation, email address, and phone numbers you are also speeding up the process of a lead generation much quicker for the business.

To be successful, pushing above your competitors is a good start. When you can perform better than your competitors that’s when your identity and your position continue to soar higher. But how would you know what your competitors are doing or what their next plan of action is?

Here is when web scraping can help you. With web scraping, right from their pricing strategies to what their prospects say about them can be easily scraped via the web scraping process. All this information can help in your business plans to mould and create the ideal solution prospects are looking for. Web scraping gives you the liberty to always keep a close eye on their competitors so that before they can levy the advantage, your brand would already be serving prospects’ attention much faster.

Brand identity can take minutes to fade away. Building up such a reputation takes years of hard work and in 2019 with the competition getting tough there are instances where identity damage is happening more than just being an occasion. Prospects, before they can even consider buying from you, are always on the lookout via the online platform to learn more about what your brand has to offer.

And so in this situation, if they find even one bad review that would be enough to turn their confidence into doubts about investing in your brand. Hence web scraping can be beneficial here. With web scraping, you can easily scrape through all the fraud and bad reviews and get them quickly eliminated. Conducting this action regularly keeps your brand’s identity intact as the elimination of bad reviews are taken care of immediately.

Social media is the hub where a brand can easily tap leads. Making use of social media is a great way for brands like yours to capture leads. Today everyone is on social media and if you aim to grow your lead count in a more organic manner, social media leads are what you need to look out for.

Social media is the place where you can easily engage with your prospects. From sharing relevant content to creating ads that will trigger attention, identifying what suits your prospect interest is the key to lead generation via this platform. Web scraping helps you to conduct this activity in a more hassle-free manner.

With web scraping you can scrape through significant information such as prospects interest on topics, their opinions, and feedbacks, what catches their interest, what pages are they liking more, what topics they want to learn about and much more. When you have all this information it becomes easier to create a solution that will not only promote your brand in a better way online but also help you create essential solutions which matter and will revert positive responses.

Did you know that SEO is another important factor that can help to capture leads? SEO content includes using the right keywords in content so that when your prospects want to find a solution, your content should be the first thing they see. But with so many keywords and content is already written online, how can a brand like you push away from the crowd and rank your content higher?

Also Read: https://hirinfotech.com/search-engine-scraping/

Here is when web scraping can help you. With web scraping, you can easily scrape through the common keywords being used by prospects as well as the topics which are garnering more interest and implement the same during your SEO presentations. You can also web scrape your competitor’s information to understand what keywords they are using so that the impact your SEO strategy becomes much better.

If a brand invests its time and money targeting the wrong audience, no good can come out of it.

Many businesses fail to understand who are the right audience for them. In order to conduct efficient lead generation, you first need to identify which leads are you targeting?

Web scraping can help you make this process much easier for you. With web scraping, you can scrape through those leads which have shown interest in the business you are in. For instance, say if you are a software company that is selling proxies for a living. Now when you are scraping the leads, you will aim at those individuals whose interest surrounds proxies.

When you capture them that is when you will be able to assist their proxies needs with your solutions. You can also scrape information from social handles who are selling the same solution as you and convert them into a sales lead by directing them towards what you have to offer.

Your solution can never be the same currently or 5 years from now. It needs to be constantly improvised and worked upon so that your prospects only receive the best from using it. The market changes, technology grows and the preferences and trends fade away with the launch of new ones, how can you improve your solution to match the standards?

Web scraping can help you. With web scraping, you can conduct automated scraping activities on a regular basis to keep up with the market changes, upcoming trends, prospect feedback, opinions shared about your type of business and the industry you were working on. All of these will keep you insightful and help you to improvise on a solution that will not just excel prospect’s expectations but also help you grow healthier in the long run.

Also Read: https://hirinfotech.com/web-scraping-solutions/

Not all your audiences are the same. One ad cannot suffice all your target audiences. The reason being a few of your prospects could either be a hot lead or a warm lead. So for warm leads, you may have to show more ads to them to completely convince them to reach out to you. For your existing leads, you might want to show them a different ad that speaks about any new updates on your products. Web scraping can make this process simpler for you. With web scraping, you can easily scrape through information such as prospect behavior, emotionally connect, and many other factors that will help you to create ads to target your various audiences.

While web scraping ensures that you are conducting the process hassle-freeArticle Submission, there is one more ingredient that can help you to conduct this process in a more secure manner. The use of proxy servers can ensure the right security measures web scraping activities.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

How web scraping matters in 2020

Web scraping is mostly practiced by tech companies and large corporations, but that doesn’t mean that other businesses can’t implement web scraping. Scraping the Internet for massive amounts of data requires a great deal of knowledge to do effectively and efficiently, which is why many businesses hire firms that specialize in web scraping.

Web scraping is mostly practiced by tech companies and large corporations, but that doesn’t mean that other businesses can’t implement web scraping. Scraping the Internet for massive amounts of data requires a great deal of knowledge to do effectively and efficiently, which is why many businesses hire firms that specialize in web scraping.

Data is a crucial asset that will continue to unfold the way businesses engage with potential prospects. Today data is the only factor that can strive for a brand to engage in the way their potential prospects expect from them. Data doesn’t just provide a solution to brands on the prospect’s exact needs, it also guides them towards how that need can be resolved.

Web scraping is the process of extracting data from a website or other source of information. The action is conducted because data isn’t that easily available. The online platform has pools of information that may or may not be easily accessible. Data that is accessible however cannot be downloaded.

Interesting Read: 30 Ways to Grow Your Business with Web Scraping?

Living in a generation where any queries are resolved with a tap of a button, conducting manual copy-pasting can be tiresome and honestly very time-consuming. The reason for data capture is easily interpreted for instance the need to sustain business growth, to find out about market conditions, to have a minute sense of predictions in the product growth and the list can go on.

Web scraping isn’t a task for the technical or individuals who indulge in coding. Today a normal individual like you and I can conduct efficient web scraping activities anytime, anywhere. To conduct web scraping activities, the process includes 3 easy steps:

1. Click on the website or the source of information you want to extract

2. The scraping process commences

3. The data is then saved in your system in the format you wish to see it in, for instance, CSV file.

In simpler terms, web scraping is required to capture data. As you know that for any brand to cater to their prospect’s needs, they first need to understand what the needs are in the first place. Similarly, whenever brands tend to conduct any action which is stressed more on lead driven activities, such actions need to be conducted with the right data in hand.

The online platform has data but not all of that data is relevant to you or might be some of the data that you are looking to retrieve may only be available on your competitor’s website or other brands website. You may be able to see it but you cannot constantly drive up to the screen each time you need that information right?

And as mentioned, copy-pasting is a decades-old tactic. If a brand aims to sell quicker and better prospects, having the right data and incorporating it at the right time on their solution can spark conversion rates higher which is exactly why web scraping is required.

Interesting Read: 10 reasons why web scraping is the perfect solution to retrieval of online data

There are tens and thousands of data available online but not all that data is relevant to help your business grow. As a brand you know what is required for your brand’s enrichment and hence with web scraping, extracting only that portion of essential data that can help brands succeed faster in their lead capture activities. For instance, if you want to scrape data from your competitor’s websites, web scraping makes that happen without the competitor’s website slowing down or having any risk of any brand conducting this action to be detected.

A brand can enhance its solution when it has the right data which exhibits the requirements needed to improvise the solution. Web scraping provides accurate data because all the data being driven is from sources that have been following it or from platforms where prospects have mentioned their opinion on their expectations about a particular product. All of this contributes a valuable data collection to brands which can help them to improvise their solution better. Since brands have an analysis of what their prospects are expecting, it becomes easier to adapt to the modifications and also plan out the next possible changes before the new trend hits.

A brand success can only be retained when a band continues to serve the needs of all its prospects even with each changing trend. But how can that happen when the trends have no time of their arrival? With the data collected, brands can have an idea, it might not be the exact prediction but a simple analysis of how their solution will be looked upon a few years from now. Not only that aspect, but brands can also have an analysis of how their prospects will look at a product.

For instance, maybe the current product offered by a brand is great, it has all the features and the prices are great, with web scraping you can get data which will help you analyze what more are prospects looking from the product for instance maybe they want few features to be automated or they want a specific feature and so on. Web scraping ensures that you get the data that can help you still cater to the prospect’s needs no matter the changes and still retain the success crown for longer.

The harsh truth is if you want to be successful, outselling your competitors can win you over some brownie points. With web scraping, you can easily scrape any information which will most likely help your brand to hover in front of your competitors. It could be their pricing strategies, their prospect reviews, and any other information which will most likely help in catering to your very own prospect needs.

The market is growing and changing all the time when it comes to conducting activities which can pull your brand closer to assisting their needs better, web scraping is an ideal tool for that action to take place.

To capture the ideal lead for a brand, it takes up a lot of research time to find the right audience which fits a brand’s target audience. Wouldn’t it be easier if you could just have a list that consists of the leads which can be interested in what your brand has to offer? Web scraping lets this happen. There are moments where you find leads in the most unimagined places, for instance, your blog post comments, or if someone has shared your post and even leads can be found within your peers activities as well such as their engagement sections of the individuals they interact with openly online, all these prospects stand as a potential sales lead for your brand.

With the help of web scraping, you can easily scrape such information, get their contact details as well as email addresses without breaking a sweat and conduct efficient cold calling and emailing on the spot. This not only saves a lot of time for the sales agents to find them through the crowd but also speeds up the process much quicker than imagined.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

Structured vs unstructured data getting to know the difference

With so many businesses placing an emphasis on collecting and analyzing data, it’s important to take a closer look at the forms that data can come in. #Data, after all, is the fuel that drives most companies nowadays. Even #industries not normally associated with cutting edge #technology are using massive amounts of data to gain a competitive advantage, lower costs, and optimize efficiency. The era of #bigdata is here, and more companies than ever before are seeking to utilize it.

 

With so many businesses placing an emphasis on collecting and analyzing data, it’s important to take a closer look at the forms that data can come in. #Data, after all, is the fuel that drives most companies nowadays. Even #industries not normally associated with cutting edge #technology are using massive amounts of data to gain a competitive advantage, lower costs, and optimize efficiency. The era of #bigdata is here, and more companies than ever before are seeking to utilize it.

 

Collecting and analyzing data plays a crucial role in the digital marketing world. So many businesses and enterprises emphasizing data collection that’s why it’s important to take a closer look at the forms that data come in. Basically, there are two types of data that businesses usually collect. They are structured and unstructured data and these two make up the sum of an organization’s data collection.

Therefore, both these types of data are essential in the modern digital enterprise; however, you must learn to manage them differently. This article will help you understand the difference between these two. So, keep reading to get the most out of both of them. Let’s tackle them one by one.

As the word structure itself suggests the data which is highly organized and neatly formatted. It is a type of data which can be put into table and spreadsheets. This data is also referred to as quantitative data. Most businesses collect transactional data as structured data which includes financial information that meets compliance standards. The best example of structured data is Consumer data.

Some more examples included in structured data are credit card numbers, financial amounts, dates, phone numbers, addresses, product names, etc.

As the word indicates, unstructured data isn’t organized or properly formatted. It is a significant challenge to collect, process, and analyze unstructured data. The unstructured data is also called qualitative data which covers everything that structured data doesn’t. Unstructured data grows larger every year and it becomes difficult for companies to manage.

Some examples of unstructured data: reports, audio, files, text files, social media comments, and opinions, emails, and many more.

From the above information, the differences between structured and unstructured data should become clear. Structured data is easy to gather, analyze, and store while unstructured data is unorganized and requires more work to properly investigate. Unstructured data also covers a lot more ground than the structured variety, with many more examples that are only growing as the internet continues to expand.

In a sense, unstructured data is similar to how we as humans process and analyze information. If you have a conversation with someone, all the information that is conveyed is done so in an unorganized fashion. Despite this, we’re still able to digest that data and understand it. Structured data, on the other hand, is more in line with how computers process data. It’s neatly organized and easy to analyze. Being able to analyze unstructured data through computer processes then becomes the challenge.

From the above points or explanations, the difference between structured data and unstructured data must be clear now. Structured data is easy to collect, analyze, and store. And unstructured data is unorganized and requires more work to properly analyze and investigate. However, for the overall success of the organization, enterprises need to properly and effectively analyze all of their dataFeature Articles, irrespective of the source of the type. You must know the difference between these two so that you can effectively use them in your marketing strategy.

We will be back with another interesting article till then get in touch with us and keep reading.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

Types of sentiment analysis and why do you need sentiment analysis

Every person has some kind of attitude towards things he experiences. We can like this handwritten notes feature in the smartphone but can’t stand the whole noise meter shebang. And there is also this face-lock thing that really puzzles us. It is a natural thing…

All this says something about an object in question.

Every person has some kind of attitude towards things he experiences. We can like this handwritten notes feature in the smartphone but can’t stand the whole noise meter shebang. And there is also this face-lock thing that really puzzles us. It is a natural thing…

All this says something about an object in question.

Sentiment Analysis is performed by splitting the text into individual entities such as phrases, words, or sentences. After this, the related topic to each word is identified and the score is assigned. What is the Sentiment Analysis?

In short, it helps identify the feelings of the customers using emoticons, texts, or images.

It helps data analysts to conduct market research, understand the reputation of a product, get public opinion, monitor their brand value, and understand their customer experience. When used effectively, it can be used to analyze social media streams and gauge public opinion. It can help you gather information on different aspects of the business as shown below.

Sentiment Analysis is simply gauging the feelings behind a piece of content or the attitude towards a piece of content whether it’s an article, comment, or opinion. At the most basic level, sentiment-analysis toolsclassify pieces of text as positive, negative, or neutral.        

There are different types of sentiment analysis. And, each of it helps your business in a different way- some help you find the emotion, while some the intention of your customers. Each of these will help you get closer to your customers and help in increasing your return on investment.

This is not about bucketing the sentiments of your customers into positive, negative, or neutral but ranking them with the level of positivity and negativity.

There are 5 categories:

Very positive

Positive

Neutral

Negative

Very negative

Very positive is ranked 5, positive is ranked 4, neutral is 3, negative is 2 and very negative is ranked 1, they help in determining the heights of the feeling a customer has towards your product.

Emotion detection is used to determine emotions such as anger, happiness, sadness, etc. Emotion detection systems use lexicons which is a list of words/emoticons that convey meaning. This helps you to quickly know what the mood of the customer is. Most often, customers might not give you feedback when you ask them to type in a text box.

This is used to analyze a specific feature of the product and not how the customer feels about the product as a whole. This allows you to concentrate on developing the areas that the customer feels there is a scope of improvement. For example, let us say you are buying a phone, the customer likes all the aspects of it, except for the front camera which may/may not be the key feature. feedback on that will help you improve and widen your target audience.

It is a process of getting feedback from customers of different languages and then analyzing them to get feedback. Let us assume that you have a large customer base, and people from different parts of the world will access your site. If you wish to get overall feedback from your customers, then it becomes a little tedious, because the text would be in different languages. You can easily use sentiment analysis here to find out the overall feedback.

Also Read: https://hirinfotech.com/how-to-scrape-data-from-web-pages-for-sentiment-analysis/

With the evolution and easy access to the internet, the emotions and sentiments of the people can be easily influenced. Let us consider a small example here, you are looking to book a resort in Air BnB when you look into the review section, you see that, there is a comment that says “not so good”. Now, the reason why the review said that could be anything. But, the human brain will not get into the nuances of it. Although the review is not specific to anything there are high chances that one could ignore the property and choose a different one.

In the same example, if the owner has replied back to the thread, either giving a valid reason or asking for more information, then there are chances that you might consider. This is because you find someone to be responsible. Sentiment analysis plays with your sentiments building and forming a trust. With social media, easily accessible people want to know others’ opinions on anything and everything. These sentiments can be positive, negative, or neutral. When it comes to business, the owner would want to know what their customers’ sentiments are to increase customer satisfaction.

A single bad comment can go viral and bring the whole brand down. Identifying and handling them the right way at the right time saves your business.

By identifying customers who feel negative about your service or product, you can reach out to them and make amendments. Let us say you have a customer who has left you a -.96 negative comment saying that he/she has ordered the product but has not got it in time, it gives you a chance to get in touch with them, cool them down and get the details of the order before they go ahead and cancel it. It gives you a room to show them that you are responsible for the business that you are doing.

Tracking customer sentiment is better than calculating the NPS (Net Promoter Score) of your product? It helps you in understanding why the score of your NPS has changed or the factors aligned to how things have changed.

It helps in understanding the different segments of your business. For example, what do people with a certain income base feel about your product? Is your product priced too much for them? How can you deliver at a rate that is affordable for them or how much would they be willing to pay for the service that you offer? You can also understand the behavior of the customers from this, such as why are returns from a certain area too high?

As the business plan changes so do customer sentiment. Let us assume that you have revamped your entire site, or released a new user interface, this will definitely have an effect on the customer sentiment. How would your customers feel when they have been using an interface for years now and one day they log in to find a new user interface? Some might like itArticle Search, while some may find it difficult. You can use sentiment analysis to find out if your campaign or effort is successful among your customers.

Every business will have promoters and detractors. It is not necessary that every customer has to take up the NPS survey to identify this. Using Sentiment analysis it is possible to identify the emotions of customers even without them taking up the survey.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

Hir Infotech is a leading global outsourcing company with its core focus on offering web scraping, data extraction, lead generation, data scraping, Data Processing, Digital marketing, Web Research services and developing web crawler, web scraper, web spiders, harvester, bot crawlers, and aggregators’ softwares. Our team of dedicated and committed professionals is a unique combination of strategy, creativity, and technology.

12 awesome and useful things to buy on amazon dont miss out

Amazon has some great useful products to buy, all you need to know is how to find them, which isn’t that hard, to begin with. However, we decided to round off some useful things to buy on Amazon so you don’t have to jog your mind. We hope this list proves to be of great use for you. Happy Shopping! 

Amazon has some great useful products to buy, all you need to know is how to find them, which isn’t that hard, to begin with. However, we decided to round off some useful things to buy on Amazon so you don’t have to jog your mind. We hope this list proves to be of great use for you. Happy Shopping! 

Amazon, a space shared by around one million things you may want and another seven million alternatives for each one of them, has become the all in one resource for buying tech gadgets online. The E-Commerce business top dog has a colossal choice where you’ll discover commonly recognized tech gadgets at low costs and the Prime delivery (2 days or 2 hours) that works well for those among us who are indulgent people for a moment delight.

Yet, a massive range can be time-consuming and eventually costly to uncover what’s truly worth spending your cash on, and which rational tech gadget choices are comparative or better in execution to their more extravagant rivals. The best escape is to get for opinions from folks you trust.

But hey! What are we here for?

Coolest things for you to buy on Amazon

1) LifeStraw Personal Water Filter 

There are probably more significant benefits for LifeStraw than you’ve presumably thought of. It’s primarily for hiking and outdoors, yet additionally for voyaging, emergencies, and catastrophic events. LifeStraw never lapses, so whether you’re keeping one of a survival kit in your vehicle or carport or taking it for a path run, this product will make it sure to have clean water anyplace you go.

 2) Mr. Espresso Mug Warmer

 Do you or somebody you know get up multiple times each morning to warm your mug of espresso? We get your pain! Hitch this cup hotter and join the reviewer’s happy club, who are stating a no-no to cold espresso and tea after using this product.

 3) Fujifilm Instax Mini 9 Instant Camera   

GenZ, particularly recent college grads, love these Fujifilm moment cameras. They’re a fun and famous approach to catch moments instead of having all your photographs in the cloud on your cell phone. Additionally, the cameras come in five delightful tones.

 4) Wemo Mini Smart Plug 

As purchasers begin changing over the entirety of their devices to smart gadgets, these smart plugs make it a simple and straightforward cycle. Control your lights and apparatuses from anyplace through your telephone, Amazon Alexa, or Google Assistant.

This smart plug requires Wi-Fi, and it accompanies highlights like Away Mode, which will randomize the occasions your lights proceed to make it seem as though you’re home in any event when you’re not.

 5) URPOWER Essential Oil Diffuser 

A 4.5-star rating merits the venture. There are tons to browse on Amazon; however, why not go with the top of the line one? It has a LED light that goes through tones when being used.

6) Amazon Echo Dot

 It’s nothing shocking that a standout amongst other selling gadgets is Amazon’s own, considering how much reach they jump on the site.

The Echo Dot third Generation is a voice-controlled gadget that utilizes Alexa, your new BFF, to do everything from adding new items to your Amazon shopping basket to playing music and telling you about the climate.

7) Kindle Paperwhite E-Reader 

The new Kindle Paperwhite is genuinely outstanding, and tech nerds love that it’s waterproof. Avid readers will appreciate not hauling those enormous hardcovers around with them anymore.

 8) Amazon Fire HD 8 Tablet 

The Fire Tablet resembles a convenient entertainment place that is ideal for itinerant, and it likewise serves as a tablet. You can watch from different sites, and applications like Netflix, Hulu, HBO, and that’s just the beginning, in addition to mess around and video talk with companions.

With 4.4 stars, it’s perfect to state this is the reasonable ideal option compared to an iPad. 

9) Anker PowerCore 10000 External Battery 

This tech gadget super minimal and gives more than three iPhone charges or more than two Galaxy charges. You’ll never chase for a socket again! Anker’s PowerCore accompanies the charger, a miniature USB link, and a travel pocket.

 10) Anker Soundcore Spirit Pro Wireless Headphones 

In case you’re searching for a modest pair of remote earphones that lands the position, this Anker Soundscore pair is ideal. The low cost joined with excellent is the thing that makes them so mainstream.

 11) Echo Flex

On the off chance that you need to place Alexa in each room of your home, stock up on the Echo Flex. It’s a minuscule speaker and amplifier that you plug directly into any socket outlet. It additionally includes a USB port at its base, which can be utilized for embellishments like a night light or movement sensor.

 12) Amazon Luna Controller 

Amazon Luna is the tech monster’s new cloud-gaming prop, which lets gamers play their preferred titles in a flash any place you have a web association. The service utilizes Amazon’s Web Services to effectively transfer games to their Fire TV, PC, Mac, iPhone, or iPad.

Gamers can play Luna with a console and mouse, yet we suggest binge spending on this tech gadget. It interfaces legitimately to the cloud so you can play your games without the irritations of blending or agonizing over your catch presses faltering.

  

STAND OUT PRODUCT

13) Wireless Charger with Adapter, Coobetter 3 out of 1 Wireless Charging Station, Wireless Charging Stand Watch Charger Compatible with iPhone 11/11 professional/11 Pro Max/Xs/XS Max/XR/X/8/8P

 Furnished with a flexible, attractive metal help plate, Coobetter remote charging station supports to alter your telephone and apple watch charging module to an ideal point. You can relish videos, tune in to music, or talk while charging and with a foldable and sharp design, making it helpful to fit it in the rucksack while voyaging.

7.5W quick charging mode for iPhone 11/11 Pro/Xs/XR/X/8/8 Plus; 10W for Samsung Galaxy S10/S10+/S9/S9+/S8/S8+/S7/7+, NOTE 9/8/7; Wireless charger 3 of everyone accusing station remain of iPhone android quick charge dock volt charger professional 3 out of 1 5W for some other Qi-empowered gadgets.

A wide charging range will all the more adequately spread the remote charging zone for full directional execution and charges your telephone vertically or on a level plane. The watch has temperature control. At the point when the temperature arrives at 40 degrees, it will quit charging naturally. On the off chance that the weather is ordinary, it will keep on charging.

The small charge doesn’t scratch iPhone/iWatch/AirPods to hinder the screen or the edges while charging the gadget. The charging stand shrouds the iWatch and AirPods Pro linksFind Article, sparing you space around your work area.

We hope you’ll try and enjoy the tech gadgets we’ve recommended. Scroll on to Amazon to shop for these treasures. Happy Shopping!

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR

Paul Mark Stevens is a digital marketer who is a tech enthusiast and enjoys writing about technology, specifically about tech gadgets. He is currently working for Crack Gadgets, an Amazon Affiliate.  

Paul Mark Stevens is a digital marketer who is a tech enthusiast and enjoys writing about technology, specifically about tech gadgets. He is currently working for Crack Gadgets, an Amazon Affiliate.  

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