Omri Orgad, Regional Managing Director of Bright Data, discusses the role web data collection plays in digital transformation initiatives
Web data collection is crucial in helping businesses achieve true digital transformation.
The concept of ‘digital transformation’ has grown from a buzzword to a reality in recent years. It can be defined in many ways and can take many forms: from setting up a mobile app or website to digitally reformatting a company’s entire database. Often times, digital transformation can seem more complex than it actually is. For some it means upgrading current servers to new ones, while for others it means adopting new applications to communicate internally. Most people understand digital transformation like adopting IoT devices and moving to 5G. Whatever your perspective, digital transformation is a way to combine, simplify and integrate processes, data and technology into a practical and functional layer within an organization.
The way we use and consume data has changed dramatically. Today, data is helping to support new business models and fuel a customer-centric approach to transformation. Every interaction that takes place in the public domain produces large volumes of data. This publicly available web data is a key driver of digital transformation and plays a crucial role in influencing business information, development and decision making.
Study By Market Research Experts Vanson Bourne Finds 64% Of Organizations That Rely On Alternative Data Sources When Developing Business Strategies Say Alternative Data Impacts Their Investment Strategy , and 59% say they affect their customer experience strategy. Even Forrester’s research highlights the impact of data when companies make less than 50% of their decisions based on quantitative information rather than hunch, experience, or opinion. Web Data and its many alternative data subsets play a key role for businesses when it comes to digital transformation processes, informed decision-making, and improving their business reasoning.
So where is web data collection and why is it crucial in helping businesses execute true digital transformation? Here are the three main reasons:
1. Web data collection brings your physical business online
COVID-19 has rewritten the rules for many businesses. With an increase in the number of online consumers, the chances that physical businesses will ever return to their pre-pandemic mode of operation are extremely slim. The rapid digital change we have experienced over the past 18 months has propelled companies into a new kind of market shaped by new rules, goals and standards. However, going completely online is not always a seamless process. To make the process as smooth as possible, businesses should use publicly available web data to gain additional insight into their competitors, market movements, and consumer behavior.
Collecting public data is a transparent way to get such information. Not only does it offer accurate market research data to all market players, but it also allows them to compete openly. This huge source of data helps businesses in many industries – from e-commerce to real estate to retail – adapt to new trends and make informed business decisions, now and in the future. Collecting public web data has become the primary resource for fast and efficient decision making, profitability and innovation, and is the key to digital transformation.
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2. Web data collection is a strategic priority for the digital transformation of an organization
Competing organizations in the emerging digital economy will need to make faster, forward-looking decisions, based on some form of logic or rationale. While information as an asset is still in its infancy, it presents a competitive advantage for forward-thinking organizations in their quest for digital transformation. According to Gartner, by 2022, 90% of business strategies will explicitly mention information or data as a critical business asset and analytics as a necessary skill. Organizations that do not have such capabilities will be at a disadvantage compared to their competitors.
3. Web data collection deciphers the complexity of digital transformation
Over 2.5 quintillion bytes of data are generated every day. This huge web-based database can be problematic as it is not equally transparent to everyone. Competitors often get stuck while retrieving data – even when it is public data – or may experience issues accessing data in their various target regions. To help solve this problem, companies like ours are able to provide transparent and advanced platforms and tools for all organizations to freely access web data, allowing them to learn from some of the most important information. relevant in a timely manner.
It’s no secret that the data itself is complex. It’s raw, unstructured and abundant. With so much data at their fingertips, it’s easy for organizations to get overwhelmed and start tapping into irrelevant data as they seek to digitally transform their operations. It is therefore crucial to ensure that only the most relevant and reliable data is collected to ensure informed and precise decision-making that allows businesses to grow and achieve their goals.
The best way to decipher large amounts of data is to decide what kind of data is needed to meet your business’ digital transformation goals. There are a number of steps you can take to do this. First, you need to redefine each customer’s journey and use that real-time data in your analysis. Next, you need to focus on accessing quality data that you can trust. The best approach for this is to start small and then scale up using cutting edge automated tools. A retailer, for example, can look at the top ten searches for brands in a particular European region during a certain holiday period to identify the next best items to offer for sale. Taking raw data sets and converting them into information will improve your decision making. However, it’s important to remember that this is a complex, step-by-step process that warrants cutting-edge technology.
This is no walk in the park for any web data collection company that needs to deploy certain API technologies and processes. An API platform is needed to automate data delivery, ensure seamless team collaboration, and eliminate manual tasks associated with databases, infrastructure, and security management. It is critical that organizations invest in a web data platform that can deliver the data they need all the time. This means that organizations no longer rely on guesswork to shape their decision making. They can count on a source that will hold a mirror of their true reality: the World Wide Web.