Many different business models are available, all with their own pros and cons. However, one of the key elements many businesses benefit from is data aggregation. You can use data aggregation in various ways, from supplementing product reviews to using this Google Hotel API to find the best accommodation deals. Below, we explore the ins and outs of data aggregation and what it means for business models.
Web Scraping
The aggregating of data starts with data collection, such as web scraping. Web scraping is when you use a tool or program to gather information from multiple online sources automatically. The information you collect is initially in its raw HTML format, which means it’s not easy to read or understand. The web scraper will search for information based on the keywords you provide and ensure you only receive relevant data.
Data Acquisition
When talking about data acquisition in this article, we don’t mean the DAQ process in which one measures a physical phenomenon and changes it into a digital form. Instead, we literally mean acquiring data through using web scraping. Many of the best web scrapers have a built-in data parser, which changes the raw HTML format into text that’s easily readable. Often, this readable format is an Excel spreadsheet or CSV format. This tool lets you consolidate the information and easily find the required statistics and data.
Customer Tracking
Another use of web scraping is customer tracking. Knowing who your customers are is essential if a business aims to become successful. Customer tracking lets you build a more comprehensive database with information like your consumer’s name, location, shopping habits, and more. Customer tracking allows businesses to create a more personalized profile for their clientele, which results in targeted offers and better deals.
Use of Data Aggregation
Many business models use data aggregation to ensure they’re working with the latest information. You can use it for marketing purposes or to supplement your offering. It can even be the product you’re offering! Below, we look at the primary ways you can aggregate data and use it in your business strategy.
Best Flights
As a traveling agency, it’s possible to aggregate the latest information on the best flights to various locations. As such, if you scrape several flight agencies’ websites, then you find the latest real-time deals and offers listed. After you consolidate all the best deals, you’re able to offer them to your clients, who can browse different airlines to find one that works for them.
Property Listings
You can use property listings data aggregation in multiple ways. One is from the side of an independent estate agent or a person working in real estate. It’s possible to explore the current properties in the market and find ones that offer good value for money.
One option is to list these on an independent website for any buyers not sure what they want and help put them into contact with real estate agents. This is a form of an aggregator business model and relies heavily on constant real-time data. Another way to use aggregated data is if you’re looking to buy yourself and resell, you can use it to find excellent offers in the market first.
Alternatively, you can use a tool like a Google Hotel API, which looks for the best deals in accommodation. People rarely search for one specific accommodation listing. Generally, they’ll browse various deals, and you can be the site offering those deals. There are many structures in place for accommodation offers.
For example, you’re able to make a deal with the hotels to receive a commission for any guest booking at their property through your site. You can also buy rooms for a lower price and then resell them at a higher price to your clients.
Marketing Agencies
Another way to use the information is to learn the latest trends and customer preferences in the market. As a marketing agency, you can collect all the information and sell access to it to another company. In this way, you provide the aggregated data to other businesses to use as best fits them. It also lets you better design a successful marketing plan, as you know what people currently want and the current marketing strategy trends that work best.
Others
There are various other ways data aggregation can help your business model. One option is if you’re a smaller online retail company structured like Amazon and don’t have a lot of reviews about products, you can scrape the web for actual comments on this item. This gives your clients more feedback on the product, and the best is that it’s authentic user reviews.
You can also add other unique elements to your site, like gathering information to present an accurate clothing size scale or creating a complete tourism website where customers can purchase an all-in-one tour package.
Enjoy Access to the Latest Deals
Data aggregation is a critical part of designing any successful business model, and there are various ways to put tools like the Google Hotel API to use when collecting data. Ensure you know the latest market information and become a hub of excellent deals and offers to your clients.
Also Read: What Are Data-Driven Projects Or Business Architectures?
