Whether you’re starting a new project or developing a new strategy for an existing firm, you’ll need to access and evaluate a massive quantity of data. Web scraping comes into play here.
You might make the case that web scraping is beneficial in one or two industries. But you will be amazed to know that Web Scraping works brilliantly for multiple industries. Today, we will discuss the advantages of web scraping in equity & financial research.
What Is Web Scraping?
Assume that data is critical to your e-commerce business. You may view the data on your competitor’s website. The question is, how are you going to obtain it in a useable format?
Most individuals would only be able to manually copy and paste. It is not possible when you have to do it for huge websites with hundreds of pages and huge data. Here’s where web scraping comes in.
Web Scraping is the practice of automating Data Aggregation in an effective and timely manner. It allows you to scrape data from any website, no matter how huge the data, and save it to your PC.
Equity and Financial Research:
Aggregated News Articles:
In the sector of finance and insurance, the news is a valuable source of information. It is, however, impossible to read every newspaper and every article by hand.
As a result, web data extraction is utilized to collect useful inputs from various news items, headlines, and so on in order to transform them into actionable investing ideas.
Market Data Aggregation:
While there is a wealth of market data available on the internet, it is dispersed among tens of thousands of websites.
You can search and scan the search results, but it takes too much time and is tiresome.
In Equity Research, online scraping is significantly utilized for Data Aggregation from various websites and derives relevant insight from these sites.
Insurance:
There is a rising tendency among insurance firms to analyze alternative data in order to identify risks, etc., in order to design their products and policies.
However, they are unable to exploit this data by physically copying or saving it.
As a result, insurance firms use Web data extraction to gather alternative data and make choices about insurance goods and policies.
Financial Statement Extraction:
Analysts require financial documents in order to assess a company’s health and advise their clients on whether or not to invest in it.
However, manually obtaining financial statements from many firms for multiple years is not viable.
Web Scraping is readily used to gather financial statements from various sites and for innumerable time periods for further research and investment choices.
Other industries include manufacturing, retail, data science, risk management, sales, marketing and product management, academic, data journalism, news, and reputation monitoring, employment, non-profit, and so on.
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