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Competitor price monitoring can help you react quickly to shifts in pricing and prevent losses. It can help you drive more sales to your online store since you are able to avoid overpricing products. But a few online store owners are taking advantage of price monitoring.

Competitor price monitoring can be hugely advantageous to most businesses. Understanding the competitor's pricing, product range and special offers can give you a competitive edge. This basically means that you will have a certain advantage over your competition. If you have no idea of what others in business are doing then it can turn out to be costly and disastrous for your business.

Competitor price monitoring can be hugely advantageous to most businesses. Understanding the competitor's pricing, product range and special offers can give you a competitive edge. This basically means that you will have a certain advantage over your competition. If you have no idea of what others in business are doing then it can turn out to be costly and disastrous for your business.

"Globalisation has not treated everyone equally," added Zeljka Kozul-Wright, chief of the LDCs section at UNCTAD. "LDCs are on the losing side because of their dependence on commodities export. During the boom period, dependence on commodities export increased while manufacturing sectors declined."

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In today's very dynamic online marketplace, retailers are doing all it takes to get the most customers. Competitor price monitoring has become an important solution to retailers especially eCommerce businesses which want to make critical decisions on pricing.

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Data scraping works in three processes so as to be effective. The first step will be pre-processing where a large amount of the required data is collected. The second step is the mining process whereby the data is cleaned up. Errors are corrected and the information is sorted into relevant sections at this stage. The final step is referred to as validation whereby the information is authenticated to make sure that it is indeed information your business can use successfully.

If you run a business, you want to be aware of what the competition is up to so that you are always ahead of the game. This necessitates you to carry out market research so that you get the relevant information which can help you to progress. However, the best and easiest way to go about this is through web scraping.