Data Mining and Financial Data Analysis

Data Mining and Financial Data Analysis

Introduction:

Most marketers understand the value of collecting financial data, but also realize the challenges of leveraging this knowledge to create intelligent, proactive pathways back to the customer. Data mining - technologies and techniques for recognizing and tracking patterns within data - helps businesses sift through layers of seemingly unrelated data for meaningful relationships, where they can anticipate, rather than simply react to, customer needs as well as financial need. In this accessible introduction, we provides a business and technological overview of data mining and outlines how, along with sound business processes and complementary technologies, data mining can reinforce and redefine for financial analysis.

Objective:

1. The main objective of mining techniques is to discuss how customized data mining tools should be developed for financial data analysis.

2. Usage pattern, in terms of the purpose can be categories as per the need for financial analysis.

3. Develop a tool for financial analysis through data mining techniques.

Data mining:

Data mining is the procedure for extracting or mining knowledge for the large quantity of data or we can say data mining is "knowledge mining for data" or also we can say Knowledge Discovery in Database (KDD). Means data mining is : data collection , database creation, data management, data analysis and understanding.

There are some steps in the process of knowledge discovery in database, such as

1. Data cleaning. (To remove nose and inconsistent data)

2. Data integration. (Where multiple data source may be combined.)

3. Data selection. (Where data relevant to the analysis task are retrieved from the database.)

4. Data transformation. (Where data are transformed or consolidated into forms appropriate for mining by performing summary or aggregation operations, for instance)

5. Data mining. (An essential process where intelligent methods are applied in order to extract data patterns.)

6. Pattern evaluation. (To identify the truly interesting patterns representing knowledge based on some interesting measures.)

7. Knowledge presentation.(Where visualization and knowledge representation techniques are used to present the mined knowledge to the user.)

Data Warehouse:

A data warehouse is a repository of information collected from multiple sources, stored under a unified schema and which usually resides at a single site.

Text:

Most of the banks and financial institutions offer a wide verity of banking services such as checking, savings, business and individual customer transactions, credit and investment services like mutual funds etc. Some also offer insurance services and stock investment services.

There are different types of analysis available, but in this case we want to give one analysis known as "Evolution Analysis".

Data evolution analysis is used for the object whose behavior changes over time. Although this may include characterization, discrimination, association, classification, or clustering of time related data, means we can say this evolution analysis is done through the time series data analysis, sequence or periodicity pattern matching and similarity based data analysis.

Data collect from banking and financial sectors are often relatively complete, reliable and high quality, which gives the facility for analysis and data mining. Here we discuss few cases such as,

Eg, 1. Suppose we have stock market data of the last few years available. And we would like to invest in shares of best companies. A data mining study of stock exchange data may identify stock evolution regularities for overall stocks and for the stocks of particular companies. Such regularities may help predict future trends in stock market prices, contributing our decision making regarding stock investments.

Eg, 2. One may like to view the debt and revenue change by month, by region and by other factors along with minimum, maximum, total, average, and other statistical information. Data ware houses, give the facility for comparative analysis and outlier analysis all are play important roles in financial data analysis and mining.

Eg, 3. Loan payment prediction and customer credit analysis are critical to the business of the bank. There are many factors can strongly influence loan payment performance and customer credit rating. Data mining may help identify important factors and eliminate irrelevant one.

Factors related to the risk of loan payments like term of the loan, debt ratio, payment to income ratio, credit history and many more. The banks than decide whose profile shows relatively low risks according to the critical factor analysis.

We can perform the task faster and create a more sophisticated presentation with financial analysis software. These products condense complex data analyses into easy-to-understand graphic presentations. And there's a bonus: Such software can vault our practice to a more advanced business consulting level and help we attract new clients.

To help us find a program that best fits our needs-and our budget-we examined some of the leading packages that represent, by vendors' estimates, more than 90% of the market. Although all the packages are marketed as financial analysis software, they don't all perform every function needed for full-spectrum analyses. It should allow us to provide a unique service to clients.

The Products:

ACCPAC CFO (Comprehensive Financial Optimizer) is designed for small and medium-size enterprises and can help make business-planning decisions by modeling the impact of various options. This is accomplished by demonstrating the what-if outcomes of small changes. A roll forward feature prepares budgets or forecast reports in minutes. The program also generates a financial scorecard of key financial information and indicators.

Customized Financial Analysis by BizBench provides financial benchmarking to determine how a company compares to others in its industry by using the Risk Management Association (RMA) database. It also highlights key ratios that need improvement and year-to-year trend analysis. A unique function, Back Calculation, calculates the profit targets or the appropriate asset base to support existing sales and profitability. Its DuPont Model Analysis demonstrates how each ratio affects return on equity.

Financial Analysis CS reviews and compares a client's financial position with business peers or industry standards. It also can compare multiple locations of a single business to determine which are most profitable. Users who subscribe to the RMA option can integrate with Financial Analysis CS, which then lets them provide aggregated financial indicators of peers or industry standards, showing clients how their businesses compare.

iLumen regularly collects a client's financial information to provide ongoing analysis. It also provides benchmarking information, comparing the client's financial performance with industry peers. The system is Web-based and can monitor a client's performance on a monthly, quarterly and annual basis. The network can upload a trial balance file directly from any accounting software program and provide charts, graphs and ratios that demonstrate a company's performance for the period. Analysis tools are viewed through customized dashboards.

PlanGuru by New Horizon Technologies can generate client-ready integrated balance sheets, income statements and cash-flow statements. The program includes tools for analyzing data, making projections, forecasting and budgeting. It also supports multiple resulting scenarios. The system can calculate up to 21 financial ratios as well as the breakeven point. PlanGuru uses a spreadsheet-style interface and wizards that guide users through data entry. It can import from Excel, QuickBooks, Peachtree and plain text files. It comes in professional and consultant editions. An add-on, called the Business Analyzer, calculates benchmarks.

ProfitCents by Sageworks is Web-based, so it requires no software or updates. It integrates with QuickBooks, CCH, Caseware, Creative Solutions and Best Software applications. It also provides a wide variety of businesses analyses for nonprofits and sole proprietorships. The company offers free consulting, training and customer support. It's also available in Spanish.

ProfitSystem fx Profit Driver by CCH Tax and Accounting provides a wide range of financial diagnostics and analytics. It provides data in spreadsheet form and can calculate benchmarking against industry standards. The program can track up to 40 periods.

Source : http://ezinearticles.com/?Data-Mining-and-Financial-Data-Analysis&id=2752017

Importance of Data Mining Services in Business

Importance of Data Mining Services in Business

Data mining is used in re-establishment of hidden information of the data of the algorithms. It helps to extract the useful information starting from the data, which can be useful to make practical interpretations for the decision making.
It can be technically defined as automated extraction of hidden information of great databases for the predictive analysis. In other words, it is the retrieval of useful information from large masses of data, which is also presented in an analyzed form for specific decision-making. Although data mining is a relatively new term, the technology is not. It is thus also known as Knowledge discovery in databases since it grip searching for implied information in large databases.
It is primarily used today by companies with a strong customer focus - retail, financial, communication and marketing organizations. It is having lot of importance because of its huge applicability. It is being used increasingly in business applications for understanding and then predicting valuable data, like consumer buying actions and buying tendency, profiles of customers, industry analysis, etc. It is used in several applications like market research, consumer behavior, direct marketing, bioinformatics, genetics, text analysis, e-commerce, customer relationship management and financial services.

However, the use of some advanced technologies makes it a decision making tool as well. It is used in market research, industry research and for competitor analysis. It has applications in major industries like direct marketing, e-commerce, customer relationship management, scientific tests, genetics, financial services and utilities.

Data mining consists of major elements:

    Extract and load operation data onto the data store system.
    Store and manage the data in a multidimensional database system.
    Provide data access to business analysts and information technology professionals.
    Analyze the data by application software.
    Present the data in a useful format, such as a graph or table.

The use of data mining in business makes the data more related in application. There are several kinds of data mining: text mining, web mining, relational databases, graphic data mining, audio mining and video mining, which are all used in business intelligence applications. Data mining software is used to analyze consumer data and trends in banking as well as many other industries.

Outsourcing Web Research offer complete Data Mining Services and Solutions to quickly collective data and information from multiple Internet sources for your Business needs in a cost efficient manner.

Sourec : http://ezinearticles.com/?Importance-of-Data-Mining-Services-in-Business&id=2601221

Data Extraction Services For Better Outputs in Your Business

Data Extraction Services For Better Outputs in Your Business

Data Extraction can be defined as the process of retrieving data from an unstructured source in order to process it further or store it. It is very useful for large organizations who deal with large amount of data on a daily basis that need to be processed into meaningful information and stored for later use. The data extraction is a systematic way to extract and structure data from scattered and semi-structured electronic documents, as found on the web and in various data warehouses.

In today's highly competitive business world, vital business information such as customer statistics, competitor's operational figures and inter-company sales figures play an important role in making strategic decisions. By signing on this service provider, you will be get access to critivcal data from various sources like websites, databases, images and documents.

It can help you take strategic business decisions that can shape your business' goals. Whether you need customer information, nuggets into your competitor's operations and figure out your organization's performance, it is highly critical to have data at your fingertips as and when you want it. Your company may be crippled with tons of data and it may prove a headache to control and convert the data into useful information. Data extraction services enable you get data quickly and in the right format.

Few areas where Data Extraction can help you are:

    Capturing financial data
    Generating better sales leads
    Conducting market research, survey and analysis
    Conducting product research and analysis
    Track, extract and harvest product pricing data
    Searching for specific job postings
    Duplicating an online database
    Acquiring real estate data
    Processing auction information
    Searching online newspapers for latest pricing information
    Extracting and summarize news stories from online news sources

Outsourcing companies provide custom made data extraction services to the client's requirements. The different types of data extraction services;

    Web extraction
    Database extraction

Outsourcing is the beneficial option for large organizations seeking to manage large information. Outsourcing this services helps businesses in managing their data effectively, which in turn enables business to experience an increase in profits. By outsourcing, you can certainly increase your competitive edge and save costs too!

This article is courtesy of Web Scraping Expert - an executive at Outsourcing Web Research offer high quality and time bound comprehensive range of data extraction services at affordable rates. For more info please visit us at: http://www.webscrapingexpert.com/ or directly send your requirements at: info@webscrapingexpert.com

Source:http://ezinearticles.com/?Data-Extraction-Services-For-Better-Outputs-in-Your-Business&id=2760257

Increasing Accessibility by Scraping Information From PDF

Increasing Accessibility by Scraping Information From PDF

You may have heard about data scraping which is a method that is being used by computer programs in extracting data from an output that comes from another program. To put it simply, this is a process which involves the automatic sorting of information that can be found on different resources including the internet which is inside an html file, PDF or any other documents. In addition to that, there is the collection of pertinent information. These pieces of information will be contained into the databases or spreadsheets so that the users can retrieve them later.

Most of the websites today have text that can be accessed and written easily in the source code. However, there are now other businesses nowadays that choose to make use of Adobe PDF files or Portable Document Format. This is a type of file that can be viewed by simply using the free software known as the Adobe Acrobat. Almost any operating system supports the said software. There are many advantages when you choose to utilize PDF files. Among them is that the document that you have looks exactly the same even if you put it in another computer so that you can view it. Therefore, this makes it ideal for business documents or even specification sheets. Of course there are disadvantages as well. One of which is that the text that is contained in the file is converted into an image. In this case, it is often that you may have problems with this when it comes to the copying and pasting.

This is why there are some that start scraping information from PDF. This is often called PDF scraping in which this is the process that is just like data scraping only that you will be getting information that is contained in your PDF files. In order for you to begin scraping information from PDF, you must choose and exploit a tool that is specifically designed for this process. However, you will find that it is not easy to locate the right tool that will enable you to perform PDF scraping effectively. This is because most of the tools today have problems in obtaining exactly the same data that you want without personalizing them.

Nevertheless, if you search well enough, you will be able to encounter the program that you are looking for. There is no need for you to have programming language knowledge in order for you to use them. You can easily specify your own preferences and the software will do the rest of the work for you. There are also companies out there that you can contact and they will perform the task since they have the right tools that they can use. If you choose to do things manually, you will find that this is indeed tedious and complicated whereas if you compare this to having professionals do the job for you, they will be able to finish it in no time at all. Scraping information from PDF is a process where you collect the information that can be found on the internet and this does not infringe copyright laws.

Source:http://ezinearticles.com/?Increasing-Accessibility-by-Scraping-Information-From-PDF&id=4593863

Collecting Data With Web Scrapers

Collecting Data With Web Scrapers

There is a large amount of data available only through websites. However, as many people have found out, trying to copy data into a usable database or spreadsheet directly out of a website can be a tiring process. Data entry from internet sources can quickly become cost prohibitive as the required hours add up. Clearly, an automated method for collating information from HTML-based sites can offer huge management cost savings.

Web scrapers are programs that are able to aggregate information from the internet. They are capable of navigating the web, assessing the contents of a site, and then pulling data points and placing them into a structured, working database or spreadsheet. Many companies and services will use programs to web scrape, such as comparing prices, performing online research, or tracking changes to online content.

Let's take a look at how web scrapers can aid data collection and management for a variety of purposes.

Improving On Manual Entry Methods

Using a computer's copy and paste function or simply typing text from a site is extremely inefficient and costly. Web scrapers are able to navigate through a series of websites, make decisions on what is important data, and then copy the info into a structured database, spreadsheet, or other program. Software packages include the ability to record macros by having a user perform a routine once and then have the computer remember and automate those actions. Every user can effectively act as their own programmer to expand the capabilities to process websites. These applications can also interface with databases in order to automatically manage information as it is pulled from a website.

Aggregating Information

There are a number of instances where material stored in websites can be manipulated and stored. For example, a clothing company that is looking to bring their line of apparel to retailers can go online for the contact information of retailers in their area and then present that information to sales personnel to generate leads. Many businesses can perform market research on prices and product availability by analyzing online catalogues.

Data Management

Managing figures and numbers is best done through spreadsheets and databases; however, information on a website formatted with HTML is not readily accessible for such purposes. While websites are excellent for displaying facts and figures, they fall short when they need to be analyzed, sorted, or otherwise manipulated. Ultimately, web scrapers are able to take the output that is intended for display to a person and change it to numbers that can be used by a computer. Furthermore, by automating this process with software applications and macros, entry costs are severely reduced.

This type of data management is also effective at merging different information sources. If a company were to purchase research or statistical information, it could be scraped in order to format the information into a database. This is also highly effective at taking a legacy system's contents and incorporating them into today's systems.

Overall, a web scraper is a cost effective user tool for data manipulation and management.

source: http://ezinearticles.com/?Collecting-Data-With-Web-Scrapers&id=4223877

How Xpath Plays Vital Role In Web Scraping

How Xpath Plays Vital Role In Web Scraping

XPath is a language for finding information in structured documents like XML or HTML. You can say that XPath is (sort of) SQL for XML or HTML files. XPath is used to navigate through elements and attributes in an XML or HTML document.

To understand XPath we must be clear about elements and nodes which are the building blocks of XML and HTML. Let’s talk about them. Here is an example element in an HTML document:

   <a class=”hyperlink” href=http://www.google.com>google</a>

Copy the above text to a file, name it as sample.html and open it in a browser. This will end up as a text link displaying the words “google” and it will take you to www.google.com. For each element there are three main parts: The type, the attributes, andthe text. They are listed below:

 a                                 Type
class,  href                Attributes
google                       Text

Let’s grab some XPath developer tools. I am on Firebug for Firefox or you can use Chrome’s developer tools. We will now form some XPath expressions to extract data from the above element. We will also verify the XPath by using Firebug Console.

For extracting the text “google”:

   //a[@href]/text()   

   //a[@class=”hyperlink”]/text()
 
For extracting the hyperlink i.e. ”www.google.com” :

   //a/@href
//a[@class=”hyperlink”]/@href

That’s all with a single element but in reality, you need to deal with more complex forms.

Let’s proceed to the idea of nodes, and its familial relationship of HTML elements. Look at this example code:

 <div title=”Section1″>

   <table id=”Search”>

       <tr class=”Yahoo”>Yahoo Search</tr>

       <tr class=”Google”>Google Search</tr>

   </table>

</div>

 Notice the </div> at the bottom? That means the table and tr elements are contained within the div. These other elements are considered descendants of the div. The table is a child, and the tr is a grandchild (and so on and so forth). The two tr elements are considered siblings each other. This is vital, as XPath uses these relationships to find your element.

So suppose you want to find the Google item. Any of the following expressions will work:

   //tr[@class=’Google’]
   //div/table/tr[2]
  //div[@title=”Section1″]//tr

So let’s analyze the expressions. We start at the top element (also known as a node). The // means to search all descendants, / means to just look at the current element’s children. So //div means look through all descendants for a div element. The brackets [] specify something about that element. So we can look for an attribute with the @ symbol, or look for text with the text() function. We can chain as many of these together as we can.

Here is a quick reference:

   //             Search all descendant elements
   /              Search all child elements
   []             The predicate (specifies something about the element you are looking for)
   @           Specifies an element attribute. (For example, @title)
   
   .               Specifies the current node (useful when you want to look for an element’s children in the predicate)
   ..              Specifies the parent node
  text()       Gets the text of the element.
   
In the context of web scraping, XPath is a nice tool to have in your belt, as it allows you to write specifications of document locations more flexibly than CSS selectors.

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Source: http://blog.datahut.co/how-xpath-plays-vital-role-in-web-scraping/

Tapping The Mining Services Goldmine

Tapping The Mining Services Goldmine

In Australia, resources booms tend to come and go. In a recent speech, Reserve Bank Deputy Governor Ric Battellino identified five major booms over the last two hundred years - from the gold rush of the 1850s, to our current minerals and energy boom.

Many have argued that the current boom is different from anything we've experienced before, with the modernisation of the Chinese and Indian economies likely to keep demand high for decades. That's led some analysts to talk of a resources supercycle. And yet a supercycle is still a cycle.

By definition, cycles are uneven, with commodity prices ebbing and flowing in response to demand, economic conditions and market sentiment. And the share prices of resources companies tend to move with them.

Which raises the question: what's the best way for investors to tap into the potential of the mining boom, without the heart-stopping volatility that mining stocks sometimes deliver?
Invest in the store that sells the spade

Legend has it that the people who really profited from Australia's gold rush weren't the miners who flocked to the fields, but the store-owners who sold them their spades and pans. You can put the same principle to work today by investing in mining services and engineering companies.

Here are five reasons to consider giving mining services companies a place in your portfolio:

1. Growing demand

In November, the Australian Bureau of Agricultural and Resource Economics reported that mining and energy companies plan to invest a record $132.9bn in new projects, a 58% increase from the previous year. That includes 72 projects at an advanced stage of development, such as the $43bn Gorgon LNG project and the $20bn Olympic dam expansion. The mining services sector is poised to benefit from all of them.

The sector also stands to benefit from Australia's worsening skills shortage, with more companies looking to contractors to provide essential services in remote locations.

2. Less volatility

Resource stocks tend to fluctuate with commodity prices, which are subject to international economic forces and market sentiment beyond the control of any individual company. As a result, they are among the most volatile companies on the Australian sharemarket. But mining services stocks, while still exposed to the commodities cycle, tend to be more stable.

3. More predictable cash flow

One reason for the comparative volatility of commodity companies is that their cash flow can be very variable. In the development phase, they need to make significant capital expenditure, often leading to negative cash flows. And while they enjoy healthy revenues in the production phase, that revenue may diminish as a resource is exhausted, unless they make further investments in exploration and development.
In contrast, mining services companies require comparatively little capital investment, with more predictable cash flows over the long-term.

4. Higher dividends

Predictable cash flows and lower capital expenditures often allow services companies to pay out more of their earnings as dividends, making them more appealing for income-oriented investors.

5. No need to pick winners

Many miners are highly leveraged to demand for a single commodity, whether it's gold, coal, copper or iron ore. Some are reliant on a single mine or field. Whereas services companies generally have a more diversified customer base.

Source: http://ezinearticles.com/?Tapping-The-Mining-Services-Goldmine&id=5924837

Web Scraping with Python: A Beginner’s Guide

Web Scraping with Python: A Beginner’s Guide

In the Big Data world, Web Scraping or Data extraction services are the primary requisites for Big Data Analytics. Pulling up data from the web has become almost inevitable for companies to stay in business. Next question that comes up is how to go about web scraping as a beginner.

Data can be extracted or scraped from a web source using a number of methods. Popular websites like Google, Facebook, or Twitter offer APIs to view and extract the available data in a structured manner.  This prevents the use of other methods that may not be preferred by the API provider. However, the demand to scrape a website arises when the information is not readily offered by the website. Python, an open source programming language is often used for Web Scraping due to its simple and rich ecosystem. It contains a library called “BeautifulSoup” which carries on this task. Let’s take a deeper look into web scraping using python.

Setting up a Python Environment:

To carry out web scraping using Python, you will first have to install the Python Environment, which enables to run code written in the python language. The libraries perform data scraping;

Beautiful Soup is a convenient-to-use python library. It is one of the finest tools for extracting information from a webpage. Professionals can scrape information from web pages in the form of tables, lists, or paragraphs. Urllib2 is another library that can be used in combination with the BeautifulSoup library for fetching the web pages. Filters can be added to extract specific information from web pages. Urllib2 is a Python module that can fetch URLs.

For MAC OSX :

To install Python libraries on MAC OSX, users need to open a terminal win and type in the following commands, single command at a time:

sudoeasy_install pip

pip install BeautifulSoup4

pip install lxml

For Windows 7 & 8 users:

Windows 7 & 8 users need to ensure that the python environment gets installed first. Once, the environment is installed, open the command prompt and find the way to root C:/ directory and type in the following commands:

easy_install BeautifulSoup4

easy_installlxml

Once the libraries are installed, it is time to write data scraping code.

Running Python:

Data scraping must be done for a distinct objective such as to scrape current stock of a retail store. First, a web browser is required to navigate the website that contains this data. After identifying the table, right click anywhere on it and then select inspect element from the dropdown menu list. This will cause a window to pop-up on the bottom or side of your screen displaying the website’s html code. The rankings appear in a table. You might need to scan through the HTML data until you find the line of code that highlights the table on the webpage.

Python offers some other alternatives for HTML scraping apart from BeautifulSoup. They include:

    Scrapy
    Scrapemark
    Mechanize

 Web scraping converts unstructured data from HTML code into structured form such as tabular data in an Excel worksheet. Web scraping can be done in many ways ranging from the use of Google Docs to programming languages. For people who do not have any programming knowledge or technical competencies, it is possible to acquire web data by using web scraping services that provide ready to use data from websites of your preference.

HTML Tags:

To perform web scraping, users must have a sound knowledge of HTML tags. It might help a lot to know that HTML links are defined using anchor tag i.e. <a> tag, “<a href=“http://…”>The link needs to be here </a>”. An HTML list comprises <ul> (unordered) and <ol> (ordered) list. The item of list starts with <li>.

HTML tables are defined with<Table>, row as <tr> and columns are divided into data as <td>;

    <!DOCTYPE html> : A HTML document starts with a document type declaration
    The main part of the HTML document in unformatted, plain text is defined by <body> and </body> tags
    The headings in HTML are defined using the heading tags from <h1> to <h5>
    Paragraphs are defined with the <p> tag in HTML
    An entire HTML document is contained between <html> and </html>

Using BeautifulSoup in Scraping:

While scraping a webpage using BeautifulSoup, the main concern is to identify the final objective. For instance, if you would like to extract a list from webpage, a step wise approach is required:

    First and foremost step is to import the required libraries:

 #import the library used to query a website

import urllib2

#specify the url wiki = “https://”

#Query the website and return the html to the variable ‘page’

page = urllib2.urlopen(wiki)

#import the Beautiful soup functions to parse the data returned from the website

from bs4 import BeautifulSoup

#Parse the html in the ‘page’ variable, and store it in Beautiful Soup format

soup = BeautifulSoup(page)

    Use function “prettify” to visualize nested structure of HTML page
    Working with Soup tags:

Soup<tag> is used for returning content between opening and closing tag including tag.

    In[30]:soup.title

 Out[30]:<title>List of Presidents in India till 2010 – Wikipedia, the free encyclopedia</title>

    soup.<tag>.string: Return string within given tag
    In [38]:soup.title.string
    Out[38]:u ‘List of Presidents in India and Brazil till 2010 in India – Wikipedia, the free encyclopedia’
    Find all the links within page’s <a> tags: Tag a link using tag “<a>”. So, go with option soup.a and it should return the links available in the web page. Let’s do it.
    In [40]:soup.a

Out[40]:<a id=”top”></a>

    Find the right table:

As a table to pull up information about Presidents in India and Brazil till 2010 is being searched for, identifying the right table first is important. Here’s a command to scrape information enclosed in all table tags.

all_tables= soup.find_all(‘table’)

Identify the right table by using attribute “class” of table needs to filter the right table. Thereafter, inspect the class name by right clicking on the required table of web page as follows:

    Inspect element
    Copy the class name or find the class name of right table from the last command’s output.

 right_table=soup.find(‘table’, class_=’wikitable sortable plainrowheaders’)

right_table

That’s how we can identify the right table.

    Extract the information to DataFrame: There is a need to iterate through each row (tr) and then assign each element of tr (td) to a variable and add it to a list. Let’s analyse the Table’s HTML structure of the table. (extract information for table heading <th>)

To access value of each element, there is a need to use “find(text=True)” option with each element.  Finally, there is data in dataframe.

There are various other ways to scrape data using “BeautifulSoup” that reduce manual efforts to collect data from web pages. Code written in BeautifulSoup is considered to be more robust than the regular expressions. The web scraping method we discussed use “BeautifulSoup” and “urllib2” libraries in Python. That was a brief beginner’s guide to start using Python for web scraping.

Source: https://www.promptcloud.com/blog/web-scraping-python-guide

Scraping Yelp Business Data With Python Scraping Script

Scraping Yelp Business Data With Python Scraping Script

Yelp is a great source of business contact information with details like address, postal code, contact information; website addresses etc. that other site like Google Maps just does not. Yelp also provides reviews about the particular business. The yelp business database can be useful for telemarketing, email marketing and lead generation.

Are you looking for yelp business details database? Are you looking for scraping data from yelp website/business directory? Are you looking for yelp screen scraping software? Are you looking for scraping the business contact information from the online Yelp? Then you are at the right place.

Here I am going to discuss how to scrape yelp data for lead generation and email marketing. I have made a simple and straight forward yelp data scraping script in python that can scrape data from yelp website. You can use this yelp scraper script absolutely free.

I have used urllib, BeautifulSoup packages. Urllib package to make http request and parsed the HTML using BeautifulSoup, used Threads to make the scraping faster.
Yelp Scraping Python Script

import urllib
from bs4 import BeautifulSoup
import re
from threading import Thread

#List of yelp urls to scrape
url=['http://www.yelp.com/biz/liman-fisch-restaurant-hamburg','http://www.yelp.com/biz/casa-franco-caramba-hamburg','http://www.yelp.com/biz/o-ren-ishii-hamburg','http://www.yelp.com/biz/gastwerk-hotel-hamburg-hamburg-2','http://www.yelp.com/biz/superbude-hamburg-2','http://www.yelp.com/biz/hotel-hafen-hamburg-hamburg','http://www.yelp.com/biz/hamburg-marriott-hotel-hamburg','http://www.yelp.com/biz/yoho-hamburg']

i=0
#function that will do actual scraping job
def scrape(ur):

          html = urllib.urlopen(ur).read()
          soup = BeautifulSoup(html)

      title = soup.find('h1',itemprop="name")
          saddress = soup.find('span',itemprop="streetAddress")
          postalcode = soup.find('span',itemprop="postalCode")
          print title.text
          print saddress.text
          print postalcode.text
          print "-------------------"

threadlist = []

#making threads
while i<len(url):
          t = Thread(target=scrape,args=(url[i],))
          t.start()
          threadlist.append(t)
          i=i+1

for b in threadlist:
          b.join()

Recently I had worked for one German company and did yelp scraping project for them and delivered data as per their requirement. If you looking for scraping data from business directories like yelp then send me your requirement and I will get back to you with sample.

Source: http://webdata-scraping.com/scraping-yelp-business-data-python-scraping-script/

Powerful Web Scraping Software – Content Grabber Review

Powerful Web Scraping Software – Content Grabber Review

There are many web scraping software and cloud based web scraping services available in the market for extracting data from the websites. They vary widely in cost and features. In this article, I am going to introduce one such advanced web scraping tool “Content Grabber”, which is widely used and the best web scraping software in the market.

Content Grabber is used for web extraction, web scraping and web automation. It can extract content from complex websites and export it as structured data in a variety of formats like Excel Spreadsheets, XML, CSV and databases. Content Grabber can also extract data from highly dynamic websites. It can extract from AJAX-enabled websites, submit forms repeatedly to cover all possible input values, and manage website logins.

Content Grabber is designed to be reliable, scalable and customizable. It is specifically designed for users with a critical reliance on web scraping and web data extraction. It also enables you to make standalone web scraping agents which you can market and sell as your own royalty free web scraping software.

Applications of Content Grabber:

The following are the few applications of Content Grabber:

•     Data aggregation – for example news aggregation.
•     Competitive pricing and monitoring e.g. monitor dealers for price compliance.
•     Financial and Market Research e.g. Make proactive buying and selling decisions by continuously receiving corporate operational data.
•     Content Integration i.e. integration of data from various sources at one place.
•     Business Directory Scraping – for example: yellow pages scraping, yelp scraping, superpages scraping etc.
•     Extracting company data from yellow pages for scraping common data fields like Business Name, Address, Telephone, Fax, Email, Website and Category of Business.
•     Extracting eBay auction data like: eBay Product Name, Store Information, Buy it Now prices, Product Price, List Price, Seller Price and many more.
•     Extracting Amazon product data: Information such as Product title, cost, description, details, availability, shipping info, ASIN, rating, rank, etc can be extracted.

Content Grabber Features:

The following section highlights some of the key features of Content Grabber:

1. Point and Click Interface

The Content Grabber editor has an easy to use point and click interface that provides easy point and click configuration. One simply needs to click on web elements to configure website navigation and content capture.

2. Easy to Use

The Content Grabber point and click interface is so simple to use that it can easily be used by beginners and non-programmers. There is certain built in facilities that automatically detect and configure all commands. It will automatically create a list of links, lists of content, manage pagination, handle web pages, download or upload files and capture any action you perform on a web page. You can also manually configure the agent commands, so Content Grabber gives you both simplicity and control.

3. Reliable and Scalable

Content Grabber’s powerful features like testing and debugging, solid error handling and error recovery, allows agent to run in the most difficult scenarios. It easily handles and scrapes dynamic websites built with JavaScript and AJAX. Content Grabber’s Intelligent agents don’t break with most site structure changes. These features enable us to build reliable web scraping agents. There are various configurations and performance tuning options that makes Content Grabber scalable. You can build as many web scraping agents as you want with Content Grabber.

4. High Performance

Multi-threading is used to increase the performance in Content Grabber. Content Grabber uses optimized web browsers. It uses static browsers for static web pages and dynamic browsers for dynamic web pages. It has an ultra-fast HTML5 parser for ultra-fast web scraping. One can use many web browsers concurrently to boost performance.

5. Debugging, Logging and Error Handling

Content Grabber has robust support for debugging, error handling and logging. Using a debugger, you can test and debug the web scraping agents which helps you to build reliable and error free web scraping solutions because most of the issues are addressed at design time. Content Grabber allows agent logging with three detail levels: Log URLs, Log raw HTML, Log to database or file. Logs can be useful to identify problems that occurred during execution of a web scraping agent. Content Grabber supports automatic error handling and custom error handling through scripting. Error status reports can also be mailed to administrators.

6. Scripting

Content Grabber comes with a built in script editor with IntelliSense that one can use in case of some unusual requirements or to fine tune some process. Scripting can be used to control agent behaviour, content transformation, customize data export and delivery and to generate data inputs for agent.

7. Unlimited Web Scraping Agents

Content Grabber allows building an unlimited number of Self-Contained Web Scraping Agents. Self-Contained agents are a standalone executable that can be run independently, branded as your own and distributed royalty free. Content Grabber provides an easy to use and effective GUI to manage all the agents. One can view status and logs of all the agents or run and schedule the agents in one centralized location.

8. Automation

Require data on a schedule? Weekly? Everyday? Each hour? Content Grabber allows automating and publishing extracted data. Configure Content Grabber by telling what data you want once, and then schedule it to run automatically.

And much more

There are too many features that Content Grabber provides, but here are a few more that may be useful and interest you.

•     Schedule agents
•     Manage proxies
•     Custom notification criteria and messages
•     Email notifications
•     Handle websites logins
•     Capture Screenshots of web elements or entire web page or save as PDF.
•     Capture hidden content on web page.
•     Crawl entire website
•     Input data from almost any data source.
•     Auto scroll to load dynamic data
•     Handle complex JAVASCRIPT and AJAX actions
•     XPATH support
•     Convert Images to Text
•     CAPTCHA handling
•     Extract data from non-HTML documents like PDF and Word Documents
•     Multi-threading and multiple web browsers
•     Run agent from command line.

The above features come with the Professional edition license. Content Grabber’s Premium edition license is available with the following extra features:

1. Visual Studio 2013 integration

One can integrate Content Grabber to Visual Studio and take advantages of extra powerful script editing, debugging, and unit testing.

2. Remove Content Grabber branding

One can remove Content Grabber branding from the Content Grabber agents and distribute the executable.

3. Custom Design Templates

One can customize the Content Grabber agent user interface design with custom HTML templates – e.g. add your own company branding.

4. Royalty free distribution

One can distribute the Content Grabber agent to anybody without paying royalty fees and can run agents from the command line anywhere.

5. Programming Interface

Programming interfaces like Desktop API, Web API and windows service for building and editing agents.

6. Custom Web Scraping Application Development:

Content Grabber provides API and Visual Studio Integration which developer can use to build custom web scraping applications. It provides full control of the user interface and export functionality. One can develop both Desktop as well as Web based custom web scraping applications using the Content Grabber programming interface. It is a great tool and provides opportunity for developers to build general web scraping applications and sell those to generate revenue.

Are you looking for web scraping services? Do you need any assistance related to Content Grabber? We can probably help you to achieve your scraping-based project goals. We would be more than happy to hear from you.

Source: http://webdata-scraping.com/powerful-web-scraping-software-content-grabber/

Benefits of Ruby over Python & R for Web Scraping

Benefits of Ruby over Python & R for Web Scraping

In this data driven world, you need to be constantly vigilant, as information and key data for an organization keeps changing all the while. If you get the right data at the right time in an efficient manner, you can stay ahead of competition. Hence, web scraping is an essential way of getting the right data. This data is crucial for many organizations, and scraping technique will help them keep an eye on the data and get the information that will benefit them further.

Web scraping involves both crawling the web for data and extracting the data from the page. There are several languages which programmers prefer for web scraping, the top ones are Ruby, Python & R. Each language has its own pros and cons over the other, but if you want the best results and a smooth flow, Ruby is what you should be looking for.

Ruby is very good at production deployments and using Ruby, Redis & Chef have proven to be a great combination. String manipulation in Ruby is very easy because it is based on Perl syntax. Also, Ruby is great for analyzing web pages using  one of the very powerful gems called Nokogiri. Nokogiri is much easier to use as compared to other packages and libraries used by R and Python respectively. Nokogiri can deal with broken HTML / HTML fragments easily. Ruby also has many extensions, such as Sanitize and Loofah, that can help clean up broken HTML.

Python programmers widely use a library called Beautiful Soup for pulling data out of HTML & XML files. It works with your favorite parser to provide idiomatic ways of navigating, searching, and modifying the parse tree. It commonly saves programmers hours or days of work. R programmers have a new package called rvest that makes it easy to scrape data from html web pages, by libraries like beautiful soup. It is designed to work with magrittr so that you can express complex operations as elegant pipelines composed of simple, easily understood pieces.

To help you understand it more effectively, below is a comprehensive infographic for the same.

Ruby is far ahead of Python & R for cloud development and deployments.  The Ruby Bundler system is just great for managing and deploying packages from Github. Using Chef, you can start up and tear down nodes on EC2, at will, and monitor for failures,  scale up or down, reset your IP addresses, etc. Ruby also has great testing frameworks like Fakeweb and Capybara, making it almost trivial to build a great suite of unit tests and to include advanced features, like crawling  and scraping using webkit / selenium. 

The only disadvantage to Ruby is lack of machine learning and NLP toolkits, making it much harder to emulate the capacity of a tool like Pattern.  It can still be done, however, since most of the heavy lifting can be done asynchronously using Unix tools like liblinear or vowpal wabbit.

Conclusion

Each language has its plus point and you can pick the one which you are most comfortable with. But if you are looking for smooth web scraping experience, then Ruby is the best option. That has been our choice too for years at PromptCloud for the best web scraping results. If you have any further questions about this, then feel free to get in touch with us.

Source: https://www.promptcloud.com/blog/benefits-of-ruby-for-web-scraping

How to use Social Media Scraping to be your Competitors’ Nightmare

How to use Social Media Scraping to be your Competitors’ Nightmare

Big data and competitive intelligence have been in the limelight for quite some time now. The almost magical power of big data to help a company make just the right decisions have been talked about a lot. When it comes to big data, the kind of benefits that a business can get totally depends upon the sources they acquire it from. Social media is one of the best sources from where you can get data that helps your business in a multitude of ways. Now that every business is deep rooted on the internet, social media data becomes all the more relevant and crucial. Here is how you can use data scraped from social media sites to get an edge in the competition.

Keeping watch on your competitors

Social media is the best place to watch your competitors’ activity and take counter initiatives to keep up or take over them. If you want to know what your competitors are up to, a social media scraping setup for scraping the posts that mention your competitors’ brand/product names can do the trick. This can also be used to learn a thing or two from their activities on social media so that you can take respective measures to stay ahead of them. For example, you could know if your competitor is running a special promotional offer at the moment and come up with something better than theirs to keep up. This can do wonders if you are in a highly competitive industry like Ecommerce where the competition is intense. If you are not using some help from web scraping technology to keep a close watch on your competitors, you could easily get left over in this fast-paced business scene.

Solving customer issues at the earliest

Customers are vocal about their experience with different products and services on social media sites these days. If you have a customer whose issue was left unsolved, there is a good chance that he/she will take it to the social media to vent the frustration. Watching out for such instances and giving them prompt support should be something you should do if you want to retain these customers and stop them from ruining your brand’s image. By scraping social media sites for posts that mention your product/service, you can easily find out if there are such grievances from customers. This can make sure to an extent that you don’t let unhappy customers stay that way, which eventually hurts your business in the long run. Customers can make or break your company, so using social media scraping to serve the customers better can help you succeed eventually.

Sentiment analysis

Social media data can play a good job at helping you understand user sentiments. With the help of social media scraping, a business can get the big picture about general perception of their brand by their users. This can go a long way since this level of feedback can help you fix unnoticed issues with your company and service quickly. By rectifying them, you can make your brand more appealing to the customers. Sentiment analysis will provide you with the opportunity to transform your business into how customers want it to be. Social media scraping is the one and only way to have access to this user sentiment data which can help you optimize your business for the customers.

Web crawling for social media data

When social media data possess so much value to businesses, it makes sense to look for efficient ways to gather and use this data. Manually scrolling through millions of tweets doesn’t make sense, this is why you should use social media scraping to aggregate the relevant data for your business. Besides, web scraping technologies make it possible to handle huge amounts of data with ease. Since the size of data is huge when it comes to business related requirements, web scraping is the only scalable solution worth considering. To make things even simpler, there are reliable web scraping solutions that offer social media scraping services for brand monitoring.

Bottom line

Since social media has become an integral part of online businesses, the data available on these sites possess immense value to companies in every industry. Social media scraping can be used for brand monitoring and gaining competitive intelligence that can be used to optimize your business model for maximum effectiveness. This will in turn make your company stand out from the competition and the added advantage of insights gained from social media data will help you to take over your competitors.

Source: https://www.promptcloud.com/blog/social-media-scraping-for-competitive-intelligence

ERP Data Conversions - Best Practices and Steps

ERP Data Conversions - Best Practices and Steps

Every company who has gone through an ERP project has gone through the painful process of getting the data ready for the new system. The process of executing this typically goes through the following steps:

(1) Extract or define

(2) Clean and transform

(3) Load

(4) Validate and verify

This process is typically executed multiple times (2 - 5+ times depending on complexity) through an ERP project to ensure that the good data ends up in the new system. If the data is either incorrect, not well enough cleaned or adjusted or loaded incorrectly in to the new system it can cause serious problems as the new system is launched.

(1) Extract or define

This involves extracting the data from legacy systems, which are to be decommissioned. In some cases the data may not exist in a legacy system, as the old process may be spreadsheet-based and has to be created from scratch. Typically this involves creating some extraction programs or leveraging existing reports to get the data in to a format which can be put in to a spreadsheet or a data management application.

(2) Data cleansing

Once extracted it normally reviewed is for accuracy by the business, supported by the IT team, and/or adjusted if incorrect or in a structure which the new ERP system does not understand. Depending on the level of change and data quality this can represent a significant effort involving many business stakeholders and required to go through multiple cycles.

(3) Load data to new system

As the data gets structured to a format which the receiving ERP system can handle the load programs may also be build to handle certain changes as part of the process of getting the data converted in to the new system. Data is loaded in to interface tables and loaded in to the new system's core master data and transactions tables.

When loading the data in to the new system the inter-dependency of the different data elements is key to consider and validate the cross dependencies. Exceptions are dealt with and go in to lessons learned and to modify extracts, data cleansing or load process in to the next cycle.

(4) Validate and verify

The final phase of the data conversion process is to verify the converted data through extracts, reports or manually to ensure that all the data went in correctly. This may also include both internal and external audit groups and all the key data owners. Part of the testing will also include attempting to transact using the converted data successfully.

The topmost success factors or best practices to execute a successful conversion I would prioritize as follows:

(1) Start the data conversion early enough by assessing the quality of the data. Starting too late can result in either costly project delays or decisions to load garbage and "deal with it later" resulting in an increase in problems as the new system is launched.

(2) Identify and assign data owners and customers (often forgotten) for the different elements. Ensure that not only the data owners sign-off on the data conversions but that also the key users of the data are involved in reviewing the selection criteria's, data cleansing process and load verification.

(3) Run sufficient enough rounds of testing of the data, including not only validating the loads but also transacting with the converted data.

(4) Depending on the complexity, evaluate possible tools beyond spreadsheets and custom programming to help with the data conversion process for cleansing, transformation and load process.

(5) Don't under-estimate the effort in cleansing and validating the converted data.

(6) Define processes and consider other tools to help how the accuracy of the data will be maintained after the system goes live.

Source: http://ezinearticles.com/?ERP-Data-Conversions---Best-Practices-and-Steps&id=7263314

How to Scrape a Website into Excel without programming

How to Scrape a Website into Excel without programming

This web scraping tutorial will teach you visually step by step how to scrape or extract or pull data from websites using import.io(Free Tool) without programming skills into Excel.

Personally, I use web scraping for analysing my competitors’ best-performing blog posts or content such as what blog posts or content received most comments or social media shares.

In this tutorial,We will scrape the following data from a blog:

    All blog posts URLs.
    Authors names for each post.
    Blog posts titles.
    The number of social media shares each post received.

Then we will use the extracted data to determine what are the popular blog posts and their authors,which posts received much engagement from users through social media shares and on page comments.

Let’s get started.

Step 1:Install import.io app

The first step is to install import.io app.A free web scraping tool and one of the best web scraping software.It is available for Windows,Mac and Linux platforms.Import.io offers advanced data extraction features without coding by allowing you to create custom APIs or crawl entire websites.

After installation, you will need to sign up for an account.It is completely free so don’t worry.I will not cover the installation process.Once everything is set correctly you will see something similar to the window below after your first login.

Step 2:Choose how to scrape data using import.io extractor

With import.io you can do data extraction by creating custom APIs or crawling the entire websites.It comes equipped with different tools for data extraction such as magic,extractor,crawler and connector.

In this tutorial,I will use a tool called “extractor” to create a custom API for our data extraction process.

To get started click the “new” red button on the right top of the page and then click “Start Extractor” button on the pop-up window.

After clicking  “Start Extractor” the Import.io app internal browser window will open as shown below.

Step 3:Data scraping process

Now after the import.io browser is open navigate to the blog URL you want to scrape data from. Then once you already navigated to the target blog URL turn on extraction.In this tutorial,I will use this blog URL bongo5.com  for data extraction.

You can see from the window below I already navigated to www.bongo5.com but extraction switch is still off.

Turn extraction switch “ON” as shown in the window below and move to the next step.

Step 4:Training the “columns” or specifying the data we want to scrape

In this step,I will specify exactly what kind of data I want to scrape from the blog.On import.io app specifying the data you want to scrape is referred to as “training the columns”.Columns represent the data set I want to scrape(post titles,authors’ names and posts URLs).

In order to understand this step, you need to know the difference between a blog page and a blog post.A page might have a single post or multiple posts depending on the blog configuration.

A blog might have several blog posts,even hundreds or thousands of posts.But I will take only one session to train the “extractor” about the data I want to extract.I will do so by using an import.io visual highlighter.Once the data extraction is turned on the-the highlighter will appear by default.

I will do the training session for a single post in a single blog page with multiple posts then the extractor will extract data automatically for the remaining posts on the “same” blog page.
Step 4a:Creating “post_title” column

I will start by renaming “my_column” into the name of the data I want to scrape.Our goal in this tutorial is to scrape the blog posts titles,posts URLs,authors names and get social statistics later so I will create columns for posts titles,posts URLs,authors names.Later on, I will teach you how to get social statistics for the post URLs.

After editing “my_column” into “post_title” then point the mouse cursor over to any of the Posts title on the same blog page and the visual highlighter will automatically appear.Using the highlighter I can select the data I want to extract.

You can see below I selected one of the blog post titles on the page.The rectangular box with orange border is the visual highlighter.

The app will ask you how is the data arranged on the page.Since I have more than one post in a single page then you have rows of repeating data.This blog is having 25 posts per page.So you will select “many rows”.Sometimes you might have a single post on a page for that case you need to select “Just one row”.

Source: http://nocodewebscraping.com/web-scraping-for-dummies-tutorial-with-import-io-without-coding/

What's difference between web scraping and data mining?

What's difference between web scraping and data mining?

Data mining: automatically searching large stores of data for patterns. How you get the data is irrelevant, only how you analyze it. Data mining involves the use of complex statistical algorithms.

Screen/web scraping is a method for extracting textual characters from screens so that they could be analyzed. Commonly, it is used to extract characters from websites (web scraping), though not exclusively. This method for gathering data is direct, either through looking at websites' html code or visual abstraction techniques.

Web scraping could be a source for data mining but it doesn't have to be because your data may not come from the web.

Data Mining can take any source of data and if that process requires data available from the public web then web scraping could be one of the methods to get such data.
You can also perform web scraping. without mining it later.

The reality is that a lot of data today IS on the web and a lot of data mining does use web related data.

Web scraping is getting data from web. Data mining is getting knowledge from data.

Source: https://www.quora.com/Whats-difference-between-web-scraping-and-data-mining

Data Extraction: Tips to Get Exemplary Results

Data extraction is a skill, the more you master it – more are the chances of having a lucid picture of the volatile market and getting better perceptive of constantly changing trends. Escalating volatility in the market and intensifying competition has been the most contributing factors that have led to the rise of data extraction and data mining.

Data extraction is primarily used by companies (large and small, alike) to collect data from a specific industry, or data related to targeted customers or about their competition in the market. In fact, it has become a primary tool for marketers to plan their moves for branding and promoting particular products or services. It helps a wide plethora of industrial sectors to find and learn about specific data, based on their requirements.

And now with the rise of internet, web scraping has emerged as an important aspect that contributes to your success – the success of your venture or organization. It processes the HTML of a Web page to obtain data and convert it into to another format (i.e. HTML to XML).

Various extraction tools form an integral part of data extraction and data scrapping. Following offers a brief outline of some of these tools:

Email Extraction – An email extractor tool is used to acquire the email ids from any dependable sources automatically

Screen Scrapping – Screen scraping is a practice of reading text information from a screen and collecting visual data, rather than analyzing data as done in web scraping.

Data Mining as name suggests is a process of gathering patterns from information. It basically transforms the information into formats like CSV, MS excels, HTML and so and so forth, depending to your requirements

Web Spider – A Web spider is a computer program which browses internet in a systematic, automated manner. It is used by many search engines in order to provide up-to-date data

It is often seen that while extracting data; many get lost into the labyrinth of confusion, data overabundance, along with a lot of weird and not-so-familiar terms. Proper handling of these may sound easy, however; when not executed with appropriate procedure and processes; it may bring in disastrous results.

This no way means that data mining is a rocket science which only a few gifted and skilled people can take up. All it requires is undivided attention, keen preparation, and training, so brace up yourself for an overview of some practical tips that can help in successful data extraction and give a boost to your business.

Identify your Business Goals!:

Get a clear perspective in mind as to what are your business goals.

Data extraction can be bifurcated into various branches; and one needs to choose it wisely, depending on the business goals. E.g. your primary requirement is to get email ids of potential clients to conduct an email campaign; and for that you certainly need an email extractor. Use of this tool assists in extracting the email ids from trustworthy sources automatically. It essentially collects business contacts from various web pages, text files, HTML files, or any other format without duplicating the email ids. So, if you are not sure what you want; even applying the best tools will be of no use!

A crystal clear mindset helps in better understanding of market scenario and thus helps in formulation of powerful and effective strategies to get desired outcomes. E.g., people dealing in real estate business, should have a vision for it and which area they want to target specifically. With a clear vision they can clearly spell out what you want and where it should be.

Set Realistic Expectations:

Upon identifying your business goals, make sure to check out that they are realistic and attainable! Unrealistic and unachievable targets are the real cause for the obstacles and frustrations in the future.

Since, there are various tools that are and can be employed to extract data; vague or unclear goals make it difficult to determine which tool can be applied.

This crystal clear mindset; will help you give that insight about the direction your business is headed to.

Moreover, you can determine which method can be used to get excellent results. You can get a lucid picture of the past and present of your competitors and therefore helps in setting targets based on the others’ experiences. It is usually a wise move to set expectations that you have not achieved before.

Appoint Skilled Data Miner:

Skilled data miner with excellent data mining skills will reduce the painstaking and tiresome process of planning, devising and preparation.

For fresh start-ups, you can go ahead with the standard procedure however; if you have ample professionals at your disposal, pick up the right one who is not only knowledgeable but also reliable and sincere towards the task.

Prevent Data Deposits:

Being dead-sure of what you really want will help you avoid unnecessary data deposition.

Data mining just like real mining is a skill to know where the real treasure lies and being able to get it in the most efficient and effective way.

Being able to spot on authenticated & reliable resources, well researched information is what gives a short cut to locate the right and exact data.

If you are aimlessly opening every website; the results are bound to be ambiguous and would ultimately be a waste of time and effort.


Source:  http://www.habiledata.com/blog/data-extraction-is-not-a-rocket-science-follow-these-4-tips-to-get-exemplary-results