Why ‘price comparison websites’ are considered as an example of Data
Sciences?
Answers
Explanation:
A few years back, a typical online buyer looking to buy apparel or an electronic gadget would scour the web to compare prices from various e-commerce sites and look for the best deals available. Prices of the same commodity would vary vastly over different sites which in turn prompted sites to monitor price changes in real-time using analysts. In today’s hyper-competitive e-commerce scenario, retail players grab every opportunity to attract potential customers. Price comparison websites are one of the opportunities e-retailers leverage to attract customers.
Price comparison websites are a win-win for both a business owner and a customer. The customers benefit by gaining good deals, a convenient shopping experience, better coverage over major e-commerce sites, and a display of greater variety for the same product. On the other hand, business owners benefit by gaining a greater no of leads, better conversion rates, and enhanced customer services.
Price comparison websites enter into a collaboration with stores or companies to gain data directly from a retailer's web feeds. Traffic from comparison shopping websites is a major source of revenue for internet retailers. If you can build a partnership with them – they can give you access to their API.