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According to a new study by Clear data, 90% of companies say they increased their budget for web data in the past year. This is accompanied by 87% whose need for web data has grown over that time. The survey was conducted in September 2022 and included 500 professionals from companies in the retail, travel and financial sectors.
While budgets are being cut and operations around the world are being scaled down to prepare for the uncertainty of today’s economy, organizations are still prioritizing and investing in web data, indicating it’s seen as a critical part of their success.
To meet this growing need and capacity to collect data, more than half of the companies surveyed (55%) are actively considering partnering with or acquiring a third-party company that can collect data. This is an increase of more than 25% since 2021 – indicating that the current web data needs of many organizations are not being met by today’s tools.
The survey also found that most companies want diversity when collecting web data, with 97% citing the importance of using multiple sources and datasets. Meanwhile, the preferred form of data collection varies, with 48% preferring to collect the data themselves, and 32% preferring to buy ready-made data sets.
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That said, 90% of businesses are currently using web data technology to gather insights from a variety of sources, including social media and search engines. Product research and development, competitor monitoring, and operational system testing and training were cited as the top reasons for the collection. This indicates that organizations are investing more to ensure that their products and services truly meet the needs and wants of their customers.
Bright Data surveyed 500 professionals in the IT (70%), technology (18%) and data and analytics (12%) sectors in the US, UK and France. Respondents were from retail (33%), travel (33%), finance or executive banking (27%) and general banking (7%) and represented C-level (31%), senior management (65%) and mid-level (4%) positions.
Read the full report from BrightData.
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