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

Assuring Scraping Success with Proxy Data Scraping

Assuring Scraping Success with Proxy Data Scraping

Have you ever heard of "Data Scraping?" Data Scraping is the process of collecting useful data that has been placed in the public domain of the internet (private areas too if conditions are met) and storing it in databases or spreadsheets for later use in various applications. Data Scraping technology is not new and many a successful businessman has made his fortune by taking advantage of data scraping technology.

Sometimes website owners may not derive much pleasure from automated harvesting of their data. Webmasters have learned to disallow web scrapers access to their websites by using tools or methods that block certain ip addresses from retrieving website content. Data scrapers are left with the choice to either target a different website, or to move the harvesting script from computer to computer using a different IP address each time and extract as much data as possible until all of the scraper's computers are eventually blocked.

Thankfully there is a modern solution to this problem. Proxy Data Scraping technology solves the problem by using proxy IP addresses. Every time your data scraping program executes an extraction from a website, the website thinks it is coming from a different IP address. To the website owner, proxy data scraping simply looks like a short period of increased traffic from all around the world. They have very limited and tedious ways of blocking such a script but more importantly -- most of the time, they simply won't know they are being scraped.

You may now be asking yourself, "Where can I get Proxy Data Scraping Technology for my project?" The "do-it-yourself" solution is, rather unfortunately, not simple at all. Setting up a proxy data scraping network takes a lot of time and requires that you either own a bunch of IP addresses and suitable servers to be used as proxies, not to mention the IT guru you need to get everything configured properly. You could consider renting proxy servers from select hosting providers, but that option tends to be quite pricey but arguably better than the alternative: dangerous and unreliable (but free) public proxy servers.

There are literally thousands of free proxy servers located around the globe that are simple enough to use. The trick however is finding them. Many sites list hundreds of servers, but locating one that is working, open, and supports the type of protocols you need can be a lesson in persistence, trial, and error. However if you do succeed in discovering a pool of working public proxies, there are still inherent dangers of using them. First off, you don't know who the server belongs to or what activities are going on elsewhere on the server. Sending sensitive requests or data through a public proxy is a bad idea. It is fairly easy for a proxy server to capture any information you send through it or that it sends back to you. If you choose the public proxy method, make sure you never send any transaction through that might compromise you or anyone else in case disreputable people are made aware of the data.

A less risky scenario for proxy data scraping is to rent a rotating proxy connection that cycles through a large number of private IP addresses. There are several of these companies available that claim to delete all web traffic logs which allows you to anonymously harvest the web with minimal threat of reprisal. Companies such as offer large scale anonymous proxy solutions, but often carry a fairly hefty setup fee to get you going.

Source:http://ezinearticles.com/?Assuring-Scraping-Success-with-Proxy-Data-Scraping&id=248993

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/

How Xpath Plays Vital Role In Web Scraping Part 2

How Xpath Plays Vital Role In Web Scraping Part 2

Here is a piece of content on  Xpaths which is the follow up of How Xpath Plays Vital Role In Web Scraping

Let’s dive into a real-world example of scraping amazon website for getting information about deals of the day. Deals of the day in amazon can be found at this URL. So navigate to the amazon (deals of the day) in Firefox and find the XPath selectors. Right click on the deal you like and select “Inspect Element with Firebug”:

If you observe the image below keenly, there you can find the source of the image(deal) and the name of the deal in src, alt attribute’s respectively.

So now let’s write a generic XPath which gathers the name and image source of the product(deal).

  //img[@role=”img”]/@src  ## for image source
  //img[@role=”img”]/@alt   ## for product name

In this post, I’ll show you some tips we found valuable when using XPath in the trenches.

If you have an interest in Python and web scraping, you may have already played with the nice requests library to get the content of pages from the Web. Maybe you have toyed around using Scrapy selector or lxml to make the content extraction easier. Well, now I’m going to show you some tips I found valuable when using XPath in the trenches and we are going to use both lxml and Scrapy selector for HTML parsing.

Avoid using expressions which contains(.//text(), ‘search text’) in your XPath conditions. Use contains(., ‘search text’) instead.

Here is why: the expression .//text() yields a collection of text elements — a node-set(collection of nodes).and when a node-set is converted to a string, which happens when it is passed as argument to a string function like contains() or starts-with(), results in the text for the first element only.

from scrapy import Selector
html_code = “””<a href=”#”>Click here to go to the <strong>Next Page</strong></a>”””
sel = Selector(text=html_code)
xp = lambda x: sel.xpath(x).extract()           # Let’s type this only once
print xp(‘//a//text()’)                                       # Take a peek at the node-set
[u’Click here to go to the ‘, u’Next Page’]   # output of above command
print xp(‘string(//a//text())’)                           # convert it to a string
  [u’Click here to go to the ‘]                           # output of the above command

Let’s do the above one by using lxml then you can implement XPath by both lxml or Scrapy selector as XPath expression is same for both methods.

lxml code:

from lxml import html
html_code = “””<a href=”#”>Click here to go to the <strong>Next Page</strong></a>””” # Parse the text into a tree
parsed_body = html.fromstring(html_code)  # Perform xpaths on the tree
print parsed_body(‘//a//text()’)                      # take a peek at the node-set
[u’Click here to go to the ‘, u’Next Page’]   # output
print parsed_body(‘string(//a//text())’)              # convert it to a string
[u’Click here to go to the ‘]                    # output

A node converted to a string, however, puts together the text of itself plus of all its descendants:

>>> xp(‘//a[1]’)  # selects the first a node
[u'<a href=”#”>Click here to go to the <strong>Next Page</strong></a>’]

>>> xp(‘string(//a[1])’)  # converts it to string
[u’Click here to go to the Next Page’]

Beware of the difference between //node[1] and (//node)[1]//node[1] selects all the nodes occurring first under their respective parents and (//node)[1] selects all the nodes in the document, and then gets only the first of them.

from scrapy import Selector

html_code = “””<ul class=”list”>
<li>1</li>
<li>2</li>
<li>3</li>
</ul>

<ul class=”list”>
<li>4</li>
<li>5</li>
<li>6</li>
</ul>”””

sel = Selector(text=html_code)
xp = lambda x: sel.xpath(x).extract()

xp(“//li[1]”) # get all first LI elements under whatever it is its parent

[u'<li>1</li>’, u'<li>4</li>’]

xp(“(//li)[1]”) # get the first LI element in the whole document

[u'<li>1</li>’]

xp(“//ul/li[1]”)  # get all first LI elements under an UL parent

[u'<li>1</li>’, u'<li>4</li>’]

xp(“(//ul/li)[1]”) # get the first LI element under an UL parent in the document

[u'<li>1</li>’]

Also,

//a[starts-with(@href, ‘#’)][1] gets a collection of the local anchors that occur first under their respective parents and (//a[starts-with(@href, ‘#’)])[1] gets the first local anchor in the document.

When selecting by class, be as specific as necessary.

If you want to select elements by a CSS class, the XPath way to do the same job is the rather verbose:

*[contains(concat(‘ ‘, normalize-space(@class), ‘ ‘), ‘ someclass ‘)]

Let’s cook up some examples:

>>> sel = Selector(text='<p class=”content-author”>Someone</p><p class=”content text-wrap”>Some content</p>’)

>>> xp = lambda x: sel.xpath(x).extract()

BAD: because there are multiple classes in the attribute

>>> xp(“//*[@class=’content’]”)

[]

BAD: gets more content than we need

 >>> xp(“//*[contains(@class,’content’)]”)

     [u'<p class=”content-author”>Someone</p>’,
     u'<p class=”content text-wrap”>Some content</p>’]

GOOD:

>>> xp(“//*[contains(concat(‘ ‘, normalize-space(@class), ‘ ‘), ‘ content ‘)]”)
[u'<p class=”content text-wrap”>Some content</p>’]

And many times, you can just use a CSS selector instead, and even combine the two of them if needed:

ALSO GOOD:

>>> sel.css(“.content”).extract()
[u'<p class=”content text-wrap”>Some content</p>’]

>>> sel.css(‘.content’).xpath(‘@class’).extract()
[u’content text-wrap’]

Learn to use all the different axes.

It is handy to know how to use the axes, you can follow through these examples.

In particular, you should note that following and following-sibling are not the same thing, this is a common source of confusion. The same goes for preceding and preceding-sibling, and also ancestor and parent.

Useful trick to get text content

Here is another XPath trick that you may use to get the interesting text contents: 

//*[not(self::script or self::style)]/text()[normalize-space(.)]

This excludes the content from the script and style tags and also skip whitespace-only text nodes.

Tools & Libraries Used:

Firefox
Firefox inspect element with firebug
Scrapy : 1.1.1
Python : 2.7.12
Requests : 2.11.0

 Have questions? Comment below. Please share if you found this helpful.

Source: http://blog.datahut.co/how-xpath-plays-vital-role-in-web-scraping-part-2/

Data Mining Process - Why Outsource Data Mining Service?

Data Mining Process - Why Outsource Data Mining Service?

Overview of Data Mining and Process:

Data mining is one of the unique techniques for investigating information to extract certain data patterns and decide to outcome of existing requirements. Data mining is widely use in client research, services analysis, market research and so on. It is totally based on mathematical algorithm and analytical skills to drive the desired results from the huge database collection.

Information mining is mostly used by financial analyzer, business and professional organization and also there are many growing area of business that are get maximum advantages of data extract with use of data warehouses in their small to large level of businesses.

Most of functionalities which are used in information collecting process define as under:

* Retrieving Data

* Analyzing Data

* Extracting Data

* Transforming Data

* Loading Data

* Managing Databases

Most of small, medium and large levels of businesses are collect huge amount of data or information for analysis and research to develop business. Such kind of large amount will help and makes it much important whenever information or data required.

Why Outsource Data Online Mining Service?

Outsourcing advantages of data mining services:
o Almost save 60% operating cost
o High quality analysis processes ensuring accuracy levels of almost 99.98%
o Guaranteed risk free outsourcing experience ensured by inflexible information security policies and practices
o Get your project done within a quick turnaround time
o You can measure highly skilled and expertise by taking benefits of Free Trial Program.
o Get the gathered information presented in a simple and easy to access format

Thus, data or information mining is very important part of the web research services and it is most useful process. By outsource data extraction and mining service; you can concentrate on your co relative business and growing fast as you desire.

Outsourcing web research is trusted and well known Internet Market research organization having years of experience in BPO (business process outsourcing) field.

If you want to more information about data mining services and related web research services, then contact us.

Source: http://ezinearticles.com/?Data-Mining-Process---Why-Outsource-Data-Mining-Service?&id=3789102

How Web Scraping Affects your Revenue Growth

How Web Scraping Affects your Revenue Growth

Web scraping is an indispensable resource when it comes to gaining an edge in the competition with the help of business intelligence. As more and more data gets created on the world wide web, the complexity of extracting it intensifies. Web scraping is a technology that demands an extensive tech stack, high end resources and technically skilled labour. Given this resource hungry nature, many businesses prefer outsourcing it to doing the scraping in-house. Here is a brief walk-through of web scraping so that you can get a grip on the whole process and understand how it could affect your revenue growth as a business.

Business intelligence

The competition among online businesses is at its peak. This has more to do with the ready availability of insightful data. When data acquisition at this scale wasn’t possible in the past, businesses made hit-or-miss decisions upon instincts. Now that every activity can be recorded, extracted as data and analysed to arrive at the best business decisions, companies are making the most of it to boost their revenue. This includes monitoring the activity of competitors on social media, price intelligence, sentiment analysis, gathering data for market research and much more. The use cases of web scraping in business is almost infinite. Business intelligence is extremely helpful for the survival of companies in a market that fluctuates often. Implementing a business intelligence strategy powered by web scraping can definitely give a boost to your revenue growth.
Cost centres involved in in-house Web Scraping

Web scraping, despite being a robust solution for extracting data from the web, is not going to be an easy path if your company is not technically rich already. It involves setting up resources like a tech stack and servers that can run the web crawler by a technically skilled team. Following are the primary cost centres involved in the web scraping process.

1. High end servers

Web scraping is a resource intensive process. Considering the importance of uptime here, the crawlers cannot be run on average performance machines. To have the optimum uptime and avoid crashes, the crawler has to be run on high performing servers located in different parts of the world. The quality of servers is crucial to the consistency of the process. Not to mention, these high end servers makeup for a significant amount of the cost involved in web scraping.

2. Technically skilled labour

Scanning through the source code to identify appropriate tags that hold the required data points and creating a program that can automatically fetch these data points from similar pages’ at large scale requires deep programming skills. It goes without saying that employing skilled people would incur cost that could take a hit on your revenue. Ideally, you will need a team of at least 10 to run a web scraping setup in-house.       

3. An extensive tech stack

Although most of the software being used for web scraping are open source, you will find yourself investing in paid software to make certain things easier or faster. Dealing with open source software might not be as user friendly as the paid ones. In any case, having a tech stack with a lot of options is a necessary aspect of web scraping that would incur additional cost.   

4. Maintenance

Building and running the web scraping setup is only half of the story. Since websites undergo changes often, there is a possibility of the crawler setup breaking from time to time. To avoid or solve this at the earliest, a monitoring system that involves both machines and humans is necessary. Monitoring and maintenance contribute to a considerable cost in the web scraping process.
Data as a service

If data for business is your requirement, a better way to acquire it would be to depend on a company that can deliver it via the data as a service route. Web scraping companies have already set up high-end resources required to run the web crawlers that you can utilize to avail web scraping at a much lower cost than what you would incur by doing it on your own. With this, you can also save yourself from the complications and maintenance headache associated with web scraping. Moreover, with a web scraping service, you can enjoy a much higher return on investment owing to the lowered cost of data acquisition. You can use our ROI calculator to compare between the cost of going with an in-house web scraping setup and a hosted solution.

Source: https://www.promptcloud.com/blog/web-scraping-affects-revenue-growth

Easy Web Scraping using PHP Simple HTML DOM Parser Library

Easy Web Scraping using PHP Simple HTML DOM Parser Library

Web scraping is only way to get data from website when  website don’t provide API to access it’s data. Web scraping involves following steps to get data:

    Make request to web page
    Parse/Extract data that you want to scrape from website.
    Store data for final output (excel, csv,mysql database etc).

Web scraping can be implemented in any language like PHP, Java, .Net, Python and any language that allows to make web request to get web page content (HTML text) in to variable. In this article I will show you how to use Simple HTML DOM PHP library to do web scraping using PHP.
PHP Simple HTML DOM Parser

Simple HTML DOM is a PHP library to parse data from webpages, in short you can use this library to do web scraping using PHP and even store data to MySQL database.  Simple HTML DOM has following features:

    The parser library is written in PHP 5+
    It requires PHP 5+ to run
    Parser supports invalid HTML parsing.
    It allows to select html tags like Jquery way.
    Supports Xpath and CSS path based web extraction
    Provides both the way – Object oriented way and procedure way to write code

Scrape All Links

<?php
include "simple_html_dom.php";

//create object
$html=new simple_html_dom();

//load specific URL
$html->load_file("http://www.google.com");

// This will Find all links
foreach($html->find('a') as $element)
   echo $element->href . '<br>';

?>

Scrape images

<?php
include "simple_html_dom.php";

//create object
$html=new simple_html_dom();

//load specific url
$html->load_file("http://www.google.com");

// This will Find all links
foreach($html->find('img') as $element)
   echo $element->src . '<br>';

?>

This is just little idea how you can do web scraping using PHP.Keep in mind that Xpath can make your job simple and fast. You can find all methods available in SimpleHTMLDom documentation page.

Source: http://webdata-scraping.com/web-scraping-using-php-simple-html-dom-parser-library/

Web Scraping – A trending technique in data science!!!

Web Scraping – A trending technique in data science!!!

Web scraping as a market segment is trending to be an emerging technique in data science to become an integral part of many businesses – sometimes whole companies are formed based on web scraping. Web scraping and extraction of relevant data gives businesses an insight into market trends, competition, potential customers, business performance etc.  Now question is that “what is actually web scraping and where is it used???” Let us explore web scraping, web data extraction, web mining/data mining or screen scraping in details.

What is Web Scraping?

Web Data Scraping is a great technique of extracting unstructured data from the websites and transforming that data into structured data that can be stored and analyzed in a database. Web Scraping is also known as web data extraction, web data scraping, web harvesting or screen scraping.

What you can see on the web that can be extracted. Extracting targeted information from websites assists you to take effective decisions in your business.

Web scraping is a form of data mining. The overall goal of the web scraping process is to extract information from a websites and transform it into an understandable structure like spreadsheets, database or csv. Data like item pricing, stock pricing, different reports, market pricing, product details, business leads can be gathered via web scraping efforts.

There are countless uses and potential scenarios, either business oriented or non-profit. Public institutions, companies and organizations, entrepreneurs, professionals etc. generate an enormous amount of information/data every day.

Uses of Web Scraping:

The following are some of the uses of web scraping:

•     Collect data from real estate listing
•     Collecting retailer sites data on daily basis
•     Extracting offers and discounts from a website.
•     Scraping job posting.
•     Price monitoring with competitors.
•     Gathering leads from online business directories – directory scraping
•     Keywords research
•     Gathering targeted emails for email marketing – email scraping
•     And many more.

There are various techniques used for data gathering as listed below:

•     Human copy-and-paste – takes lot of time to finish when data is huge
•     Programming the Custom Web Scraper as per the needs.
•     Using Web Scraping Softwares available in market.

Are you in search of web data scraping expert or specialist. Then you are at right place. We are the team of web scraping experts who could easily extract data from website and further structure the unstructured useful data to uncover patterns, and help businesses for decision making that helps in increasing sales, cover a wide customer base and ultimately it leads to business towards growth and success.

We have got expertise in all the web scraping techniques, scraping data from ajax enabled complex websites, bypassing CAPTCHAs, forming anonymous http request etc in providing web scraping services.

Source: http://webdata-scraping.com/web-scraping-trending-technique-in-data-science/

Calculate your ROI on Web Scraping using our ROI Calculator

Calculate your ROI on Web Scraping using our ROI Calculator

Staying atop the competition is a vital thing for the survival and growth of businesses these days. Ever since big data came into the picture, web scraping has become something businesses from every industry has to invest in. If your company is not in a technically advanced industry, web scraping could even be a nightmare to start with. Wondering if going with in-house web scraping is right for you? In house or outsourcing, in the end it’s all about the returns on investment.

ROI Calculator

Considering the numerous factors that determine how much web scraping can cost you, it’s not easy to calculate the ROI on your in-house web scraping.

In house web scraping is certainly a challenging process. If you plan on going down this way, here is a brief list of prerequisites.

Engineers

Technically skilled labour is an essential requirement for web scraping. Since, web scraping techniques are complicated, it needs good programming skills to write, run and maintain the scraping bots. The cost of labour can be one of the drawbacks with doing in house web scraping.

Hardware Resources

Web scraping is a resource hungry process which requires high end servers and lots of bandwidth. Without the adequate resources, you might end up losing important data. The cost of quality servers could easily make you want to reconsider doing web scraping on your own. Not to mention the doubling up of these resources in order to keep the data intact, espcially if you’re looking at large scale.

Maintainability and ukeep of your tech stack

Once you have your servers and other technical components setup, the real deal only starts. You have to ensure availability of your servers, data backups, restoring previous states, failovers, among many other complications associated with managing servers and fixing them up when something goes wrong. You need to allocate resources (both people and hardware) to take care of the above.

Time

Time is something that we cannot really include in the equation when it comes to calculating the returns. But it is definitely a factor that defines if web scraping in house is worth it. Although web scraping is the fastest way to acquire data, the initial setup and maintenance are time consuming and complicated. This could easily lead to conflicts when you have to distribute your time between web scraping and other business activities that are crucial for your company.

Try the ROI Calculator

We came up with an ROI calculator to easily calculate your returns on investment with our web scraping services. Using this, you could easily compare the cost of in house web scraping with PromptCloud’s dedicated web scraping services. Find out how much you can save by going the PromptCloud way.

Source: https://www.promptcloud.com/blog/calculate-roi-on-web-scraping

Why Healthcare Companies should look towards Web Scraping

Why Healthcare Companies should look towards Web Scraping

The internet is a massive storehouse of information which is available in the form of text, media and other formats. To be competitive in this modern world, most businesses need access to this storehouse of information. But, all this information is not freely accessible as several websites do not allow you to save the data. This is where the process of Web Scraping comes in handy.

Web scraping is not new—it has been widely used by financial organizations, for detecting fraud; by marketers, for marketing and cross-selling; and by manufacturers for maintenance scheduling and quality control. Web scraping has endless uses for business and personal users. Every business or individual can have his or her own particular need for collecting data. You might want to access data belonging to a particular category from several websites. The different websites belonging to the particular category display information in non-uniform formats. Even if you are surfing a single website, you may not be able to access all the data at one place.

The data may be distributed across multiple pages under various heads. In a market that is vast and evolving rapidly, strategic decision-making demands accurate and thorough data to be analyzed, and on a periodic basis. The process of web scraping can help you mine data from several websites and store it in a single place so that it becomes convenient for you to a alyze the data and deliver results.

In the context of healthcare, web scraping is gaining foothold gradually but qualitatively. Several factors have led to the use of web scraping in healthcare. The voluminous amount of data produced by healthcare industry is too complex to be analyzed by traditional techniques. Web scraping along with data extraction can improve decision-making by determining trends and patterns in huge amounts of intricate data. Such intensive analyses are becoming progressively vital owing to financial pressures that have increased the need for healthcare organizations to arrive at conclusions based on the analysis of financial and clinical data. Furthermore, increasing cases of medical insurance fraud and abuse are encouraging healthcare insurers to resort to web scraping and data extraction techniques.

Healthcare is no longer a sector relying solely on person to person interaction. Healthcare has gone digital in its own way and different stakeholders of this industry such as doctors, nurses, patients and pharmacists are upping their ante technologically to remain in sync with the changing times. In the existing setup, where all choices are data-centric, web scraping in healthcare can impact lives, educate people, and create awareness. As people no more depend only on doctors and pharmacists, web scraping in healthcare can improve lives by offering rational solutions.

To be successful in the healthcare sector, it is important to come up with ways to gather and present information in innovative and informative ways to patients and customers. Web scraping offers a plethora of solutions for the healthcare industry. With web scraping and data extraction solutions, healthcare companies can monitor and gather information as well as track how their healthcare product is being received, used and implemented in different locales. It offers a safer and comprehensive access to data allowing healthcare experts to take the right decisions which ultimately lead to better clinical experience for the patients.

Web scraping not only gives healthcare professionals access to enterprise-wide information but also simplifies the process of data conversion for predictive analysis and reports. Analyzing user reviews in terms of precautions and symptoms for diseases that are incurable till date and are still undergoing medical research for effective treatments, can mitigate the fear in people. Data analysis can be based on data available with patients and is one way of creating awareness among people.

Hence, web scraping can increase the significance of data collection and help doctors make sense of the raw data. With web scraping and data extraction techniques, healthcare insurers can reduce the attempts of frauds, healthcare organizations can focus on better customer relationship management decisions, doctors can identify effective cure and best practices, and patients can get more affordable and better healthcare services.

Web scraping applications in healthcare can have remarkable utility and potential. However, the triumph of web scraping and data extraction techniques in healthcare sector depends on the accessibility to clean healthcare data. For this, it is imperative that the healthcare industry think about how data can be better recorded, stored, primed, and scraped. For instance, healthcare sector can consider standardizing clinical vocabulary and allow sharing of data across organizations to heighten the benefits from healthcare web scraping practices.

Healthcare sector is one of the top sectors where data is multiplying exponentially with time and requires a planned and structured storage of data. Continuous web scraping and data extraction is necessary to gain useful insights for renewing health insurance policies periodically as well as offer affordable and better public health solutions. Web scraping and data extraction together can process the mammoth mounds of healthcare data and transform it into information useful for decision making.

To reduce the gap between various components of healthcare sector-patients, doctors, pharmacies and hospitals, healthcare organizations and websites will have to tap the technology to collect data in all formats and present in a usable form. The healthcare sector needs to overcome the lag in implementing effective web scraping and data extraction techniques as well as intensify their pace of technology adoption. Web scraping can contribute enormously to the healthcare industry and facilitate organizations to methodically collect data and process it to identify inadequacies and best practices that improve patient care and reduce costs.

Source: https://www.promptcloud.com/blog/why-health-care-companies-should-use-web-scraping

Business Intelligence & Data Warehousing in a Business Perspective

Business Intelligence & Data Warehousing in a Business Perspective

Business Intelligence

Business Intelligence has become a very important activity in the business arena irrespective of the domain due to the fact that managers need to analyze comprehensively in order to face the challenges.

Data sourcing, data analysing, extracting the correct information for a given criteria, assessing the risks and finally supporting the decision making process are the main components of BI.

In a business perspective, core stakeholders need to be well aware of all the above stages and be crystal clear on expectations. The person, who is being assigned with the role of Business Analyst (BA) for the BI initiative either from the BI solution providers' side or the company itself, needs to take the full responsibility on assuring that all the above steps are correctly being carried out, in a way that it would ultimately give the business the expected leverage. The management, who will be the users of the BI solution, and the business stakeholders, need to communicate with the BA correctly and elaborately on their expectations and help him throughout the process.

Data sourcing is an initial yet crucial step that would have a direct impact on the system where extracting information from multiple sources of data has to be carried out. The data may be on text documents such as memos, reports, email messages, and it may be on the formats such as photographs, images, sounds, and they can be on more computer oriented sources like databases, formatted tables, web pages and URL lists. The key to data sourcing is to obtain the information in electronic form. Therefore, typically scanners, digital cameras, database queries, web searches, computer file access etc, would play significant roles. In a business perspective, emphasis should be placed on the identification of the correct relevant data sources, the granularity of the data to be extracted, possibility of data being extracted from identified sources and the confirmation that only correct and accurate data is extracted and passed on to the data analysis stage of the BI process.

Business oriented stake holders guided by the BA need to put in lot of thought during the analyzing stage as well, which is the second phase. Synthesizing useful knowledge from collections of data should be done in an analytical way using the in-depth business knowledge whilst estimating current trends, integrating and summarizing disparate information, validating models of understanding, and predicting missing information or future trends. This process of data analysis is also called data mining or knowledge discovery. Probability theory, statistical analysis methods, operational research and artificial intelligence are the tools to be used within this stage. It is not expected that business oriented stake holders (including the BA) are experts of all the above theoretical concepts and application methodologies, but they need to be able to guide the relevant resources in order to achieve the ultimate expectations of BI, which they know best.

Identifying relevant criteria, conditions and parameters of report generation is solely based on business requirements, which need to be well communicated by the users and correctly captured by the BA. Ultimately, correct decision support will be facilitated through the BI initiative and it aims to provide warnings on important events, such as takeovers, market changes, and poor staff performance, so that preventative steps could be taken. It seeks to help analyze and make better business decisions, to improve sales or customer satisfaction or staff morale. It presents the information that manager's need, as and when they need it.

In a business sense, BI should go several steps forward bypassing the mere conventional reporting, which should explain "what has happened?" through baseline metrics. The value addition will be higher if it can produce descriptive metrics, which will explain "why has it happened?" and the value added to the business will be much higher if predictive metrics could be provided to explain "what will happen?" Therefore, when providing a BI solution, it is important to think in these additional value adding lines.

Data warehousing

In the context of BI, data warehousing (DW) is also a critical resource to be implemented to maximize the effectiveness of the BI process. BI and DW are two terminologies that go in line. It has come to a level where a true BI system is ineffective without a powerful DW, in order to understand the reality behind this statement, it's important to have an insight in to what DW really is.

A data warehouse is one large data store for the business in concern which has integrated, time variant, non volatile collection of data in support of management's decision making process. It will mainly have transactional data which would facilitate effective querying, analyzing and report generation, which in turn would give the management the required level of information for the decision making.

The reasons to have BI together with DW

At this point, it should be made clear why a BI tool is more effective with a powerful DW. To query, analyze and generate worthy reports, the systems should have information available. Importantly, transactional information such as sales data, human resources data etc. are available normally in different applications of the enterprise, which would obviously be physically held in different databases. Therefore, data is not at one particular place, hence making it very difficult to generate intelligent information.

The level of reports expected today, are not merely independent for each department, but managers today want to analyze data and relationships across the enterprise so that their BI process is effective. Therefore, having data coming from all the sources to one location in the form of a data warehouse is crucial for the success of the BI initiative. In a business viewpoint, this message should be passed and sold to the managements of enterprises so that they understand the value of the investment. Once invested, its gains could be achieved over several years, in turn marking a high ROI.

Investment costs for a DW in the short term may look quite high, but it's important to re-iterate that the gains are much higher and it will span over many years to come. It also reduces future development cost since with the DW any requested report or view could be easily facilitated. However, it is important to find the right business sponsor for the project. He or she needs to communicate regularly with executives to ensure that they understand the value of what's being built. Business sponsors need to be decisive, take an enterprise-wide perspective and have the authority to enforce their decisions.

Process

Implementation of a DW itself overlaps with some phases of the above explained BI process and it's important to note that in a process standpoint, DW falls in to the first few phases of the entire BI initiative. Gaining highly valuable information out of DW is the latter part of the BI process. This can be done in many ways. DW can be used as the data repository of application servers that run decision support systems, management Information Systems, Expert systems etc., through them, intelligent information could be achieved.

But one of the latest strategies is to build cubes out of the DW and allow users to analyze data in multiple dimensions, and also provide with powerful analytical supporting such as drill down information in to granular levels. Cube is a concept that is different to the traditional relational 2-dimensional tabular view, and it has multiple dimensions, allowing a manager to analyze data based on multiple factors, and not just two factors. On the other hand, it allows the user to select whatever the dimension he wish to choose for analyzing purposes and not be limited by one fixed view of data, which is called as slice & dice in DW terminology.

BI for a serious enterprise is not just a phase of a computerization process, but it is one of the major strategies behind the entire organizational drivers. Therefore management should sit down and build up a BI strategy for the company and identify the information they require in each business direction within the enterprise. Given this, BA needs to analyze the organizational data sources in order to build up the most effective DW which would help the strategized BI process.

High level Ideas on Implementation

At the heart of the data warehousing process is the extract, transform, and load (ETL) process. Implementation of this merely is a technical concern but it's a business concern to make sure it is designed in such a way that it ultimately helps to satisfy the business requirements. This process is responsible for connecting to and extracting data from one or more transactional systems (source systems), transforming it according to the business rules defined through the business objectives, and loading it into the all important data model. It is at this point where data quality should be gained. Of the many responsibilities of the data warehouse, the ETL process represents a significant portion of all the moving parts of the warehousing process.

Creation of a powerful DW depends on the correctness of data modeling, which is the responsibility of the database architect of the project, but BA needs to play a pivotal role providing him with correct data sources, data requirements and most importantly business dimensions. Business Dimensional modeling is a special method used for DW projects and this normally should be carried out by the BA and from there onwards technical experts should take up the work. Dimensions are perspectives specific to a business that could be used for analysis purposes. As an example, for a sales database, the dimensions could include Product, Time, Store, etc. Obviously these dimensions differ from one business to another and hence for each DW initiative those dimensions should be correctly identified and that could be very well done by a person who has experience in the DW domain and understands the business as well, making it apparent that DW BA is the person responsible.

Each of the identified dimensions would be turned in to a dimension table at the implementation phase, and the objective of the above explained ETL process is to fill up these dimension tables, which in turn will be taken to the level of the DW after performing some more database activities based on a strong underlying data model. Implementation details are not important for a business stakeholder but being aware of high level process to this level is important so that they are also on the same pitch as that of the developers and can confirm that developers are actually doing what they are supposed to do and would ultimately deliver what they are supposed to deliver.

Security is also vital in this regard, since this entire effort deals with highly sensitive information and identification of access right to specific people to specific information should be correctly identified and captured at the requirements analysis stage.

Advantages

There are so many advantages of BI system. More presentation of analytics directly to the customer or supply chain partner will be possible. Customer scores, customer campaigns and new product bundles can all be produced from analytic structures resulting in high customer retention and creation of unique products. More collaboration within information can be achieved from effective BI. Rather than middle managers getting great reports and making their own areas look good, information will be conveyed into other functions and rapidly shared to create collaborative decisions increasing the efficiency and accuracy. The return on human capital will be greatly increased.

Managers at all levels will save their time on data analysis, and hence saving money for the enterprise, as the time of managers is equal to money in a financial perspective. Since powerful BI would enable monitoring internal processes of the enterprises more closely and allow making them more efficient, the overall success of the organization would automatically grow. All these would help to derive a high ROI on BI together with a strong DW. It is a common experience to notice very high ROI figures on such implementations, and it is also important to note that there are many non-measurable gains whilst we consider most of the measurable gains for the ROI calculation. However, at a stage where it is intended to take the management buy-in for the BI initiative, it's important to convert all the non measurable gains in to monitory values as much as possible, for example, saving of managers time can be converted in to a monitory value using his compensation.

The author has knowledge in both Business and IT. Started career as a Software Engineer and moved to work in the business analysis area of a premier US based software company.

Source: http://ezinearticles.com/?Business-Intelligence-and-Data-Warehousing-in-a-Business-Perspective&id=35640

Difference between Data Mining and KDD

Difference between Data Mining and KDD

Data, in its raw form, is just a collection of things, where little information might be derived. Together with the development of information discovery methods(Data Mining and KDD), the value of the info is significantly improved.

Data mining is one among the steps of Knowledge Discovery in Databases(KDD) as can be shown by the image below.KDD is a multi-step process that encourages the conversion of data to useful information. Data mining is the pattern extraction phase of KDD. Data mining can take on several types, the option influenced by the desired outcomes.

Knowledge Discovery in Databases Steps
Data Selection

KDD isn’t prepared without human interaction. The choice of subset and the data set requires knowledge of the domain from which the data is to be taken. Removing non-related information elements from the dataset reduces the search space during the data mining phase of KDD. The sample size and structure are established during this point, if the dataset can be assessed employing a testing of the info.
Pre-processing

Databases do contain incorrect or missing data. During the pre-processing phase, the information is cleaned. This warrants the removal of “outliers”, if appropriate; choosing approaches for handling missing data fields; accounting for time sequence information, and applicable normalization of data.
Transformation

Within the transformation phase attempts to reduce the variety of data elements can be assessed while preserving the quality of the info. During this stage, information is organized, changed in one type to some other (i.e. changing nominal to numeric) and new or “derived” attributes are defined.
Data mining

Now the info is subjected to one or several data-mining methods such as regression, group, or clustering. The information mining part of KDD usually requires repeated iterative application of particular data mining methods. Different data-mining techniques or models can be used depending on the expected outcome.
Evaluation

The final step is documentation and interpretation of the outcomes from the previous steps. Steps during this period might consist of returning to a previous step up the KDD approach to help refine the acquired knowledge, or converting the knowledge in to a form clear for the user.In this stage the extracted data patterns are visualized for further reviews.
Conclusion

Data mining is a very crucial step of the KDD process.

For further reading aboud KDD and data mining ,please check this link.

Source: http://nocodewebscraping.com/difference-data-mining-kdd/

Three Common Methods For Web Data Extraction

Three Common Methods For Web Data Extraction

Probably the most common technique used traditionally to extract data from web pages this is to cook up some regular expressions that match the pieces you want (e.g., URL's and link titles). Our screen-scraper software actually started out as an application written in Perl for this very reason. In addition to regular expressions, you might also use some code written in something like Java or Active Server Pages to parse out larger chunks of text. Using raw regular expressions to pull out the data can be a little intimidating to the uninitiated, and can get a bit messy when a script contains a lot of them. At the same time, if you're already familiar with regular expressions, and your scraping project is relatively small, they can be a great solution.

Other techniques for getting the data out can get very sophisticated as algorithms that make use of artificial intelligence and such are applied to the page. Some programs will actually analyze the semantic content of an HTML page, then intelligently pull out the pieces that are of interest. Still other approaches deal with developing "ontologies", or hierarchical vocabularies intended to represent the content domain.

There are a number of companies (including our own) that offer commercial applications specifically intended to do screen-scraping. The applications vary quite a bit, but for medium to large-sized projects they're often a good solution. Each one will have its own learning curve, so you should plan on taking time to learn the ins and outs of a new application. Especially if you plan on doing a fair amount of screen-scraping it's probably a good idea to at least shop around for a screen-scraping application, as it will likely save you time and money in the long run.

So what's the best approach to data extraction? It really depends on what your needs are, and what resources you have at your disposal. Here are some of the pros and cons of the various approaches, as well as suggestions on when you might use each one:

Raw regular expressions and code

Advantages:

- If you're already familiar with regular expressions and at least one programming language, this can be a quick solution.

- Regular expressions allow for a fair amount of "fuzziness" in the matching such that minor changes to the content won't break them.

- You likely don't need to learn any new languages or tools (again, assuming you're already familiar with regular expressions and a programming language).

- Regular expressions are supported in almost all modern programming languages. Heck, even VBScript has a regular expression engine. It's also nice because the various regular expression implementations don't vary too significantly in their syntax.

Disadvantages:

- They can be complex for those that don't have a lot of experience with them. Learning regular expressions isn't like going from Perl to Java. It's more like going from Perl to XSLT, where you have to wrap your mind around a completely different way of viewing the problem.

- They're often confusing to analyze. Take a look through some of the regular expressions people have created to match something as simple as an email address and you'll see what I mean.

- If the content you're trying to match changes (e.g., they change the web page by adding a new "font" tag) you'll likely need to update your regular expressions to account for the change.

- The data discovery portion of the process (traversing various web pages to get to the page containing the data you want) will still need to be handled, and can get fairly complex if you need to deal with cookies and such.

When to use this approach: You'll most likely use straight regular expressions in screen-scraping when you have a small job you want to get done quickly. Especially if you already know regular expressions, there's no sense in getting into other tools if all you need to do is pull some news headlines off of a site.

Ontologies and artificial intelligence

Advantages:

- You create it once and it can more or less extract the data from any page within the content domain you're targeting.

- The data model is generally built in. For example, if you're extracting data about cars from web sites the extraction engine already knows what the make, model, and price are, so it can easily map them to existing data structures (e.g., insert the data into the correct locations in your database).

- There is relatively little long-term maintenance required. As web sites change you likely will need to do very little to your extraction engine in order to account for the changes.

Disadvantages:

- It's relatively complex to create and work with such an engine. The level of expertise required to even understand an extraction engine that uses artificial intelligence and ontologies is much higher than what is required to deal with regular expressions.

- These types of engines are expensive to build. There are commercial offerings that will give you the basis for doing this type of data extraction, but you still need to configure them to work with the specific content domain you're targeting.

- You still have to deal with the data discovery portion of the process, which may not fit as well with this approach (meaning you may have to create an entirely separate engine to handle data discovery). Data discovery is the process of crawling web sites such that you arrive at the pages where you want to extract data.

When to use this approach: Typically you'll only get into ontologies and artificial intelligence when you're planning on extracting information from a very large number of sources. It also makes sense to do this when the data you're trying to extract is in a very unstructured format (e.g., newspaper classified ads). In cases where the data is very structured (meaning there are clear labels identifying the various data fields), it may make more sense to go with regular expressions or a screen-scraping application.

Screen-scraping software

Advantages:

- Abstracts most of the complicated stuff away. You can do some pretty sophisticated things in most screen-scraping applications without knowing anything about regular expressions, HTTP, or cookies.

- Dramatically reduces the amount of time required to set up a site to be scraped. Once you learn a particular screen-scraping application the amount of time it requires to scrape sites vs. other methods is significantly lowered.

- Support from a commercial company. If you run into trouble while using a commercial screen-scraping application, chances are there are support forums and help lines where you can get assistance.

Disadvantages:

- The learning curve. Each screen-scraping application has its own way of going about things. This may imply learning a new scripting language in addition to familiarizing yourself with how the core application works.

- A potential cost. Most ready-to-go screen-scraping applications are commercial, so you'll likely be paying in dollars as well as time for this solution.

- A proprietary approach. Any time you use a proprietary application to solve a computing problem (and proprietary is obviously a matter of degree) you're locking yourself into using that approach. This may or may not be a big deal, but you should at least consider how well the application you're using will integrate with other software applications you currently have. For example, once the screen-scraping application has extracted the data how easy is it for you to get to that data from your own code?

When to use this approach: Screen-scraping applications vary widely in their ease-of-use, price, and suitability to tackle a broad range of scenarios. Chances are, though, that if you don't mind paying a bit, you can save yourself a significant amount of time by using one. If you're doing a quick scrape of a single page you can use just about any language with regular expressions. If you want to extract data from hundreds of web sites that are all formatted differently you're probably better off investing in a complex system that uses ontologies and/or artificial intelligence. For just about everything else, though, you may want to consider investing in an application specifically designed for screen-scraping.

As an aside, I thought I should also mention a recent project we've been involved with that has actually required a hybrid approach of two of the aforementioned methods. We're currently working on a project that deals with extracting newspaper classified ads. The data in classifieds is about as unstructured as you can get. For example, in a real estate ad the term "number of bedrooms" can be written about 25 different ways. The data extraction portion of the process is one that lends itself well to an ontologies-based approach, which is what we've done. However, we still had to handle the data discovery portion. We decided to use screen-scraper for that, and it's handling it just great. The basic process is that screen-scraper traverses the various pages of the site, pulling out raw chunks of data that constitute the classified ads. These ads then get passed to code we've written that uses ontologies in order to extract out the individual pieces we're after. Once the data has been extracted we then insert it into a database.

Source: http://ezinearticles.com/?Three-Common-Methods-For-Web-Data-Extraction&id=165416

Best Alternative For Linkedin Data Scraping

Best Alternative For Linkedin Data Scraping

When I started my career in sales, one of the things that my VP of sales told me is that ” In sales, assumptions are the mother of all f**k ups “. I know the F word sounds a bit inappropriate, but that is the exact word he used. He was trying to convey the simple point that every prospect is different, so don’t guess, use data to come up with decisions.

I joined Datahut and we are working on a product that helps sales people. I thought I should discuss it with you guys and take your feedback.

Let me tell you how the idea evolved itself. At Datahut, we get to hear a lot of problems customers want to solve. Almost 30 percent of all the inbound leads ask us to help them with lead generation.

Most of them simply ask, “Can you scrape Linkedin for me”?

Every time, we politely refused.

But not anymore, we figured out a way to solve their problem without scraping Linkedin.

This should raise some questions in your mind.

1) What problem is he trying to solve?– Most of the time their sales team does not have the accurate data about the prospects. This leads to a total chaos. It will end up in a waste of both time and money by selling the leads that are not sales qualified.

2) Why do they need data specifically from Linkedin? – LinkedIn is the world’s largest business network. In his view, there is no better place to find leads for his business than Linkedin. It is right in a way.

3) Ok, then what is wrong in scraping Linkedin? – Scraping Linkedin is against its terms and it can lead to legal issues. Linkedin has an excellent anti-scraping mechanism which can make the scraping costly.

4) How severe is the problem? – The problem has a direct impact on the revenues as the productivity of the sales team is too low. Without enough sales, the company is a joke.

5) Is there a better way? – Of course yes. The people with profiles in LinkedIn are in other sites too. eg. Google plus, CrunchBase etc. If we can mine and correlate the data, we can generate leads with rich information. It will have better quality than scraping LinkedIn.

6) What to do when the machine intelligence fails? – We have to use human intelligence. Period!

Datahut is working on a platform that can help you get leads that match your ideal buyer persona. It will be a complete Business intelligence platform powered by machine and human intelligence for an efficient lead research & discovery.We named it Leadintel. We’ve also established some partnerships that help to enrich the data and saves the trouble of lawsuits.

We are opening our platform for beta users. You can request an invitation using the contact form. What do you think about this? What are your suggestions?

Thanks for reading this blog post. Datahut offers affordable data extraction services (DaaS) . If you need help with your web scraping projects let us know and we will be glad to help.

Source:http://blog.datahut.co/best-alternative-for-linkedin-data-scraping/

Extract Data from Multiple Web Pages into Excel using import.io

In this tutorial, i will show you how to extract data from multiple web pages of a website or blog and save the extracted data into Excel spreadsheet for further processing.There are various methods and tools to do that but I found them complicated and I prefer to use import.io to accomplish the task.Import.io doesn’t require you to have programming skills.The platform is quite powerful,user-friendly with a lot of support online and above all FREE to use.

You can use the online version of their data extraction software or a desktop application.The online version will be covered in this tutorial.

Let us get started.

Step 1:Find a web page you want to extract data from.
You can extract data such as prices, images, authors’ names, addresses,dates etc

Step 2:Enter the URL for that web page into the text box here and click “Extract data”.

Then click  “Extract data” Import.io will transform the web page into data in seconds.Data such as authors,images,posts published dates and posts title will be pulled from the web page as shown in the image below.

Import.io extracted only 40 posts or articles from the first page of the blog!.
If you visit bongo5.com you will notice that the web page is having a total of 600+ pages at the time of writing this article and each page has 40 posts or articles on it as can be shown by the image below.
Next step will show you how to extract data from multiple pages of the web page into excel.

Step 3:Extract Data from Multiple Web Pages into Excel

Using the import.io online tool you can extract data from 20 web pages maximum.Go to the bottom right corner of the import.io online tool page and click “Download CSV” to save the extracted data from those 20 pages into Excel.
Note:Using the import.io desktop application you can extract an unlimited number of pages and pin point only the data you want to extract.Check out this tutorial on how to use the desktop application.
Once you click “Download CSV” the following pop up window will appear.You can specify the number of pages you want to get data from up to a maximum of 20 pages then click “Go!”
You will need to Sign up for a free account to download that data as a CSV, or save it as an API.If you save it as an API you can go back to the API later to extract new data if the web page is updated without the need to repeat the steps we have done so far.Also, you can use the API for integration into other platforms.
Below image shows 20 rows out of 800 rows of data extracted from the 20 pages of the web page.

Conclusion

The online tool doesn’t offer much flexibility than the desktop application.For example, you can not extract more than 20 pages and you can not pin point the type of data you want to extract.For a more advanced tutorial on how to use the desktop application, you can check out this tutorial I created earlier.

Source URL : http://nocodewebscraping.com/extract-multiple-web-pages-data-into-excel/

4 Web Scraping Tools To Save You Time On Data Extraction

Either you are working on a product website, struggling to add live data feed to your app or merely need to pull out a huge amount of online data for analysis, an accurate web scraping tool can save you loads of time and keep you sane. Here are four powerful web scraping tools to save you from copy-pasting or spending time on writing your own scripts.

Uipath  specializes in developing various process automation software including web scraping and screen scraping software for desktop and web. Uipath web scraper is perfect for non-coders and easily surpasses most common data extraction challenges including page navigation, digging through flash and even scraping PDF files. All you need to do is open the web scraping wizard and simply highlight the data you need to extract. The tool will scrape all the data following this pattern at all pages you’ve chosen and sort it accordingly. You can add as many items for scraping as you like and have them sorted in respective columns. As a result, you receive a neat Excel or CSV document with all the data eliminated from duplicates.

Moreover, Uipath isn’t just about scraping. This software can be used not only for extracting data, but to manipulate the interface of another app, thus establishing data transfers among the two of them. Basically, this tool could be used to conduct any repetitive task a human could do, yet much faster and with higher accuracy.

Pros: You can automate form filling, clicking buttons, navigation etc. Uipath scraper is impressively accurate, fast and simple to use. It “reads” all types of data on screen (JS, HTML, Silverlight and more), plus you can train the software to emulate human actions of various complexity.

Cons: Premium software runs at a premium price. Uipath is an affordable professional solution, but may be a bit too pricey for personal use.

 Import.io  offers you a free desktop app to help you scrap all the data you need from an unlimited amount of web pages. The service treats each page as a potential data source to generate API from. If the page you’ve submitted has been previously processed, you can access its API and get some of the data. In other case, Import.io will guide you through the process of creating the scraping matrix by building connectors (for navigation) or extractors (to pull out the needed data). Afterwards, you submit a request for extraction and it’s typically processed within 24 hours. All the data is private and you can schedule auto refreshments at any chosen period of time.

Pros: The service is easy-to-use with no tech skills needed. It can  pages with data (those that needed login/pass), plus it’s free. Minimalistic effective design and simple navigation comes along.

Cons: Improt.io has hard times navigating through combinations of javascript/POST and cannot navigate from one page to another (e.g. click next, second page etc).  Sometimes, it takes over 24 hours to receive the report.  Besides, it’s a browser-only app, non-compatible with other applications.

Kimono is a popular web scraper among app developers who prefer to power up their products with live data and no additional code. It saves you tons of time when you need to fill up your app with mashing data. Install Kimono Browser bookmarklet; highlight page elements you need to and provide some positive/negative examples to train the tool. After labeling all the data you can download it in CSV/JSON/a web endpoint format. The APIs created for your pages are stored in the cloud and you can run them on schedule. So far, Kimono is free to use with pro and enterprise solutions to be launched soon.

Pros: The tool works pretty fast and works great with scraping newsfeeds and prices. The data is rather accurate.

Cons: No page navigation available and you need to spend quite a lot of time to train Kimono before it starts to pull out the multi items data accurate enough. In general, I’d say Kimono is more of an app mash-ups creator than a full-scale web scraper.

 Screen Scraper  is pretty neat and tackles a lot of difficult tasks including navigation and precise data extractions, however it requires a bit of programming/tokenization skills if you’d like to run it super smooth. Launch the software, add a proxy, start recording the list of your actions and creating extracting patterns (some coding required). Works great with HTML and Javascript, however you should test it with Citrix and other platforms. Basically, screen scraper helps you writing simple web scraping scripts and lets you download the extracted data in txt/csv/excel format.

Pros: When set correctly, there’s no data extraction tasks Screen scraper fails to handle.
Cons: The tool is pricey and you’ll have to go through documentation and have basic coding skills to use it.

Source URL :  http://tech.co/4-web-scraping-tools-save-time-data-extraction-2015-03