What Is Price Parser and How It Works

A parser is an automated tool that collects data according to specified criteria. Such a program will run daily (and if necessary, several times a day) through the sites you specify, which may include your competitors’ web resources, online marketplaces, or price aggregators, and will provide you with the data obtained.

You cannot do without a clear market picture if you want to shape an effective parsing strategy. It means that at any given moment, you need to know the following:

• which of your competitors are charging the lowest prices for similar products;
• how the price of goods has changed over a period of time;
• whether there is a shortage or oversupply of a particular product or product group in the market;
• who provides the most attractive installment purchase terms;
• who launches promotions and at which terms, etc.

Here is where parsing — the process of open online data collection — and parser may help.

The parser has become the only alternative to manual monitoring. It can get through thousands of pages in a very short time.

How Parser Works

Just like any software, its work is based on a certain algorithm:

1. The software visits web pages of your choice at preset time intervals or runs on demand. It simulates the behavior of a real user as much as possible to bypass site security.
2. It collects the types of data you specify.
3. It saves the collected data.
4. It analyzes the collected data.
5. It reproduces the results in a table, dashboard, or report.

To get such a helpful tool, you can choose one of two ways: develop your software or use a ready-made SaaS solution (i.e., a cloud service provided to users on a subscription basis). What difficulties and pitfalls may await your company on the first path? Learn from the article “Competitor Price Parser. Should you develop your software or use a ready-made solution?”

Resume:

What is a price parser?

A price parser is an automated tool that collects price data based on specified criteria.

How to make a price parser?

You can develop a price parser in-house, or you can use a ready-made solution from Pricer24. Why the second option is more reliable and less expensive in terms of time and budget – read in the article.

How to monitor competitors’ prices?
Theoretically, it is possible to track competitors’ prices manually by entering the data into an excel table. But when it comes to thousands of product positions and dozens of competitors, it takes so much time that it loses its meaning. That’s why players in highly competitive markets (such as online retailers and electronics brands) take advantage of the automated data collection that Pricer24’s market analysis provides.