How to Automate Supply Chain Risk Reports: A Guide for Developers
Do you use Python? If so, this guide will help you automate supply chain risk reports using AI Chat GPT and our News API.
The global marketplace is complex, highly competitive, and constantly in flux. As a result, assumptions made by companies today can fail to protect them in the future.
Supply chain disruptions and economic downturns can quickly upend a company’s position in the marketplace. Forward-thinking competitors will pivot their business operations or marketing strategy, enabling them to dominate the industry and replace previous leaders.
Take for example American exercise equipment producer Peloton. The pandemic boosted its sales and revenue. Yet on the same day, it announced record earnings, its stock dropped by 8%. The company was too slow to react to consumer unrest due to the company’s inability to ship its exercise machines. As a result, Peloton not only suffered financial losses but also took a hit on its reputation and market share.
Robust competitive intelligence, based on real-time news data, accessed by a News API, empowers the entire company’s operational team, from the CEO to regional managers, to preserve its competitive advantage in the global marketplace.
Market intelligence, therefore, should be the foundation upon which a company makes all of its business decisions.
Competitive intelligence is collecting, synthesizing, and analyzing data from published and non-published sources to protect a company’s competitive edge in the marketplace. It has become one of the most rapidly growing sectors of information technology, fueled by the need to make sound decisions quickly.
Competitor benchmarking reveals the intelligence behind competitor products and business strategies, providing business leaders with verifiable insights into future developments in their industry.
Sources of competitive intelligence include:
Market intelligence is a powerful tool for any business to optimize strategic planning, product development, pricing, marketing, and messaging, regardless of industry or size.
Real-time competitive intelligence provides companies with a knowledge advantage that enables them to
Finally, competitive intelligence enables a forward-vision approach to strategic planning that keeps a business at the head of its industry.
With the growing amount of generated data, it can be easy to overlook critical information about market trends and competitor activity. Furthermore, the sheer amount of information can quickly overwhelm company analysts, resulting in abandonment before reaching the most vital data.
Consider these statistics:
While every company is engaged in some level of business intelligence, capturing and analyzing the amount of data produced daily is virtually impossible. Yet, lack of access to critical developments in the marketplace, particularly competitor intelligence, leaves companies vulnerable to risks that harm their market share. Analysts cannot prepare decision-makers for market disruptions and new customer behaviors and preferences without access to an intel platform that yields real-time competitive intelligence.
Among the most critical challenges of competitive intelligence are uncovering qualitative and quantitative data and competitor identification.
A mere Google search will not uncover critical qualitative and quantitative data such as:
Gathering competitive intelligence begins with knowing both direct and indirect competitors. However, in a global market that’s constantly evolving, identifying competitors becomes more complex and time-consuming. New businesses emerge to take advantage of shifting customer preferences or technology disruptions.
The amount of intelligence a company needs to mine is considerable, including data such as:
As demonstrated above, the sheer amount of datasets involved in competitive intelligence makes developing actionable competitive analysis virtually impossible.
However, data accessed via News API is distilled to capture the meaning and sentiment behind every article, story, and image. Furthermore, this data is structured and enriched to deliver contextual, noise-free data that is quickly and easily readable by machines.
Webz.io News API is the secret behind a good competitive intelligence analysis that helps companies keep up with the volume and pace of market changes in today’s world.
Competitive intelligence fuelled by News API provides analysts with access to industry trends, emerging products and technologies, and customer preferences. Corporate decision-makers will be able to:
Webz.io’s News data feeds enable companies that offer data-driven solutions to provide their customers with the data needed to scale quickly and thrive in the rapidly changing competitive landscape.
Webz.io News API crawls millions of global sites in multiple languages daily. In addition, our advanced technology expands our coverage of new sources daily and according to our customer’s needs.
Webz.io gathers data daily, updated by smart, adaptive web crawlers to deliver near-real-time data.
To provide greater contextualized data on relevant market trends and competition history, Webz.io also offers 50TB of historical data from news, blogs, online forums, and reviews from across the web dating back to 2008.
In addition to news data feeds, Webz.io also offers an online reviews API, which provides near real-time data from e-commerce sites. This data shows companies how customers react to their competitors’ products. With this intelligence, analysts and strategists are better positioned to optimize new product offerings or upgrade to meet customer demands.
Knowledge is power.
Competitive intelligence empowers corporate decision-makers to optimize their business strategies to thrive in today’s highly competitive market. Webz.io’s News API is a standardized, near real-time web data feed that helps data-driven competitive intelligence solutions provide companies with the power of knowledge to succeed and scale in the global marketplace.
Competitive intelligence is critical to business success, but there is no time to collect all the data needed to create an actionable competitive analysis in today’s competitive environment. News API delivers comprehensive, structured data to fuel actionable insights, leaving corporate stakeholders to focus on scaling.
Ready to learn more about the best data feed for your competitive intelligence? Click here to talk to one of our data experts to explore how our News API can help you never miss critical intelligence again.
Do you use Python? If so, this guide will help you automate supply chain risk reports using AI Chat GPT and our News API.
Use this guide to learn how to easily automate supply chain risk reports with Chat GPT and news data.
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