Sharing Economy Transforms Business Operations & Large-Scale Data Collection

With the ever-changing commercial landscape, businesses strive to improve operations and offer customers the best possible prices for their products and services. It is a key element in retaining competitiveness recognized by, for example, European Commission, as crucial for supplying consumers with better-quality and low-price products.

Companies stay ahead of the competition through several processes, one being price comparison. It involves scanning large amounts of data to compare a particular product across multiple channels. Such an operation enables companies to view relevant and structured data for price adjustments and offer the best possible deals to customers.

On the other hand, price comparison has become available to the global audience, and people can discover which companies have the best prices for particular products themselves. In the U.S., the most popular price comparison tool is Google Shopping scoring 60% on brand awareness. In a highly competitive market where competitors and customers can evaluate a company’s price strategy, comprehensive price comparison is necessary.

Another important business process is product catalog monitoring. It is a broader operation that includes checking product availability, variety, discounts, and relevant shopping information. Monitoring the changes in the product catalog enables businesses to react to any market shifts promptly. 

Both operations are crucial for companies, especially in e-commerce, to remain competitive and meet the demand of their customers for good-quality and low-price products. Even the British government has developed its own price comparison tool to help people choose among the various items. 

Notably, companies need to scan through enormous amounts of data and enable price comparison tools to provide reliable data. That’s why large-scale data solutions based on the sharing economy have emerged to help businesses collect real-time data from various online sources.

Using solutions like Honeygain, a crowdsourced web intelligence network, price comparison can be done using publicly available online data collected ethically, including user consent and safety measures. People share their unused Internet resources with the network, which is then used for price comparison and product catalog monitoring.

Utilizing the Honeygain network allows businesses to stay ahead of the competition by providing an innovative large-scale data collection solution. Moreover, Honeygain allows its users to participate in the sharing economy by allowing them to supply their Internet and make the Internet a better place for everyone. 

Honeygain compensates its users for participating in the sharing economy and helping others. Based on fairness and transparency, the network gives monetary rewards according to the amount of traffic shared. This motivates users to continuously help others by enabling businesses to sell products at reasonable prices. 

About Honeygain

Honeygain is the first-ever application that allows users to generate passive online income by sharing their Internet connection. It is the world’s first crowdsourced web intelligence network that provides services to global industries for price comparisons, advertisement verification, brand protection, and more.

This post was authored by an external contributor and does not represent Benzinga's opinions and has not been edited for content. This content contains sponsored advertising content and is for informational purposes only and not intended to be investing advice.