Bank operations staff work to avoid bumps, bites, and bruises while doing business in the Information Age, but scrapes are a different thing. With robotic process automation, the bank’s data management personnel can perform enhanced web scraping to pull together, sift through and select powerful information to help a financial institution better understand business trends and anticipate industry shifts.
New RPA software elevates the harvesting of actionable data from websites and online databases. It acts as an intelligent web data extraction solution, sophisticated in its performance and functionality, but simple in its usability. No programming, coding or special technical knowledge is required.
Primarily a screen-scraping tool 20 years ago, RPA has evolved with greater logic and applicability, offering a considerably more robust method of gathering valuable information on the Web. Web scraping, data mining and information extraction can deliver vital information for a bank’s planning efforts. RPA software allows an operations manager or specialist to mine the Internet for data at lightning speed and collect target information across a variety of formats. The proper data extraction software sifts through each straw as the haystack is built versus diving in from the top hoping to find the need (or needle).
RPA offers many advantages over the traditional web-scraping functionality:
Scrape with very little wait
The data automation tool navigates entire websites with ease, scraping and extracting only the data you want. It can even capture screenshots or copy images. Programming an RPA task is easy and extraction is always smooth.
Export web data for analysis
The tool works seamlessly with Excel, Access and most cloud-based applications. It has never been easier to analyze competitors’ pricing information, stock quotes, real estate data, and other web-based information.
Quick startup means fast results
Setup of the “automated employee” is simple – if you can drag, drop and click a mouse, you can learn to use the robot. No hassles or delays for a bank’s data management team.
Banking is an industry of big demands and challenges, from shifts in the economy to increased regulations and more. Harnessing “Big Data” is critical for banks to boost performance. That applies to a financial institution’s customer database, obviously, but also to the wealth of external information on the Web: market studies, social media, and customer sentiment analysis and other reservoirs of data that can shine a light on strategic opportunities and help hone best practices.
Do your bank (and boss) a favor and find out how the right RPA software tool can expand your web-scraping ability to gather information about your industry including trends, patterns, and forecasts. With RPA, put automation in your company’s critical data curation.
Interested in learning how an RPA software solution can help you? Find out more here.