Web Data Budgets Increase for 90% of Companies

Web data has been a growing concern for most companies, so it is understandable that a majority of them are looking to increase their budgets for acquiring this data with all things having been considered and taken into account. A new study that was published by Bright Data revealed some insights into the state of web data and how urgently companies need it, and it turns out that 87% of companies have reported requiring a higher amount of web data than ever before.

Conducted in September of this year of 2022, the survey in question involved around 500 professionals across numerous sectors including finance, travel and retail. With all of that having been said and now out of the way, it is important to note that 90% of the companies who were involved in this survey stated that they are increasing their budgets for web data so that they can get their hands on more of it.

The manner in which these companies might collect their data is quite diverse, with 55% considering partnering up with third parties who specialize in gathering data that is useful for these companies. That represents a 25% increase year over year, and it suggests that companies are more willing to find collaborators who can help them acquire the necessary data.

In spite of the fact that this is the case, 48% are still focused on collecting the data themselves at least partially, and 32% would like to be able to purchase prepackaged datasets that are essentially off the shelf. Diversity is definitely the name of the game right now, since 97% of companies are trying to use as many data sets as possible.

Social media platforms and search engines are just two of the many resources that companies are using to acquire web data. If these trends hold, we might be able to tell which methodology ends up working out best. The companies that work with third parties might have an edge, but it is possible that those collecting their own data will be able to harvest higher quality data sets and it will be interesting to see what happens.

Read next: 85% of Organizations Plan to Increase Automation by 2025
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