SAN DIEGO, March 13, 2016 /PRNewswire/ -- "Industry and consumption upgrading is creating new growth opportunities to Chinese economic restructuring. Big data industry backed by data science empowers enterprises with scientific marketing philosophy to lead the industry trend," said Michael Xu, Co-President of Gridsum, a board member and Chairman of Greater China at the Member Forum of Searching Engine Marketing Professional Organization, SEMPO, a non-profit organization leading in global searching engine and digital marketing industry.
SEMPO Member Forum was held on March 10-11, 2016, at San Diego, California. Member companies from worldwide marketing experts and marketers of brands, including well-known companies such as Google and Yahoo! participated the event.
In the speech titled "Something about China", Mr. Xu said that even though China's economy slows down in recent years, consumer spending of the country keeps rising. In 2015, the sales revenue on "Singles Day", China's on-line shopping festival, is about 7 times of the sales revenue of U.S. "Black Friday". In addition, China's outbound tourism trips reach to 120 million with total spending up to 1.5 trillion yuan, in which 46% luxury goods purchased worldwide. All indicate that Chinese people's spending power has become new driving force of world economy.
As Chinese spending power increases, people would like to obtain goods they want and been delivered as fast as possible, therefore, hopping online is the most popular way. Consumer behavior has become more personalized and diversified. Furthermore, consumers are more willing to pay for brands with higher awareness, better quality and friendly interface of user experience. For example, on Singles Day, 2015, JD.com received over 10 million orders in 10 hours, up by 180% year on year. On Feb. 18, 2016 when Apple Pay landed in China, 38 million UnionPay cards holders engaged with the service.
It is challenging for companies doing digital marketing on how to effectively understand consumer demands, pinpoint the need of every unique potential consumer, enhance interaction with customers, and develop effective communications with consumers. Under such circumstances, more and more companies are seeking solutions from big data service providers like Gridsum.
JD.com received "International Big Data Innovative Application Award" at this forum for its successful outcome on the Singles Day shopping festival. With Gridsum's big data marketing solution, JD.com distributed 32 million keywords within 10 hours. Compared to traditional manual approach, it saved 100,000 man-hours – equivalent to a team of four members working 24x7 for 8 years. According SEMPO, the "International Big Data Innovative Application Award" recognizes companies which actively leverage big data technologies to explore and enable business innovation, create new business value in competitive market, and make great achievements.
In addition to e-commerce, demands for big data services in other areas are also increasing. vipabc, winner of "International Big Data Marketing Best Practice Award", is also a customer of Gridsum. vipabc is a company specializing in online education, aiming to break the space and time barriers in traditional education framework and providing 24x7 online English teaching services for worldwide students.
The transformation doesn't just happen in consumer industry. During China's structural reform, big data has been a focus of the government for many years. The recently Government Report by Premier Li Keqiang particularly mentioned to promote broad adoption of cloud computing, the Internet of Things, and big data..
As the leader of big data era, the U.S. integrates R&D of big data into Digital Government Strategy in many areas like environment protection and greatly improved national governance and administration. With rich data resources and market strength of applications, China has broad prospect for developing big data.
Some industry insiders believe that the broad adoption of big data in government administration, retail, healthcare, manufacturing and other areas has generated a trillion-dollar-level market.
Michael Xu is optimistic about the adoption of big data in China. He believes that at the mobile internet sector, economy development is breaking geographical barriers. It will become core driving force of enterprises to efficiently use big data technologies to achieve better business outcome and deliver better experiences to global users. Big data companies are facing broader business opportunities.
SOURCE Gridsum Technology