China 2016: INSIGHTS | DATA
by YI LI
KNOWING WHO, WHEN AND HOW
Chief Data Officer
China has a lot of data. Based on IDC (International Data Corporation), the nation has 13 percent of all the data in the world. Forecasts indicate that data from China will double every two years for the next five years, reaching a staggering 8.6 zettabytes by 2020.
The value of this sheer volume of data is insight. Insight that enables brands to create always-on valuable experiences, inspires creativity, and amplifies content relevantly. We have seen a trend amongst brands in China embarking on data strategies (what data attributes to collect, from which platforms) and making data part
of their core competencies. Some brands have started building their own Data Management Platforms (DMP) to generate a 360–degree- view of the customer, with the long- term vision of generating insights for brand and product innovation.
Brands seeking to leverage data partners to generate insight and create brand experience should look for those who can help to answer questions focused on Audience, Moment, and Channel (sales and communication), such as:
- Audience: Who could potentially be my customers?
- Moment: When is the right time (when needs arise) to reach and engage with consumers?
- Channels: How and where to engage them for key actions?
- The smartest brands will leverage their own data and insight learning and map it against external data sources for targeted acquisition and optimized consumer engagement.