Big Data transforming Chinese business
Written by Mark Evans
Big data is significantly changing many sectors of the Chinese economy, according to research by ICAEW, in partnership with the Shanghai National Accounting Institute and Chinese technology company Inspur.
The latest report Big Data in Chinese Businesses, analyses investment in data and associated technology that is placing China at the forefront of opportunities with artificial intelligence.
Kirstin Gillon, ICAEW IT technical manager, said, “China provides an excellent learning environment about the opportunities to learn from big data. Two features put China in a strong position to generate and exploit big data – the sheer size of China, and its rapid adoption of mobile technology. The most transformational way for big data to create value is through new business models, but it can also enhance sales and marketing, operational efficiency, and product planning and investment.”
However, there are significant organisational challenges in realising the value of big data. The research and case studies highlight many practical issues that are common to companies across the world as they transition from legacy systems and thinking to become a more data-centric organisation.
The full report can be found here.