BUSINESS Big data firm to drive digitalization in key sectors


Big data firm to drive digitalization in key sectors

China Daily

17:10, December 29, 2021

Cui Xiaobo, founder and CEO of TalkingData delivers a speech at the company's data intelligence summit on Dec 28, 2021. [Provided to]

TalkingData, a third-party data intelligence solution provider in China, is beefing up efforts to help companies engaged in sectors like internet-based businesses, fast-moving consumer goods, cosmetics, apparel, catering and finance achieve data-driven digital transformation.

Cui Xiaobo, founder and CEO of TalkingData, said the firm's big data service can be integrated with various application scenarios. Companies should seek new growth points of data flow, alongside the boom in the short video industry.

Traditional brands should make use of big data and related algorithm capacities to expand their sales channels and enhance brand awareness, Cui said.

The industries with the highest digitalization rate include cosmetics, maternal and infant goods, sports and fashion products, followed by retail chain enterprises in catering and clothing.

Citing the Personal Information Protection Law, which came into effect on Nov 1, Cui spoke highly of the Chinese government's ongoing efforts to protect small and medium-sized enterprises and bolster the healthy development of the big data industry.

Founded in 2011 in Beijing, TalkingData offers data services like data mining, advanced data analytics, data management platform and market insight reports.

On Nov 30, the Ministry of Industry and Information Technology unveiled a plan for the big data sector's development during the 14th Five-Year Plan period (2021-25), envisaging a scale topping 3 trillion yuan ($471 billion) by the end of 2025, with a compound annual growth rate of around 25 percent.

MIIT data showed China's big data sector grew rapidly over the past five years, with the scale exceeding 1 trillion yuan by 2020.

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