Wendy Berk is Director, Digital Marketing & Strategic Partnerships at Upround Ventures. She regularly evaluates dynamic Israeli startups focussed on leveraging the Chinese and Southeast Asian markets.
Jack Ma recently predicted that “data would become one of the world’s most valuable commodities like water, electricity and oil ”- Bloomberg
Big Data is a big deal for Israel and China. Two countries who are very different in every way and yet suitable for innovation partnerships. I would even venture to say that because of the dynamic differences (language, culture, geography, etc.) they complement each other nicely.
On my recent travels to China, I was fortunate to speak with many Chinese investors on their overall vision and insights into the future of the Chinese market. From PE, family funds, corporate offices and different BAT (Baidu, Alibaba and Tencent) divisions, I can tell you there is one common thing they all want right now — a functional and creative way to handle their Big Data.
Exabytes, zettabytes, yottabytes — making sense of the data
As a small country surrounded by not-so-friendly neighbours, Israeli entrepreneurs approach technology innovation with an understanding of meeting a global need — not just an Israeli one. Technology, often developed in the military and then adopted to global consumer use, deals with analysing and making sense of the yottabytes for a variety of sectors. While traditionally more used to addressing American and European needs, Israeli ingenuity adapts easily and efficiently to the Chinese consumer needs.
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China is a massive country with a billion people and multiple geographical divisions. Making it a country of not only many in number but diverse in needs. At its expansive rate of growth, the Chinese market can guarantee plenty of winners even in the most competitive of markets.
However, with this overwhelming development comes the lack of creatively and meticulously developed hard-core technology focussed on organising, filtering and rendering meaningful data. Chinese companies are the most capable of managing millions of users from day one, but not necessarily being able to produce actionable information on these users.
The Chinese market is well positioned to leverage Israeli innovation to meet the following trends:
- Trying to meet needs of a large consumer base
- Customer intelligence increasing
- Companies trying to capitalise on large data infusion
- Companies developing strategies based on Big Data analytics
Explosive market + massive data points = robust technologies
Chinese companies are accumulating hordes of data in virtually every sector, finding the meaning in their data and how to use it to drive business are the next hurdles. Additionally, utilising Big Data analytical technology can also benefit companies looking to fast track their capabilities. As indicated by a recent survey cited by eMarketer, the Big Data/analytics evolution in China is clear, growing and currently underserved.
For Chinese companies to compete globally or even to produce the best results within their own geography, they will need to utilise Big Data analytics. They will need Israeli technology at an accelerated pace.
The views expressed here are of the author’s, and e27 may not necessarily subscribe to them. e27 invites members from Asia’s tech industry and startup community to share their honest opinions and expert knowledge with our readers. If you are interested in sharing your point of view, please send us an email at writers[at]e27[dot]co