Hong Kong-based firms have been harnessing the power of business analytics way beyond executive reporting for several years now. And in the last 12 months, industry players have been going deeper into their customer profiling to detect their changing tastes and anticipate their demands for new products and services.
“The ability to know what the market will purchase from your company is a critical element in being market driven and it will continue to drive companies onto the market driven journey and analytics adoption in the next year,” said Wilson Ho, general manager of SAS Hong Kong.
Data-driven customer experiences will continue to take the driver’s seat in steering today’s hyper-competitive global economy. Marketers in Hong Kong are striving to use everything they know about a customer, such as both internal and online data, to enable more relevant, targeted and individualized communications through all marketing touch points.
“The advent of a new customer journey has given us an opportunity to rethink our digital data-driven business strategy and see what approaches worked best at different phases of the journey. Businesses in Hong Kong will continue to explore the opportunities to monetize customer data in 2017,” Ho said.
IBM also saw increased focus on customer analytics in the past year among companies based in the city. For instance, the technology vendor conducted a comprehensive data analytics campaign with Shanghai Commercial Bank to enable the bank to measure and analyze social media data.
It also involved the process of crunching and consolidating CRM data together with unstructured social data, transforming it into a strategic smart data–a holistic picture of a customer’s single view to identify a specific portfolio.
After analyzing the data, the bank was able to generate meaningful insights to help the bank engage target customers with on-target marketing strategies.
“Companies are looking for analytics that can help their topline business growth,” said Samson Tai, IBM distinguished engineer and CTO, IBM Hong Kong. “Customer analytics can help them understand their customers and offer the right products at the right time through the right channel.”
The need for speed
In recent years, the industry has seen the proliferation of self-service analytics that allows various teams within an organization to do their own data crunching without too much dependence on their IT team. And it is expected to continue in the new year.
“We are seeing the rise of embedded, self-service analytics as well as more analytics deployment on mobile devices across the board–with specific use cases or applications for different industries,” said Arics Poon, managing director for Greater China of Qlik.
He said that Qlik Sense, the vendor’s disruptive self-service data discovery offering, is witnessing exponential growth throughout the year.
Qlik Sense’s open APIs pave the road to embedded analytics and allow developers to rapidly customize, extend and embed it into new applications to address unique business needs and new data sources.
Baidu is currently using Qlik Sense to improve its cloud services platform and provide an enhanced data analytics experience to its customers. It is integrated into Baidu Palo to enable self-serving visualization analytics on the Palo OLAP engine, giving Chinese enterprises the ability to achieve greater agility in aggregating data from various sources to make data-driven, business intelligence decisions.