Chinese Internet entrepreneur Jack Ma has delivered a keynote speech in the annual e-commerce conference recently in China. Starting the speech, he mentioned the Alibaba Group would undergo business transformation after Chinese Lunar New Year in the year of 2013. In fact, the major highlight was Ma would like to provide a more customer oriented Internet service by leveraging the consolidation of digital data and to share with others.
But won’t you question the embedded reasons why Ma has made this business decision to change the future layout of the Alibaba Group? As Ma foresees the particular importance of data and believes that the data will revolutionize the world. He used a metaphor to explain data is actually the weather broadcast to predict the future global financial trend and even give the government a macro insight in what way should the city moves ahead.
Under Alibaba Group, altogether seven businesses are operated daily and thus generate a big data everyday. Indeed, data won’t speak and insignificant unless share to different parties. Simultaneously, Ma also encouraged the e-commerce entrepreneurs to think in-depth about the issues. Don’t be afraid of what you lost, but to fear you give others something wrong or even gave somebody nothing. Try to be engaged with others and share the data with them. Somehow it is possible to enlighten and refresh your business mindset.
Taobao, one of Ma’s businesses, this online store independently has more than 100 million daily visits, which is equivalent to the total population of five in Shanghai. Let’s do a simple calculation! If the number of registered users reached 600 million, of which 1% of the people are dissatisfied, that indicates 600 million people are dissatisfying with Taobao service. Thus, if e-commerce entrepreneur can gain the customer insights by identifying their navigation behaviors from the huge bunch of data and make some improvements, to enhance the user experiences, these benefits both the business and customers a lot!
As one of China’s most famous Internet entrepreneur, Ma already laid his historical positioning. We do not have special myth about Ma, but often you can get some of the insights from his lectures, or life experience. For workplace observation inspired vision or understanding about China’s e-commerce and business history, and then to see him on the importance of data mining as well as experience, is really a lesson.