The power of data analytics

In Asia’s fiercely competitive markets, benchmarked proprietary data is an invaluable currency. Addressing real-time needs in real-time, data management systems are being used to drive service delivery improvements, and enhance the overall quality of the purchasing and after-sales experience.

In a 2016 report entitled Manufacturing our Future: Cases on the Future of Manufacturing, the World Economic Forum, notes “advanced data analytics allow for applying mathematical tools and statistics to business data. The objective is to identify patterns and relationships. […] Big data enables the processing and making of predictive analytics with datasets previously considered as too large and complex.”

Examples include:

  • Shared and optimized data tools and analytic capabilities enable firms to analyze and understand the variegated buying behaviors of their clients and create proactive sales and marketing initiatives that engage and interact with (rather than sell to) key customers 
  • On a more granular level, sophisticated back-end reporting, accurate product and stock management data, contextualized customer and market information enable sales, marketing and service teams to efficiently respond to a broad range of customer queries 
  • Encouraging traditionally territorial divisions like IT, marketing, operations and sales to share digitized market intelligence and analytic techniques and solutions informs the market strategy and increases knowledge and awareness between brands and customers
  • In some instances, brands are interrogating e-commerce sales data to create virtual purchasing maps, with the most concentrated “heat map” locations considered as viable options for third-party collection points or even pop-up retail stores

Sellers who are ready to meet customers at different points on their journeys will exploit digital tools more fully, allocate sales and marketing resources more successfully, and stimulate collaboration between these two functions, thereby helping to win over reluctant buyers.

Do you really understand how your business customers buy? McKinsey & Company, February 2015

Developing market intelligence capabilities can be costly and inefficient for small- and medium-sized companies. Instead, they can leverage the data collation, analysis and management expertise of Market Expansion Services (MES) providers. By utilizing established networks and an on-the-ground knowledge of shifting consumer, business and legal trends, MES providers are uniquely positioned to deliver meaningful insights and conclusions that create competitive advantage and eliminate risk. 

MES providers can also process comprehensive data sets to determine the right channel strategies that meet the needs of customers and clients in each Asian market – and support cost-effective business expansion as part of an integrated omni-channel strategy.