Undervalued China’s Big Data Industry is growing quickly, where the intention is to collect large data sets for a variety of end-users though “China’s big data industry is still in its initial stages, a mere concept perhaps” – such disparagement can be seen everywhere in the press.
Although many big data companies in China are still struggling to find a profitable business model.
It’s hard to say whether it’s a better idea for tech companies to focus on the “big” aspect of big data or to carve out a niche in a specialized market. If we look at successful examples abroad, many companies choose a narrow focus at first before going on to provide a wider array of services.
In China, the industry’s prospects hinge on the ability of companies to analyze and interpret data, not just gather and store it. Climbing up the value chain with meaningful, valuable conclusions will be a new test for an industry where size often takes a backseat to interpretative skill.