Alibaba Group can be described as a data company, a top executive said, adding that the firm’s online marketplace Taobao’s greatest contribution is getting to know the consumers’ habits.
The Chinese e-commerce group’s Chief Technology Officer Wang Jian said businesses must bear in mind that the key to success is turning data into a fortune. Alibaba’s micro loans operation is the best manifestation of that path, Sina Finance quoted him as saying in a Sunday report.
Enterprises have to rely on cloud-computing to obtain value from big data at the lowest cost, he said. Failure to do so could even be a matter of survival, Wang said.
He cited Alibaba’s chairman Jack Ma as saying that other companies use data to sell their products, but Alibaba is selling things to get data.
But Wang said that Alibaba is still having a primitive understanding of data, as in the case of competitor Suning Commerce Group (002024.CN) with regard to e-commerce.
“Alibaba’s understating about data is not be more than Suning’s understanding about e-commerce,” he said. “We should respect Suning, but its understanding about e-commerce is really not enough.”
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