REPLY New Tool “China Beats” Provides Deep Insights Into the Chinese Market
TD Reply, the company specializing in marketing and innovation consulting within the Reply Group, developed China Beats, a business intelligence solution that enables companies to gain an in-depth understanding of the Chinese market and its players. This is ensured by AI-supported social listening with connection to all major Chinese e-commerce, social media and search platforms such as Alibaba, Baidu, WeChat and Weibo.
The prosperity of the Chinese population is growing at a rapid pace. According to analysts estimates, around 550 million Chinese will belong to the middle class by 2022. As a result, the Chinese market is also becoming increasingly important for international companies. Entering the market, however, is challenging, especially in terms of reliable identification of target groups, analysis of their consumer behavior and preferences. Digital data can provide a remedy, because the majority of Chinese consumers are netizens who shop on digital platforms, exchange their opinions there and thus leave behind many digital traces.
Advantage through market insights
Obtaining reliable data from Chinese online platforms has so far been a resource-intensive and technically challenging task. In addition, an in-depth understanding of the Chinese market is necessary to draw the right conclusions from the data.
This is where China Beats comes in, a newly developed business intelligence solution from TD Reply. The development is being driven forward jointly by the Berlin and Beijing locations. The Beijing location, which opened in 2010, has already supported several leading industry players in expanding their business in China using digital data. The market knowledge gained over many years as well as the corresponding technical know-how have been strongly incorporated into the development of China Beats.
"China Beats will be the first SaaS-Solution that can answer questions like: In which markets in China can I be particularly successful with my products? Who are the players? And above all: How does the Chinese consumer tick, whom I want to convince", says Lars Alexander-Mayer, Partner TD Reply. "Users gain unique market insights - which lay the foundation for long-term success in China."
Understanding Chinese consumers
The answers are provided by digital data and through the AI-supported Advanced Analytics Engine. All relevant Chinese e-commerce, social media and search platforms such as Alibaba, Baidu, WeChat and Weibo are connected as data sources. Millions of social media posts, forum entries and reviews are evaluated. In addition there are contextual data from legislative texts, patent databases, news platforms and job portals.
The reduction and analysis of the data is carried out by advanced scrapping algorithms and Machine Learning combined with Natural Language Processing. "The technology allows the recognition of context, slang, and clustering of core information into different subject areas. Consumer perceptions in China are interpreted correctly and made easily available to the user," says Lars-Alexander Mayer. "The data and insights flow together in the performance dashboard. In the end, users have all strategically relevant information that has to do with their business in China in one place".
China Beats will be presented to a wider audience at the Reply Xchange in Munich and Milan. The launch will follow in Q3 2019. Users of Pulse, TD Reply's Insights platform, will have the opportunity to integrate China Beats into their existing dashboards. For further information visit: www.ChinaBeats.io.
Reply [MTA, STAR: REY] specialises in the design and implementation of solutions based on new communication channels and digital media. Reply is a network of highly specialised companies supporting key European industrial groups operating in the telecom and media, industry and services, banking, insurance and public administration sectors in the definition and development of business models enabled for the new paradigms of big data, cloud computing, digital media and the Internet of Things. Reply services include: Consulting, System Integration and Digital Services. www.reply.com