Data inspires and accelerates China and US cooperation

By Wu Yiyao In Shanghai | China Daily | Updated: 2015-09-25 08:00

As markets around the world undergo fast-paced transitions and commercial environments experience historic change, business relationships are becoming increasingly global, hyper-networked and digitally-enabled, which increases complexity and creates greater challenges for enterprises when managing relationships.

The key to solving such problems lies with data. Data, especially the notion of "big data", has long been a trend within industry and has become a hot topic in the Chinese media.

However, it is not the data itself which matters, but how enterprises can use this data intelligently and scientifically to inform their relationship building.

To be "data-inspired" is to realize the power of data. Dun& Bradstreet, the world's leading source of global commercial information and insight on businesses, believes that by finding truth and meaning in data, businesses can be inspired to create relationships that lead to sustainable and competitive advantages.

Dun & Bradstreet has always been willing to offer its advanced capabilities in data-inspired approaches with the world, including China, to help businesses grow and achieve their goals.

In China, there are millions of businesses looking to build and maintain reliable relationships with business partners, both domestically and globally.

This trend means there is also a wealth of fast-growing demand for commercial information services such as business credit information, enterprise compliance, and sales and marketing services.

Exploring and expanding bilateral cooperation, especially in business, is the focus of President Xi Jinping's ongoing visit to the United States.

Dun & Bradstreet's advantage in data and analytic capabilities is especially relevant in this context, bridging the information divide, facilitating relationship building and creating communication among companies to help accelerate bilateral business growth between China and the US.

Anthony Scriffignano, chief data scientist at Dun & Bradstreet, says "President Xi's visit to the States reflects Chinese enterprises' goodwill, and is a milestone that has huge ramifications for Sino-US cooperation.

"Dun & Bradstreet brings nearly 200 years of history and global experience to China. And we are committed to promoting the use of data in business decision making and helping enterprises manage operational risks and achieve business growth both at home and overseas."

Headquartered in Short Hills, New Jersey, the US, Dun& Bradstreet now has two subsidiaries in China - Huaxia Dun & Bradstreet China and Micromarketing Dun & Bradstreet - both of which are backed by Dun & Bradstreet's powerful data and analytic capabilities, including the world's largest commercial database with over 240 million business records.

"President Xi's visit will further boost business opportunities between the two countries," said Virginia Wong, market leader, Dun & Bradstreet China.

"US companies operating in China and Chinese companies looking to go abroad face challenges. For US businesses, issues of compliance and market analysis dominate, while a lack of understanding of international markets and credibility issues as well as the way of data application for business growth are among Chinese business challenges," she said.

The Sino-US relationship has always been regarded as one of the most important international bilateral relationships. With proactive attitudes and significant efforts from both sides, this relationship has steadily improved. Bilateral trade has consistently grown.

The same mindset should be adopted in the fast-changing world of business.

There are three ways an enterprise can handle the rapid pace of change: Ignore it and be left behind; watch it and try to keep up; or embrace it and be the one out front. Innovators respond to these pivotal moments by asking the right questions, listening for answers amongst the signals, and acting on those answers with conviction.

Dun & Bradstreet stands alongside those innovators, with its advantage in data and analytic capabilities, to help realize the goals of these businesses.

With data becoming one of the most important assets in competition in both domestic and overseas markets, Dun & Bradstreet has been consistently devoted to growing the most valuable relationships in business by uncovering truth and meaning from data, which helps enterprises manage operational risks, maximize returns on marketing investments and drive business growth.

wuyiyao@chinadaily.com.cn