Managing Director, Millward Brown Vermeer
Greater China, Africa, Middle East, Asia Pacific
In today’s digital and data-enabled world, the fastest growing businesses are those that put insights and analytics at the center of their strategy. As validated in our global Insights20201 study, over-performers foster a more customer-centric culture and build structures and capabilities to deliver insight-led strategies.
Chinese businesses outperform the global average in delivering ‘Data Driven Customization’ and ‘Touch Points Consistency’. Chinese brands also stand out from their global counterparts, scoring higher on ‘Experimentation’ and ‘Collaboration’. In China, the cost of waiting is high, the cost of failing low – Chinese brands experiment more and learn faster.
However, Chinese companies do not seem to be as “customer obsessed” as their global counterparts. Customer Centricity is a top priority for the leaders at 91 percent of the global over-performing companies, compared to only 67 percent in China.
It's not due to lack of data. In fact, we often hear of ‘Infobesity.’ Insights and Analytics teams that leverage the power of data effectively are in a position to shape the business agenda. This, though, requires a significant change in capabilities. Chinese companies have an opportunity to catch up with global over-performers in making Insights & Analytics more business focused, in taking a more ‘whole-brain’ approach to data, and in being better storytellers to create more impact.
1325 businesses, marketing, and I&A leaders were interviewed, and more than 10,000 practitioners from 60 countries participated in the online Insights2020 survey.