In the last five years, ‘big data in businesses’ has been one of the most critical discussions in the world of business. Richard Liu Qiangdong has embraced the big data debate by investing resources on data projects. Liu has been in business, and he understands the importance of having progressive policies especially on technology. The social science graduate is a perfect example that better policies are ideal in the business world. Richard Liu Qiangdong has also shown that working with different stakeholders is ideal. In a recent interview, he pointed out that his approach to business and working with other business has enabled his company to get enough funding.
Richard Liu Qiangdong also understands the importance of having a common ground between the online business entities and the physical stores. Under the umbrella of JD.com, he has been active in ensuring that both business realities capitalize on the business structures from both realities. In 2016, Liu gave hundreds of businesses a chance to use his company’s structures in their operations. Currently, he is working with different investors in ensuring that all businesses in China access the larger Chinese market. In less than three years, the business environment in China has experienced unmatched growth, thanks to Richard Liu Qiangdong vision.
He is now in another important project where he hopes to introduce technology to these small traders. In a press conference last year, Richard Liu Qiangdong said that the company is in the last stages of installing technology that will enable small traders to have control over the market. Liu believes that the future of trading, especially in a large economy, requires strategic planning and use of information. Through his company, he is working with different companies such as Intel to introduce technology that will help the small traders have control over their goods movement and more importantly, their consumption. In this setting, however, he still insists that the future of e-commerce trade depends on quality goods.
Lastly, Liu is also a firm believer in customer feedback. He advises the small business owners to implement what their customers post as feedback. According to him, utilizing feedbacks is one of the ways he was able to make JD.com a global giant in the consumer world.
For More info: www.chinainternetwatch.com/tag/jingdong/