Collaboration with changingedu.com to enhance data analysis in Chinese tutoring solutions
iClick Interactive Asia Group Limited (“iClick”) (NASDAQ:ICLK), a leading independent online marketing technology platform in China, today announced that it was extending its suite of Business Intelligence (“BI”) solutions to the online education sector. iClick’s consumer datasets and analytics will bring enhanced value to a sector that is increasingly being driven by data and changing consumption patterns.
iClick is cooperating with changingedu.com, a leading platform that provides online and physical after-school tutoring to primary and secondary students in China, to establish the new BI-powered education system. The enhanced solution will help changingedu.com improve its operational efficiency and capture new growth momentum through more sophisticated data mining and advanced analytics.
Jian Tang,COO, CTO and Co-founder of iClick said, “We are thrilled to work with changingedu.com to bring our BI solutions to a fast developing sector. We believe data plays a vital role in matching the learning needs of young people, and in providing more personalized learning experience and tutorial materials as a whole. I am sure that we will see success in the online education sector that underlines the effectiveness of our BI solutions and we hope it will be adopted in other business verticals going forward.”
Jacky Wang, COO of changingedu.com said, “We are excited to partner with iClick to raise the standard of data management and promote operational efficiencies through data. The new collaboration will drive more business initiatives and developments to sustain our success. The company will continue to deploy a data-centric strategy in managing our business to tap the significant growing opportunities in the online education market in China.”
iClick has the largest collection of datasets profiling Chinese online consumers1 and significant value will come from integrating this with changingedu.com’s wealth of first-party data of more than one million registered users from over 30 provinces and cities in China. The parties will develop a Data Management Platform (DMP) and Social Customer Relationship Management (SCRM) System specifically for changingedu.com to effectively analyze and develop more in depth and actionable insights from their data. This will refine business operations by facilitating personalized courses and tutor recommendations based on students’ profiles, learning progress analysis and consumption statistics. To aid sales and marketing, changingedu.com will now have the tools to better understand the needs of new and recurring members and their lifecycles.
Another major value proposition of this collaboration is the application of location-based services (LBS) technology. Using iClick’s deep analytics capabilities, changingedu.com is able to infer if a user is living in a certain target district or community, and enrich customer profiles by identifying factors such as marital status, income, interests, online behaviors and price sensitivity, allowing changingedu.com to push relevant and targeted marketing messages aligned with users’ needs. A ‘lookalike’ technology is also deployed to evaluate potential customers based on the existing member profiles.
Data from China-based market research company iResearch shows that there are now over 160 million primary and secondary students in China. The country’s online education market has grown over 30% year-on-year since 2013. In 2017, its total market size reached RMB29.9 billion with a growth rate as high as 51.8%. Rising income level, parents placing higher value on education and the increasing demand for quality after-school tutoring services are all accelerators of the industry growth.
Previously, iClick launched its powerful BI solutions successfully in a number of sectors including retail, transportation and real estate. iClick’s breakthrough collaboration with changingedu.com sets a benchmark for others in the field and also marks the successful progress of the company’s strategy.