At the Frankfurt Book Fair on October 27, the English version of “The Power of Datafication,” part of the “Chinese Entrepreneurs Series,” was officially launched. The book is represented by China National Publications Import & Export (Group) Corporation and is highlighted as a significant achievement within the series.
Written by Guo Wei, the chairman of Digital China, the book draws on over thirty years of industry experience. The English edition is published by LID Publishing in the UK.
In his book, Guo emphasizes that data assets represent a form of wealth in the digital age, and a company’s competitive edge is measured by the accumulation of these assets. The primary goal of digital transformation is to consistently gather data assets and repurpose them for innovative products and services. For businesses, a digital strategy is fundamentally aligned with their growth strategy.
Guo describes a new form of productivity as “Datafication,” which involves utilizing digital technologies to transform and upgrade industries. By accumulating data assets and replacing traditional assets with them, new productivity and vitality can be generated. Effective data collection and utilization enable businesses to better understand market trends, optimize production processes, and enhance product quality. Moving forward, figuring out how to translate these invaluable data assets into tangible value will be a critical area for both companies and individuals to explore.
He also highlights the distinction between informatization and digitalization. Informatization focuses on improving operational efficiency, while digitalization takes it a step further, aiming to create and accumulate data assets as the driving force for new growth. The formation of data assets is essential for businesses seeking agility, rapid iteration, and expansion into new markets. Throughout the digital transformation journey, the first step is to achieve datafication of business processes, followed by businessfication of data, creating a cycle that propels the company into a growth momentum.
Zhang Hong, the deputy general manager of China Publishing Group, noted that this book is an important milestone for the “Chinese Entrepreneurs Series.” The group, in collaboration with the China Publishing Company, plans to pursue further translation and publishing projects based on Guo’s latest work, aiming to enhance the series’ brand presence and showcase the strategic insights and industry thoughts of Chinese entrepreneurs to international audiences, contributing Chinese wisdom to global economic development.
