SAS looks at steady annual growth in China
Cliff Wu, president of SAS in Greater China, feels that the company is capable of achieving 30-40% growth every year for the next few years. March 08, 2012 | Baron LaudermilkSAS has been growing rapidly in the Chinese market for the past few years, and is only expected to accelerate this growth in the coming years. Their business analytic’s software is becoming more accepted with in the Chinese market, with Chinese banking leaders slowly opening up to the possibilities offered by the various SAS modeling tools. But SAS has not always seen this rate of growth inChina. Like many foreign companies, it started off small, and saw growth quickly accelerate whenChinaentered the World Trade Organization (WTO) in 2001. SAS has been inChinafor nearly 30 years, initially making simple statistical models for the National Statistics Bureau, state-owned Chinese labs, and Dai Dong Steel. Around the year 2000 SAS penetrated the Chinese banking industry by inking a deal with Industrial and Commercial Bank of China (ICBC). During the last five years, SAS has won deals from more than 30 Chinese banks, with these banks adopting SAS modeling software tools for use by risk management departments, and more recently by marketing teams within the retail banking sector. Today, SAS inChinahas over 500 employees employed through three offices inBeijing,Shanghai, andGuangzhou. The company has big plans for its future growth inChina, seeing significant opportunity asChinalooks to rely more on domestic demand rather than exports. This should not only lead to a more developed retail banking sector - and more opportunities for SAS - but with the Chinese government encouraging banks to lend more to small and micro enterprises, business analytics such as those offered by SAS will begin to play an increasingly important role in determining where the risk lies in such lending. But strong growth does not come without challenges. SAS needs local partners to enable the company to penetrate the vast expanses of the country where many of the lower tier banks who will provide loans to small and micro enterprises are based. This is not an ea... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Channels, China, Data & Analytics, Data Management, Innovation, Technology & OperationsChannels,China,Data & Analytics,Data Management,Innovation,technology, Channels,China,Data & Analytics,Data Management,Innovation,Technology & Operations, Keywords:Cliff Wu, SAS, IT Infrastructure, China Mingsheng Bank, Business Analytics Cliff Wu, SAS, IT Infrastructure, China Mingsheng Bank, Business Analytics
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