The data governance market has reached the order of 10 billion yuan.
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Founded in December 2014, Yujifang is a data governance training and software development service provider.Business is publishing, training, certification, consulting and software development in the field of data governance. , Helping enterprise customers in various industries to lay a good foundation for data and improve data quality. The company’s main customers come from large units such as energy, finance, communications, and government.
The pain of enterprise data governance is that the foundation is not solid. The main problems are reflected in data inconsistency, irregularity, inaccuracy, and incomprehensibility. As a result, enterprise data assets are unclear and data is difficult to communicate, which ultimately leads to digital transformation being blocked.
Therefore, before data governance, enterprises need to conduct data asset inventory. Data asset inventory refers to the identification, sorting, re-recording, and classification of data, forming a data asset catalog, and clarifying the data of the enterprise.
The number of CEOs of Yujifang Liu Chen said that the data governance process consists of three main parts:
Improve the data asset catalog to standardize the data inventory process;
Standards to standardize differentiated data;
Improve data quality and transfer speed, reduce data redundancy, and protect data security.
In terms of product service, Yujifang offers consulting + product business. On the one hand, the company provides training, certification, capability assessment, master planning, special promotion, and full-life data governance service capabilities of normal operations. On the other hand, Yujifang is also committed to productization, which is reflected in the product + project + knowledge service + ecological value-added business. Because the product has standard methodologies and industry standard data, it can be reused, which is lighter than the customized mode.
Energy customers such as State Grid and China Southern Power Grid contributed 60 to 70% of the revenue of Yujifang. In the future, the company will also expand its customers in the government, brokerage, and operators. Liu Chen told that a provincial-level grid company has a budget of nearly 30 million yuan for big data in one year, which can reflect the efforts of traditional enterprises to invest in digital transformation.
At present, Yujifang’s annual revenue growth rate is 100%, and its revenue in 2018 is 250% higher than the same period of last year. 80% of the company’s revenue contribution comes from consulting services. Liu Chen said ifIf the service is still the main source of revenue, the total revenue will maintain a 50% growth in the next 2-3 years. After completing the Pre-A round of financing, the company will focus on product optimization as a key to maintaining revenue growth. It is estimated that revenue growth will remain at 100% annually. In terms of products, the Data Management Office (DG Office) and data grading products are being developed.
The competitors of Yujifang are mainly divided into four categories, including foreign enterprise consulting service providers (Ernst & Young, Deloitte), data management software vendors (IBM, Oracle, SAP), big data platform and middle platform (Star Technology, number 澜 Technology), IT integrator. In addition, service providers focused on the digitalization of the energy industry Innocent also has high-end digital consulting services for large customers. But its business focus is not on data governance.
At the macro level, data governance is the urgent need for digital transformation and data-based Taiwan construction for major customers in various industries. The market scale is large, providing a platform for the robust development of big data and AI industries.
Liu Chen, founder and CEO of Yujifang, has more than 10 years of experience in the IT industry, data governance and management, and has participated in data governance and management projects for large enterprises in the communications, finance, and energy industries. Planning and implementation. The core team also has many years of experience in the data governance arena.
The Yujifang is undergoing Pre-A round financing. This financing will be mainly used for product development, business improvement, market operation and sales system improvement. In December 2016, Yujifang received millions of seed round financing from D-LAB investment; in October 2018, it was invested by millions of angels invested by Enlighten Star.
“御数坊” is a shortlist for the financing partner to plan the competition. If you are an institutional investor and interested in the project, you can add WeChat “Coco@36Kr(day1_36Kr)” to The project party gets in touch.