The unique feature of Alibaba was creating an ecosystem, a network of diverse firms and clients connecting with the ecosystem, consisting of an online system and more substantial offline physical components. Their main strategic objective was to provide the network with all the assets accessible to them—that an online business would need to succeed in order to assist the ecosystem's growth. The company adheres to an approach known as smart business, which is the future's preeminent business logic. Therefore, analyzing the various aspects of data utilization is crucial in determining how Alibaba and ANT Financials optimize data through the use of a smart business model by collecting data, replicating data using software, coordinating data for data flow, and further optimizing its use through the governance of a leader or administrator.

ANT Financials and Alibaba both employ a smart business, tech-enabled model. As a result, the majority of operational choices are now made by machines, giving enterprises a huge competitive edge over more established organizations by enabling them to adjust quickly and flexibly to evolving market conditions and consumer attitudes (Campbell, 2018). Machine learning requires large amounts of computational power and digital information. The analytical engine's yield improves with more data and over more iterations. , the smart business system depicts four fundamental phases to using data successfully. Starting with "datafying" every customer encounter, which will form the foundation of pattern recognition, a transformative process begins. The acquired and looped data is then reproduced using the software so that data may be gathered organically as part of the business cycle (Campbell, 2018). Business choices require intricate ecosystem synchronization with many interrelated stakeholders to get data flowing. As a result, techniques and approaches should be developed to explicitly state the underlying product structure being optimized once business processes come online. To keep the mechanisms in place operating properly, leaders are also essential (Campbell, 2018). This is accomplished by network leaders motivating their team members, including their associates. They specify the company's goals and establish an atmosphere where employees can swiftly put together experimental goods and services, evaluate the audience, and grow the concepts that receive favorable feedback (Campbell, 2018). Leaders no longer manage; instead, they encourage employee innovation and support the fundamental feedback loop between user performance and business choices and actions. Therefore, a tech-enabled model is crucial in the proper running of ANT and Alibaba.

Analyzing the various aspects of data utilization is crucial in determining how Alibaba and ANT Financials optimize data through the use of a smart business model by collecting data, replicating data using software, coordinating data for data flow, and further optimizing its use through the governance of a leader or administrator. Creating a foundation of pattern recognition is crucial in the transformative process. This will give way for reproduction of acquired data where approaches may be developed and integrated. Additionally, coordination by a leader is key in the proper implementation of the smart business model. Thus, Alibaba and ANT Financial used various transformative processes to transform themselves into a Smart business.

References

Campbell, H. (2018, August 21). Everything Alibaba does differently — and better. Retrieved from https://hbr.org/2018/09/alibaba-and-the-future-of-business