China Unicom and Telefonica have announced that they have established a joint venture called "Smart Steps Digital Technology Company Limited" to provide big data services in China, leveraging on China Unicorn's stable and extensive basic telecommunication network and rich market experience, as well as Telefonica's mature technology in big data services such as Smart Steps.
The new company, to be managed with a market-oriented mechanism, has a 55/45 ownership participation by China Unicom and Telefonica. The joint venture will use "Smart Steps" technology to provide location based insights and other big data related services, in the safe and efficient production environment of China Unicom.
"Smart Steps" uses anonymised, aggregated and extrapolated network data, through highly automated processing and deep denoising, provides valuable location and movement insights in a fast manner. Smart Steps is widely regarded as a world-leading service, and has a proven track record of success in markets across Europe and Latin America for some years. It has advantages such as accuracy of location, standardization of products as well as scale application of use cases. While ensuring the highest level of customer data security, the product provides enterprises and institutions with tailor-made state-of-the-art big data insights and related services, satisfying the strategic, operational and marketing needs of its customers.
It is expected that Smart Steps services can be applied extensively in China in areas such as transportation construction and operations, urban planning, tourism management, public security, financial risk control, real estate and retail analysis, business consultancy insights and macro statistics. Smart...