This web app uses cookies to compile statistic information of our users visits. By continuing to browse the site you are agreeing to our use of cookies. If you wish you may change your preference or read about cookies

close

Why YITU Tech's Business Model is so successful?

Get all the answers


YITU Tech’s Company Overview


YITU Tech is a world-leading Artificial Intelligence (AI) company dedicated to providing advanced AI-based business solutions. Founded in 2012 and headquartered in Shanghai, China, YITU Tech has been pioneering in the field of machine vision, speech and language understanding, knowledge reasoning, and more. With a mission to build a safer, healthier, and more efficient world, YITU Tech leverages its cutting-edge technologies to serve various sectors including security, finance, transportation, healthcare, and retail. The company is recognized globally for its innovative solutions and has been the recipient of several awards in AI and machine vision. YITU Tech's business model is centered around offering AI solutions to businesses across different sectors. They create and develop advanced AI technologies and integrate them into practical applications that can help businesses improve their operations, enhance their services, and increase their efficiency. The company collaborates with its clients to understand their specific needs and customizes its solutions accordingly. This ensures that the solutions provided by YITU Tech are not just technologically advanced but also relevant and effective. The revenue model of YITU Tech is primarily based on the sales of their software solutions and services. They generate income by providing AI-powered solutions to businesses across various industries. The company's revenue streams also include earnings from customization and integration of their solutions according to the specific needs of their clients. Additionally, YITU Tech also gains revenue from providing technical support and maintenance services for their solutions. The company's continuous investment in R&D ensures that they stay ahead in the AI technology market, thus attracting more clients and generating a steady stream of revenue.

https://www.yitutech.com/en

Country: China

Foundations date: 2012

Type: Private

Sector: Technology

Categories: Data and Analytics


YITU Tech’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: design/aesthetics, provides access

Functional: integrates, connects, informs, reduces risk, quality


YITU Tech’s Related Competitors



YITU Tech’s Business Operations


Best in class services:

When a firm brings a product to market, it must first create a compelling product and then field a workforce capable of manufacturing it at a competitive price. Neither task is simple to perform effectively; much managerial effort and scholarly study have been dedicated to these issues. Nevertheless, providing a service involves another aspect: managing clients, who are consumers of the service and may also contribute to its creation.

Corporate innovation:

Innovation is the outcome of collaborative creativity in turning an idea into a feasible concept, accompanied by a collaborative effort to bring that concept to life as a product, service, or process improvement. The digital era has created an environment conducive to business model innovation since technology has transformed how businesses operate and provide services to consumers.

Data as a Service (DaaS):

Data as a Service (DaaS) is a relative of Software as a Service in computing (SaaS). As with other members of the as a service (aaS) family, DaaS is based on the idea that the product (in this instance, data) may be delivered to the user on-demand independent of the provider's geographic or organizational isolation from the customer. Additionally, with the advent[when?] of service-oriented architecture (SOA), the platform on which the data sits has become unimportant. This progression paved the way for the relatively recent new idea of DaaS to arise.

Data warehouses:

A data warehouse (DW or DWH), sometimes referred to as an enterprise data warehouse (EDW), is a computer term that refers to a system used for reporting and data analysis. It is a critical component of business intelligence. DWs are the centralized repository for data that has been integrated from one or more separate sources. They keep track of both data and information and generate analytical reports for skilled professionals throughout the business.

Digital transformation:

Digitalization is the systematic and accelerated transformation of company operations, processes, skills, and models to fully exploit the changes and possibilities brought about by digital technology and its effect on society. Digital transformation is a journey with many interconnected intermediate objectives, with the ultimate aim of continuous enhancement of processes, divisions, and the business ecosystem in a hyperconnected age. Therefore, establishing the appropriate bridges for the trip is critical to success.

Digitization:

This pattern is based on the capacity to convert current goods or services into digital versions, which have several benefits over intangible products, including increased accessibility and speed of distribution. In an ideal world, the digitalization of a product or service would occur without compromising the consumer value proposition. In other words, efficiency and multiplication achieved via digitalization do not detract from the consumer's perceived value. Being digitally sustainable encompasses all aspects of sustaining the institutional framework for developing and maintaining digital objects and resources and ensuring their long-term survival.

Knowledge and time:

It performs qualitative and quantitative analysis to determine the effectiveness of management choices in the public and private sectors. Widely regarded as the world's most renowned management consulting firm. Descriptive knowledge, also called declarative knowledge or propositional knowledge, is a subset of information represented in declarative sentences or indicative propositions by definition. This differentiates specific knowledge from what is usually referred to as know-how or procedural knowledge, as well as knowledge of or acquaintance knowledge.

Licensing:

A formal agreement in which the owner of the copyright, know-how, patent, service mark, trademark, or other intellectual property grants a licensee the right to use, manufacture, and sell copies of the original. These agreements often restrict the licensee's scope or area of operation, define whether the license is exclusive or non-exclusive, and stipulate whether the licensee will pay royalties or another kind of compensation in return. While licensing agreements are often used to commercialize the technology, franchisees also utilize them to encourage the sale of products and services.

Software as a Service (SaaS):

Software as a Service (SaaS) is a paradigm for licensing and delivering subscription-based and centrally hosted software. Occasionally, the term on-demand software is used. SaaS is usually accessible through a web browser via a thin client. SaaS has established itself as the de facto delivery mechanism for a large number of commercial apps. SaaS has been integrated into virtually every major enterprise Software company's strategy.

Solution provider:

A solution provider consolidates all goods and services in a particular domain into a single point of contact. As a result, the client is supplied with a unique know-how to improve efficiency and performance. As a Solution Provider, a business may avoid revenue loss by broadening the scope of the service it offers, which adds value to the product. Additionally, close client interaction enables a better understanding of the customer's habits and requirements, enhancing goods and services.

Technology trends:

New technologies that are now being created or produced in the next five to ten years will significantly change the economic and social landscape. These include but are not limited to information technology, wireless data transmission, human-machine connection, on-demand printing, biotechnology, and sophisticated robotics.

Embed code:

x
Copy the code below and embed it in yours to show this business model canvas in your website.