Small busines owners are always curious about what day and when they will see highest sales in their respective trade areas, how their customers spend their money for different types of businesses, and what kind of advertisements they can use to attract potential customers to their stores. Although they can request an analysis to related organizations or financial companies, it is not easy for them to obtain detailed information that they desire.
Obzen (CEO Lee Hyeong-in), a South Korean company that specializes in digital marketing and analytics solutions, has collaborated with KB Kookmin Card and introduced a data analytics platform that can satisfy a variety of demands from small business owners. Just with few clicks, small business owners are able to obtain detailed information about their respective trade areas online.
◊Obzen launches Dataroot service
Obzen’s AI Research Institute began a Dataroot development project back in June last year and had gone through stages of analysis, design, development, and materialization for four months. Then, it had worked on final test for a month and launched a website for Dataroot. After stabilizing the platform for about two months since the launching of the website, it recently launched the main Dataroot service.
“We have been working with KB Kookmin Card for the past six months and we have established standard procedures for data collection, refinement, processing, and loading and focused on minimizing information in a unit of analysis ,” said the institute. “We have also reduced development and update periods and established a groundwork that provides detailed data in real time.
Dataroot’s main service is made up of analytics solution, advertisement service, and open lab. An individual can use most of these services as a free member.
◊Components of Dataroot
Dataroot’s analytics solution provides regular data analysis service for five topics that are trade area, region, theme, tourism and event, and franchise based on KB Kookmin Card’s credit card statements. In case of trade area analysis, the solution analyzes different trends in consumption that occur in a particular trade area based on industry and it can make evaluations or comparisons on the trade area itself. It can also analyze local consumption trends based on administration or market and understand the trend of a local economy towards various types of businesses. It suggests answers to those who are trying to figure out which type of business will be good for a particular trade area or if a certain type of business in a certain city has higher competitive edge than other cities. When a user writes “food delivery analysis” as a keyword for the theme analysis, the solution is able to make analyses on various situations. The solution can also be utilized as an index to set up local festivals or establish policies for vitalizing trade areas by analyzing characteristics of visitors’ consumption and their influence.
Dataroot also provides an advertisement service. Based on big data possessed by KB Kookmin Card, the service provides customized advertisements for small business owners so that they can use the advertisements for potential customers and it also provides analysis results from click to payment. In order to be more effective, it analyzes histories of customers’ past purchases and optimizes targetes and recommends customers to open advertisement pages through texts and app notifications.
The Dataroot service also provides an “open lab analysis space” that allows outsiders to make analyses utilizing inside data. Anyone can create a new business opportunity using an innovative idea based on KB Kookmin Card’s data. The Dataroot service also provides data contents that process credit card data and public data and insight reports that analyze and visualize the contents.
◊Obzen looks to develop the Dataroot service into a hyper-personalization service
“As we face the era of MyData, we plan to continue to expand the “Dataroot” service that connects different data and types of businesses.” said Lee Sang-wook who is the director of Obzen. “We plan to create a total open platform that combines My Payment features to MyData and introduce one of the best hyper-personalization services in the world.”
Director Lee also said that the company will look to maximize people’s level of satisfaction through the Dataroot service and he expected that the company and KB Kookmin Card will be able to secure a competitive edge in the data platform market related to MyData.
Staff Reporter Yun, Daewon | yun1972@etnews.com