Samsung Card Holds Untact Award Ceremony for the '1st Samsung Card Data Analysis Contest'

Contest Held from August to November
9 Teams Selected out of 245
Prize Money and Awards Worth 20 Million KRW Presented

Samsung Card announced that on the 29th, it held the awards ceremony for the "1st Samsung Card Data Analysis Contest" untact at the Samsung Headquarters Building in Jung-gu, Seoul. Kang Byung-joo, Executive Director of Samsung Card (right), and Ahn Ki-hong, Executive Director (left), are taking a commemorative photo untact with the contest winners.

[Asia Economy Reporter Ki Ha-young] Samsung Card announced on the 30th that it held the award ceremony for the '1st Samsung Card Data Analysis Contest' in an untact (contactless) manner.

At the award ceremony held the previous day at the Samsung Headquarters Building in Jung-gu, Seoul, a total prize money and plaques worth 20 million KRW were awarded to the final nine winning teams.

This contest was implemented to provide domestic and international undergraduate and graduate students with opportunities to analyze card company data, which is usually difficult to access, to expand the base of data analysis and to discover creative ideas.

A total of 245 participating teams submitted their results on the selected topics of 'Development of an Online Merchant Visit Customer Prediction Algorithm' or 'Marketing Strategies to Overcome the Pandemic Era' based on sample and processed data provided by Samsung Card from August to November. Samsung Card conducted first and second round evaluations and a final presentation judging based on criteria such as ▲data utilization ability ▲appropriateness and scalability of algorithm models ▲business feasibility ▲logical consistency ▲originality.

Team YBIGTA, which won first place in the Online Merchant Visit Customer Prediction Algorithm category, built their model using an approach that combines probability values from multiple tree-based algorithms (XGBoost, LightGBM). Using this model is expected to improve the prediction performance of merchant visit customers and can be effectively used for data-driven marketing. The team also received high praise from the judges for their differentiated model tuning techniques and technical responses.

The Homo Marketers team, which won first place in the Marketing Strategies to Overcome the Pandemic Era category, proposed untact-specialized products, marketing for the Opal generation (economically empowered people in their 50s and 60s), and activation plans for app cards under the theme 'Post-COVID, Marketing Strategies Leading New Consumption.' The team received high scores for logical consistency, including analysis of key phenomena derived from data and appropriate use of external data.

A Samsung Card official said, "Through this data analysis contest, we were able to discover various ideas and business possibilities, and we are reviewing ways to utilize some of the excellent content in actual business after some supplementation," adding, "We plan to continue holding contests to expand the base of data analysis in the future."

This content was produced with the assistance of AI translation services.