Lotte Home Shopping Opens Big Data System for Small and Medium Partners

[Asia Economy Reporter Seungjin Lee] Lotte Homeshopping opened a partner-exclusive big data system on the 11th that allows partner companies to view analysis data such as product sales status, purchasing customer patterns, and consumption trends, and utilize this data for product development and operations.

While companies recently have been using big data for decision-making and service advancement to quickly respond to changes in the business environment, small and medium-sized enterprises face difficulties in utilizing it due to costs and manpower issues. In response, Lotte Homeshopping planned the partner-exclusive big data system since March last year by listening to partner companies' opinions. It provides access to analysis reports covering overall sales activities. It is expected to help reduce trial and error through data-driven product planning, sell products efficiently, and strengthen the competitiveness of partner companies.

This system is a data-based analysis service by Lotte Homeshopping that analyzes and segments various data such as partner companies' sales status, reasons for cancellations and returns, and product purchase routes. Based on recent performance, it provides the proportion of orders by media such as TV and mobile, pre-order ratios, top-selling products, and the status and characteristics of key customers. Additionally, it offers sales status analysis data by broadcast date linked with cancellation/return reasons and weather analysis data. The service will be continuously enhanced by analyzing data from various perspectives.

Kim Chung-kyung, head of Lotte Homeshopping's Big Data Team, said, "We are in an era where providing services closest to customer needs using big data is evaluated as a competitive advantage," adding, "We will strive to promote mutual growth by ensuring that the competitiveness of partner companies contributes to customer satisfaction and the development of our company."

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