CJ Logistics Signs MOU with IGAWorks to Advance Logistics Big Data

Innovative technology company CJ Logistics is partnering with the largest mobile big data platform company in Korea to advance logistics big data.

CJ Logistics announced on the 16th that it signed a "Business Agreement for Establishing a Data Partnership" with big data platform company IGAWorks at CJ Logistics headquarters' Only One Hall located in Jongno-gu, Seoul.

IGAWorks, established in 2006, is Korea's largest data tech platform company. It has also been designated as a unicorn (a private company valued at over 1 trillion KRW) by the Ministry of SMEs and Startups. The company provides cloud-based services such as collecting and analyzing mobile app users' behavior data in a de-identified form.

Through this agreement, both companies plan to combine and enhance their big data to increase data value. They will also explore various ways to utilize the advanced data to strengthen their competitiveness and transform into innovative technology companies.

First, the two companies will combine CJ Logistics' parcel big data with external data such as consumer profiles held by IGAWorks. For example, they will increase data value by combining parcel data showing a 70% year-on-year increase in instant rice orders in a specific region with consumer profiles such as leisure-loving newlywed couples in their 30s living in the same area.

Using individual brand information owned by IGAWorks and a machine learning-based AI engine, they will also enhance the accuracy and classification system of logistics-based big data. The classification criteria for parcel invoice-based data will be subdivided from the existing 3 levels with about 200 categories to 4 levels with about 8,000 categories, simultaneously promoting data quality advancement and usability improvement.

Shin Young-su, Head of CJ Logistics' Parcel and E-commerce Division, said, "Digital transformation and big data utilization are emerging as the core of future logistics changes," adding, "We will actively adopt advanced technologies such as robots, artificial intelligence, and big data to lead the digital innovative growth of logistics."

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