Enhanced for intuitiveness and readability to be easily accessible to any citizen interested in commercial districts and startups
Providing trending commercial district information based on big data analysis of store count, sales, and floating population changes
[Asia Economy Reporter Lim Cheol-young] On the 25th, the Seoul Metropolitan Government and the Seoul Credit Guarantee Foundation announced that they have extensively revamped the ‘Seoul Our Neighborhood Store Commercial Area Analysis Service’ to provide anyone preparing to start a business or existing small business owners with easy access to accurate and useful big data-based commercial area information.
The ‘Seoul Our Neighborhood Store Commercial Area Analysis Service’ is a website that analyzes 45 types of small business-related big data to provide various management information such as survival rates, average sales, and rental prices by district and commercial area free of charge. It was developed by the Seoul Metropolitan Government in 2016 and has been operated by the Seoul Credit Guarantee Foundation since 2017 under consignment.
The recent enhancement project of the ‘Our Neighborhood Store Commercial Area Analysis Service’ focused on significantly improving accessibility for small business owners or citizens interested in commercial areas and startups. The user interface (UI) was improved, usage procedures were greatly simplified, and intuitive names such as ‘Rising Commercial Area,’ ‘I am the Boss,’ and ‘Soon to be the Boss’ were used. The readability of analysis reports was enhanced so that anyone can easily use the service.
First, to provide more accurate commercial area information, the criteria for the commercial area analysis zones were changed. Previously, commercial area analysis zones were distinguished by drawing concentric circles based on straight-line distances (e.g., a radius of 300m). Now, zones are defined by the area reachable on foot within a certain time, reflecting the characteristics of commercial areas formed along actual alleyways.
For citizens dreaming of starting a business, the new ‘Soon to be the Boss’ service recommends promising industries and regions, and provides detailed commercial area analysis reports containing information such as the number of stores in the same industry, sales, and floating population centered around the planned startup location. It offers a search function for trending industries to prospective entrepreneurs who have not yet chosen a business type, and for those planning to start a business, it creates customized reports based on the selected location, industry, and analysis area of the planned store.
A new ‘Rising Commercial Area’ feature was also introduced, which integrates various big data to visually display recently emerging commercial areas on a map at a glance. When users query ‘Rising Commercial Area’ based on conditions such as the number of stores, sales, and floating population changes, the system visualizes promising commercial areas by type?such as administrative neighborhoods (haengjeong-dong), developed commercial areas, alley commercial areas, and traditional commercial areas?on the map using relevant big data. Additionally, clicking on a rising neighborhood or promising commercial area provides an easy-to-understand report with various graphs and tables analyzing the industry, sales, population, and hinterland of the area in detail.
Analysis for small business owners currently operating stores is also provided. Through the ‘I am the Boss’ feature, detailed analysis is offered focusing on the stores operated by small business owners, including the number of nearby stores in the same industry, sales changes, floating population changes, and hinterland. The ‘Self-Diagnosis’ function allows small business owners to input their store’s sales, rent, number of employees, and business hours, and then provides results comparing the applicant’s business status with similar businesses in the surrounding area and throughout Seoul, enabling them to self-assess their business condition.
Joo Cheol-soo, Chairman of the Seoul Credit Guarantee Foundation, said, “As a specialized institution supporting small business owners, it is necessary to provide citizens with practically helpful information by utilizing the accumulated big data and know-how of small business owners.” He added, “We hope that the commercial area information provided by the Our Neighborhood Store Commercial Area Analysis Service will assist prospective entrepreneurs in making rational decisions and contribute to enhancing the competitiveness of small business owners who have suffered severe difficulties due to the COVID-19 pandemic.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
