KCD Supplies Nationwide Small Business Card Sales Data to Gyeonggi Regional Economic Portal

Small Business Status Can Be Understood from Multiple Perspectives

[Asia Economy Reporter Minwoo Lee] Through Korea Credit Data (KCD), it will be possible to check nationwide small business card sales trend data on the Gyeonggi Regional Economy Portal.

On the 7th, KCD announced that it has newly supplied three types of data, including small business card sales trend data, to the Gyeonggi Regional Economy Portal.

The newly supplied data includes ▲ monthly card sales increase/decrease data compared to before COVID-19 ▲ weekly average card sales trend data of small businesses ▲ monthly average payment unit price data of small businesses. By utilizing these data, both quantitative and qualitative changes in small business sales after the COVID-19 pandemic can be understood. This brings the total number of data types supplied to 17, adding to the existing 14 types.

The small business data supplied by KCD to the Gyeonggi Regional Economy Portal is mainly composed of data analyzing small business sales by payment method, region, and industry. For the monthly average small business card sales amount, analysis is possible by region and industry, and it is also possible to check the proportion of card sales by time of day. Monthly average sales amounts from delivery apps/cash receipts can also be analyzed by region and industry.

This data was created by analyzing transaction information collected from approximately 1.3 million business sites nationwide. All data has been anonymized through statistical processing, and anyone using the Gyeonggi Regional Economy Portal can access it. It can be used as basic data for establishing regional economic policies or for product and service development.

Kang Yewon, Head of Data Strategy at KCD, said, "KCD data has the advantage of allowing a multifaceted view of the status of small businesses by analyzing payment information such as card, delivery app, and cash receipt transactions occurring at business sites in near real-time." She added, "If policy makers and company officials can make decisions based on accurate data, it will become easier for small businesses to operate, which will also help revitalize the regional economy. That is why we participated in this project."