KCCI Announces New Business Development Using 'Product DB' Distribution Data

Sangui Holds 'Distribution Data Utilization Seminar' for Establishing Data-Driven Management Strategies

"We aim to conveniently support service customers in managing their blood sugar levels by utilizing the database (DB) of food and beverage products distributed domestically." - Jeongwook Wi, Director at Kakao Healthcare

"The more detailed product information is shared with customers at offline stores, the more positive customer experiences increase, resulting in higher satisfaction for both sellers and customers." - Jihyeop Hong, Manager at Trial Korea

The Korea Chamber of Commerce and Industry (KCCI) announced on the 9th that it held a 'Seminar on Utilization of Distribution Data' at the Chamber of Commerce building in Jung-gu, Seoul, to support digital transformation in the distribution sector and the establishment of data-driven management strategies. About 300 participants from various industries including retail and wholesale distribution, finance, manufacturing, and IT attended the event to discuss support projects and utilization methods for distribution data.

The seminar featured lectures revealing data experts' analysis know-how and actual cases showing how data is utilized in new industries. Although interest in distribution data is gradually increasing not only in the distribution industry but also in manufacturing, finance, and IT sectors, access to distribution data is not easy, and there is a lack of systematic accumulation methods and sharing of utilization cases.

Capture of the main screen of the Korea Chamber of Commerce and Industry's 'Distribution Data Service Platform' website [Image source=Korea Chamber of Commerce and Industry]

At the seminar, KCCI introduced the 'Distribution Data Service Platform.' This website supports businesses by collecting and building standardized data on product information sold in the distribution market based on the distribution standard code (880 barcode). It introduces ways for small and medium manufacturers and distributors to easily and quickly utilize product information and wholesale and retail transaction data. The Distribution Data Service Platform improves accessibility by allowing users to view various data such as product and sales information in one place. KCCI explained that the platform has excellent data management and quality by linking product information and sales data based on international standard barcodes.

The response from the distribution industry has been positive because it allows easy access to product information, monthly online and offline popular product lists, small and medium store sales analysis, and product assortment recommendations. Last month on the 8th, KCCI signed an agreement with NongHyup Bank. They agreed to provide some sales information of Hanaro Mart, an NH Members member, in a non-identifiable form and to further expand the data provided.

Yoseop Hong, Center Director at the Korea Electronics and Telecommunications Industry Promotion Association, emphasized the importance of standard data, stating, "For the digital transformation of logistics centers such as Pohang and about 1,000 related retail stores, we are efficiently establishing a data system using KCCI’s product standard DB." Jonggeun Kim, Executive Director at Market Link, said, "Data-driven decision-making is accelerating and information is becoming more personalized, expanding the scope of data analysis. Although various information is being combined, it is not easy for small and medium distribution companies to keep up with these changes." He added, "Policy support is urgently needed to enable small and medium distribution sectors to receive systematic distribution data to secure competitiveness."

In the latter part of the seminar, actual cases of data utilization were mainly introduced. Chunnam Park, Executive Director at Nielsen IQ, presented real analysis cases on how to utilize various distribution data according to business issues and said, "Utilization and analysis of data in the field are essential for establishing sales strategies."

Geunmu Jang, Director of the KCCI Distribution and Logistics Promotion Institute, said, "Everyone agrees on the importance of distribution data, but it is realistically difficult for small and medium enterprises and startups to utilize it in management practice. To support digital transformation in the distribution sector, we will strengthen the foundation for distribution data utilization by accumulating product DB based on global standards and promoting linkage with sales data."