I have a friend who works as a sales director at a well-known ERP solutions company. He's moved jobs quite often and isn’t particularly known for strong organizational loyalty. He’s neither an exceptional communicator nor overly detail-oriented. Yet, he has an impressive contract renewal rate, close to 100%, and a high success rate with new deals. His reputation in the industry is stellar.
According to him, his success comes from a customer diary he always carries. He calls this diary his "goldmine." It’s filled with 20 years' worth of business contacts and personal stories, all organized in a timeline. To him, it’s not just a network but a true goldmine.
For companies, there are always challenges like increasing sales, speeding up product development, and managing assets more efficiently. Data plays a crucial role in addressing these challenges and is key to achieving business goals and enhancing product value.
Companies analyze customer behavior to generate profits. From raw data to refined insights, the key to high-value industries is figuring out how to turn collected data into revenue.
Take Kurly, In the Korea, for example, which generated over 2 trillion KRW in sales last year while reducing operating losses by 38.5%. Through its "Kurly Partner Data Service," it provides partner companies with valuable data like inventory information, sales metrics, customer order patterns, and category rankings. This data helps partner companies in product planning and sales strategy, improving Kurly's profitability through data sales.
In the Korea, Another notable case is Naver, which launched the "Naver Guaranteed Delivery" solution. Naver integrates data from its fulfillment alliance partners, leveraging its shopping, buyer, and logistics data to help sellers with product planning and operations.
Rsquare has accumulated information on over 300,000 commercial properties domestically and internationally, which it has traditionally used for its leasing, sales, and investment advisory services. Recently, Rsquare announced plans to offer this data to external investors through its commercial real estate data platform, "Rsquare Analytics (R.A)." The company is also close to finalizing data supply contracts with major global asset managers and investment institutions.
Internationally, data monetization is thriving as well. Tesla's FSD (Full Self-Driving) technology has logged over 2 billion kilometers, far surpassing other car manufacturers. Tesla is considering selling its FSD data to other automakers for additional revenue. To support this, Tesla is expanding its supercomputing infrastructure to process autonomous driving data.
In the U.S., Snowflake, a data cloud company, provides a platform that helps businesses manage and analyze data effectively. This allows companies to make data-driven business decisions.
Companies that hold valuable customer and market data often find new business opportunities or receive attention from customers looking for improvements. Rather than establishing a new business from the beginning, it can be affordable and reliable to customers. This makes data monetization an attractive business model, especially during economic downturns.
Even though my friend has changed industries several times, he’s always stayed in the B2B sector. He once jokingly scolded me, saying, "Trying to get your hands on my 'goldmine' over a drink, huh?" after I asked to borrow his diary for just one day. I’m still new to the commercial real estate industry, having been here only three years, but I couldn’t help feeling a bit embarrassed.
Ji-Hyung Moon, Head of External Relations, Rsquare
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I have a friend who works as a sales director at a well-known ERP solutions company. He's moved jobs quite often and isn’t particularly known for strong organizational loyalty. He’s neither an exceptional communicator nor overly detail-oriented. Yet, he has an impressive contract renewal rate, close to 100%, and a high success rate with new deals. His reputation in the industry is stellar.
According to him, his success comes from a customer diary he always carries. He calls this diary his "goldmine." It’s filled with 20 years' worth of business contacts and personal stories, all organized in a timeline. To him, it’s not just a network but a true goldmine.
For companies, there are always challenges like increasing sales, speeding up product development, and managing assets more efficiently. Data plays a crucial role in addressing these challenges and is key to achieving business goals and enhancing product value.
Companies analyze customer behavior to generate profits. From raw data to refined insights, the key to high-value industries is figuring out how to turn collected data into revenue.
Take Kurly, In the Korea, for example, which generated over 2 trillion KRW in sales last year while reducing operating losses by 38.5%. Through its "Kurly Partner Data Service," it provides partner companies with valuable data like inventory information, sales metrics, customer order patterns, and category rankings. This data helps partner companies in product planning and sales strategy, improving Kurly's profitability through data sales.
In the Korea, Another notable case is Naver, which launched the "Naver Guaranteed Delivery" solution. Naver integrates data from its fulfillment alliance partners, leveraging its shopping, buyer, and logistics data to help sellers with product planning and operations.
Rsquare has accumulated information on over 300,000 commercial properties domestically and internationally, which it has traditionally used for its leasing, sales, and investment advisory services. Recently, Rsquare announced plans to offer this data to external investors through its commercial real estate data platform, "Rsquare Analytics (R.A)." The company is also close to finalizing data supply contracts with major global asset managers and investment institutions.
Internationally, data monetization is thriving as well. Tesla's FSD (Full Self-Driving) technology has logged over 2 billion kilometers, far surpassing other car manufacturers. Tesla is considering selling its FSD data to other automakers for additional revenue. To support this, Tesla is expanding its supercomputing infrastructure to process autonomous driving data.
In the U.S., Snowflake, a data cloud company, provides a platform that helps businesses manage and analyze data effectively. This allows companies to make data-driven business decisions.
Companies that hold valuable customer and market data often find new business opportunities or receive attention from customers looking for improvements. Rather than establishing a new business from the beginning, it can be affordable and reliable to customers. This makes data monetization an attractive business model, especially during economic downturns.
Even though my friend has changed industries several times, he’s always stayed in the B2B sector. He once jokingly scolded me, saying, "Trying to get your hands on my 'goldmine' over a drink, huh?" after I asked to borrow his diary for just one day. I’m still new to the commercial real estate industry, having been here only three years, but I couldn’t help feeling a bit embarrassed.
Ji-Hyung Moon, Head of External Relations, Rsquare