SK Stoa upgrade digital analysis program for electronic and home shopping

Lim Chang-won Reporter() | Posted : November 19, 2020, 09:57 | Updated : November 19, 2020, 09:57

[Courtesy of SK Stoa]

SEOUL -- SK Stoa, an electronic shopping company in South Korea, is ready to unveil an upgraded digital analysis program that enables artificial intelligence-based automation and cloud broadcasting as a COVID-19 pandemic makes data-based decisions more important in electronic and home shopping.

As a T-commerce operator, SK Store, owned by South Korea's leading mobile carrier SK Telecom, sets a distinction between one-way TV home shopping and Internet shopping. Although live broadcasting is impossible, it allows users to pay with a remote control after watching video on demand (VOD), a media distribution system that allows users to access videos without a traditional video playback device.

T-commerce is a term describing trade via a digital TV which acts as a marketing channel enabling bidirectional communication enabling interactive advertising and addressable advertising. "Digital transformation is also taking place on TV," SK Stoa CEO Yoon Seok-am said. "Based on data, activities such as recommendation, personalized curation and target marketing can be performed."

In March 2019, SK Stoa released the first version of On Vision, a digital analysis program that quantifies and utilizes the relationship between directing and sales, programming and products, and viewing and external factors. It uses data to find answers such as how to make good results and why products sold well. The company aims to release the second version for personalized TV services in 2021. The third version would be released later to enable AI-based automation and cloud broadcasting.

"I think COVID-19 has made data-based decisions more important," Yoon said. "We will use On Vision's data analysis as a management compass and quickly respond to the rapidly changing media environment and consumption trends to create our own growth story," he said, adding TV data platforms would provide "an important opportunity to properly recognize the market value of home shopping."

On Vision utilized the advantages of bidirectional data broadcasting by analyzing the number of real-time views per minute, viewing time per household, and the conversion rate of purchases compared to the number of viewers. It combines viewing data with call and order data to deduce the correlation between directing, viewing and performance as an objective indicator.
© Aju Business Daily & www.ajunews.com Copyright: All materials on this site may not be reproduced, distributed, transmitted, displayed, published or broadcast without the authorization from the Aju News Corporation.