The surge of Big Data in the e-commerce industry has been acknowledged through a series of new developments in marketing and merchandising operations. It has certainly led to more organized data models, helping a variety of business owners in grasping customer requirements and thereby building better products. However, making the Big Data technology work needs insightful decision making and knowledge about the impact Big Data has on business improvement. This is where RecoBell, a Big Data firm that monetize data by using tech-enabled solutionscomes in.
RecoBell was started in 2013 with 3 business partners, which consisted of 2 Kaist Ph.D graduates, Dave Park, CEO, & Mike Hwang, CTO and also ex McKinsey consultant Kay Kim.The company utilizes Big Data analytics to provide data consulting, UX consulting and personalized strategic consulting. This Seoul based organization has created a robust and feature-rich platformto reach customers with personalized data that binds into their unique business models. Dave explains, “RecoBell’s primary services consist of highly personalized on-site recommendation and marketing systems. In addition, with the Jan. 2015 acquisition of Looket, the firm has added hybrid app curation and personalized push messaging services to the platform.” The on-site recommendation servicesRecoBell offers include, ‘recent interest’, ‘1:1 personalized’, ‘alternative/complementary goods’, ‘cart-based’, ‘search-based’, ‘regular purchase’, ‘product display optimization’ and ‘cross-channel sync.’
Today, mediums that empower organizations to come up with relevant and interesting products are required. This is why new digital marketing plans coupled with experimental strategies have become increasingly essential. Understanding these changing market trends, RecoBell introduced A/B testing to scientifically measure excess performance that separates the client’s server in half and compares the sales result of their recommendation services with the client’s original site’s services.
In Korea, the company was the first ever to apply A/B testing. With an objective to help clients reach a larger customer pool and increased revenues, the company performs A/B testing for getting deeper insights about customer behavior.
RecoBellfocuses on building a good infrastructure to expand datasets that have been collected, and further analyzes these datasets with its own distinct analytics. More importantly, they invest resources extensively toensure the security of work sensitive data. Understanding and adapting to client needs acts as the key differentiator for the company. In the highly competitive IT sector of Korea, RecoBell stands out with its combined approach of engineering and business.
In the highly competitive
IT sector of Korea,
RecoBell stands out with
its combined approach of
engineering and business
RecoBell is an IT venture firm that has personalized recommendation services for more than 10 million customers. The efficiency of these recommended services lies in its ability to attract customers that are currently using the site or app and also the potential customers. By optimizing customer engagement, it paves the way for increased PV, click thru rate, and maximizes profits. Recobell's goal is always to make more revenue for its clients, with increasing the conversion rate and their revenue per sale. Dave elaborates. “Our recommendation services help clients’ sites and apps become more effective in order to make visiting customers become loyal, returning customers.”
Within two years of its inception, the company has made it to the top recommendation service firms in South Korea. RecoBell is all set to leverage Big Data to transform organizations such as Adplus in Indonesia, Adyim in Thailand, and many more in Vietnam, Malaysia and Singapore. Going forward, the company will strive to take its recommendation services worldwide, expandin South Korea’s advertising market and become the Numero Uno organization in the entirety of Asia.