On the 3rd of December, Elsol Company (CEO Choi Joon-ho) announced that its own enterprise- affiliated institute has been certified by the government.
With this acquisition as momentum, Elsol Company (ELSOLCOM) has been working on developing marketing analysis technologies such as the intelligent marketing automation tool and data mining based decision support system in order to more systematically and scientifically manage its brand publishing business.
The Korean government operates an enterprise-affiliated institute certification program to promote the development of technologies at a national level under its following laws: the article 14-1 of the basic research promotion and technology development support act; and the article 16 of enforcement decree of the basic research promotion and technology development support act.
Small and medium-sized enterprises with this governmental certification receive different supports for research and development from the Korean government and are able to participate in government-led research and development businesses.
In current brand publishing business (BP), it is often difficult to estimate the exact cost of service, because it is hard to identify a distinct effect of certain performance and to figure out the exact cause and result. However, ELSOLCOM claims that a multi-dimensional data analysis technique is to settle the dispute between clients and BP enterprises through an objective target selection and evaluation in BP processes.
Furthermore, when using this data mining technique, it gets much easier to make long-term strategic marketing decisions and short term advertising media mixes. Especially in the times when public media consumption pattern rapidly changes as people are using their mobiles more.
Choi Joon-ho, CEO of ELSOLCOM, reveals the future plan of the company, “We are currently developing a data mining-based analysis tool and decision support system to precisely identify the correlation between input and output of media mix marketing. For example, TV is not a digital medium which makes it difficult for an online service provider to identify the exact cause and result of its TV advertisement. To solve these difficulties that most marketing executers are facing, together with our own institute, ELSOLCOM will establish the big data processing ‘data mart’ framework for effectively securing and evaluating value data.”