What is Entrepreneurship? It is the spirit of challenge that turns the imagination and dreams of entrepreneurs into customer experiences.
The tool of entrepreneurship is innovation.
Action is 빨리 빨리(pali pali). It should be proactive.
Class Goal: Entrepreneurial Attitude, AI Data Analysis: Challenging Data Engineers, Data Scientists, and Data Analysts.
-The biggest problem in the market is mismatch. The best technique to solve mismatch is AI. AI has a customer recommendation function.
I.Insights from comment analysis
1. Meaning of comment analysis: What should our company innovate today?
-The trace of customer experience is comments/reviews. Sentiment analysis is text mining on comments.
- Sentiment analysis is an opportunity for customer experience innovation to improve negative aspects.
2. Utilization of comment analysis: You can gain insight into the new direction of innovation to solve customer complaints.
- Comment analysis answers innovation in customer experience.
3. Insights from comment analysis
-Issue 1. What is the customer experience and Sentiment score(the degree to which the customer empathizes with our product) of our service?
What is the average Sentiment score of comments with + and - expressions?
For example, if the Sentiment score is + 0.158), the customer empathy index of Company A is + 0.158.
-Issue 2: What is the goal of your company's empathy score for customer experience?
- Issue 3: Trend analysis
Is our empathy score up or down compared to the past?
-Issue 4: What countermeasures and innovations are needed?
The more frequent and quicker innovation-driven improvements occur every day, the better the customer experience score will be.
1. Marketing success depends on the traces of customer experience.
- - Customers often read comments and make purchase decisions.
- If you analyze the comments of a company every day, you can see what the company needs to fix every day.
- This is customer experience innovation.
Amazon has thus become the world's leading marketing company.
Amazon has strengthened the elements that customers like in the comment analysis.
And elements that customers were dissatisfied with were quickly fixed. fixed every day
2., Comment analysis practice: We also want to launch a product and analyze comments.
Stage 1: K cosmetics launch stage
Step 2. Collect comments for K cosmetics
Step 3: Sentiment Analysis of K Cosmetics Comments
Step 4: Find the implications of product improvement and marketing improvement for K cosmetics
- Reviews are the trace of customer experience.
- Try K-cosmetics and write reviews about your experience.
-This questionnaire was prepared to analyze the emotions of customers' experiences with K cosmetics.
Survey: https://forms.gle/LNBU5rsHugMffXg19
*Please post your comments on K-cosmetics. Leave your review on experience.
1. Can you code?Can you program?
You can do artificial intelligence data analysis without learning difficult coding.
2.You don't need to learn Python. Orange program is User Interface program. You just need to take the widget you need and connect it.
Widgets are already packaged in Python by experts.
3. Something like the SPSS of statistics.
Making kimchi with raw materials takes a lot of time and has no taste.
Each ingredient is prepared by experts, and we can combine it and eat it.
This is the User Interface.
If you code directly in Python, it will take a lot of time.
4. There is an easy way for people from the humanities major who have never learned computer programs to learn artificial intelligence. That's 'Orange' (Orange Data Mining)
5. This program was developed at the University of Ljubljana, Slovenia.
Orange can do AI data analysis without coding
No need to learn difficult coding. Orange 3 is a program that can perform machine learning and data analysis with a user interface.
6. Plus, it's free. If it had been developed in the United States, it would have been an incredibly expensive program.
In addition, developers all over the world are voluntarily updating it.
7. So this program is very good. Orange developers deserve the Nobel Prize.
Download program for AI analysis; orange 3: https://orangedatamining.com/download/#windows
Post-class question survey: https://forms.gle/fooYNydoG6SFwdff6
=f(More traffic: Visitors, Higher CVR: Purchase Action Rate: New purchase rate, More retention: Re-purchase Action Rate: Repurchase rate)
What is a good platform?‘Some people may never use it, but no one uses it only once’
1. More traffic: The better the customer experience, the more people come.
-The more people visit, the more traffic.
-Amazon flywheel model
2. (Purchase Action Rate)Higher CVR(Conversion Rate: Purchase Conversion Rate: New Purchase Rate)
-Conversion Rates are the rate at which you view a product on the platform and click to buy that product.
- Customers decide whether to purchase by reading comments that are traces of other people's experiences.
-So comment analysis is important.
-The method of comment analysis is AI sentiment analysis.
When making a purchase, consumers monitor the sentiment of other people's purchasing experiences.
-So, sentiment analysis is necessary to increase the conversion rate.
- By analyzing customer's sentiments, it is possible to find dissatisfaction and satisfaction factors.
-The more positive the sentiment analysis value, the higher the purchase conversion rate.
3.(Re-purchase Action Rate) More retention: Net dollar retention rate: This is the sales growth rate of existing customers.
- The higher the repurchase rate of existing customers, the higher the sales.
-If on-demand service is possible with AI customer recommendation analysis, existing customers will purchase more products.
- This is because whenever a specific customer visits a purchasing platform, the platform recommends purchasing a product with a high probability of purchasing the customer.
-AI's Cart Analysis enables the platform to provide customer recommendation services.
Example: Customer recommendation function?: AI analysis can predict which customer will take a taxi when, where, and in what form. This is an on demand service.
--The Serious Problem of the Traditional Market: Mismatch
Entrepreneurs are people who transform imagination into customer experience.
- There is a serious mismatch in the traditional taxi market. The time a taxi driver wants to drive is different from the time a customer wants to take a taxi.
-So there are no taxis during commuting hours, and no customers at other times.
- Because this is on supply service.
-So, Kakao Mobile Taxi Company, which provides on demand service, has emerged.
-Kakao Taxi is an on demand service that provides services in the form (cheaper car, bigger car, luxury car) that customers want, at the time they want, at the place they want.
- So, the waiting time for Kakao Taxi to wait for customers is short. And the matching success rate is high.
- So, the enterprise value of Kakao Taxi is 100 times higher than the enterprise value of an on-supply service taxi company. This is innovation.
Entrepreneurs are people who transform imagination into customer experience.
Entrepreneurs are people who transform imagination into customer experience.
- There is a serious mismatch in the traditional taxi market. The time a taxi driver wants to drive is different from the time a customer wants to take a taxi.
-So there are no taxis during commuting hours, and no customers at other times.
- Because this is on supply service.
-So, Kakao Mobile Taxi Company, which provides on demand service, has emerged.
-Kakao Taxi is an on demand service that provides services in the form (cheaper car, bigger car, luxury car) that customers want, at the time they want, at the place they want.
- So, the waiting time for Kakao Taxi to wait for customers is short. And the matching success rate is high.
- So, the enterprise value of Kakao Taxi is 100 times higher than the enterprise value of an on-supply service taxi company. This is innovation.
Entrepreneurs are people who transform imagination into customer experience.
This questionnaire was prepared to analyze the emotions of customers' experiences with K cosmetics.
- Have you used K cosmetics within the last 6 months?
- What brands have you tried?
- Write a review about your experience of using K cosmetics. Please write comments with negative or positive words.
- Would you highly recommend this cosmetic to your friends and colleagues?
Reviews are the trace of customer experience.
- Try K-cosmetics and write reviews about your experience .
- This questionnaire was prepared to analyze the emotions of customers' experiences with K cosmetics.
- Please post your comments on experience of using K cosmetics. Please leave your review on experience with negative or positive comments: https://forms.gle/LNBU5rsHugMffXg19
Post-class question survey: https://forms.gle/fooYNydoG6SFwdff6
Case 1. Can you predict which employees will leave your company within 6 months?
There are rumors that some of our employees will be leaving the company.
Who will be promoted?
Case 2. Can you predict the probability that your customers will purchase a specific item from the products you are selling (Amazon’s customer recommendation with AI)
Who will buy our products.
AI Data Analysis: Practice with Orange 3.
Practice with your own computer.
Submit your practice results as a report.
Post-class question survey: https://forms.gle/fooYNydoG6SFwdff6
Building Class Project Team(5 persons)
- The team's mission: Collect and analyze comments on K Brands sold in Indonesia.
- Select a K-Brand that the team is interested in.
Types of K-Brands: K-cosmetics, K-pop singers, K-cars...
Collecting comments on the product: using social media.
- Data collection: data collection on topics that students are interested in (SNS).
- Or collect your own way using Google Forms.
- Example: https://forms.gle/LNBU5rsHugMffXg19
AI data analysis
- The trace of customer experience is review.
- AI Analysis of comments using Orange 3.
- Data Analysis--Sentiment Analysis
- Practice and discussion
Implications of data Analyst : Analysis is a perspective, not a technique.
Post-class question survey: https://forms.gle/fooYNydoG6SFwdff6
Continuing the 4 week class project.
- Group presentation and discussion
- Resolution of difficulties in progress
Considering the inconvenience of one person is kindness, and considering the inconvenience of many people is business. (Jack Ma)
Application area of Association Analysis: Useful for product recommendation to customers.
- Cart Analysis is an analysis method that predicts customer choices by finding correlations among various data. If association rules are found, customer recommendations are possible.
- You can recommend the product to customers who are highly likely to purchase it by saying, 'Do you need this product now?'
-Example: Association rules: People who buy chicken tend to buy beer.
- What's the probability?
Data collection for cart analysis. https://forms.gle/iCRz7tCLvmw2osmU8
- This questionnaire was created for Association Analysis and AI customer recommendation analysis.
- Please write down all the types of cosmetics you have purchased in the last 6 months (Items in your shopping cart).
Main analysis contents: 'Do you need this product now?'
- What is the probability that a customer who chooses product A will choose product B?
- What are anchor products in cosmetics?
- What products do customers usually choose together?
- You want to promote product B. What kind of product would you recommend to purchasers of product B?
-You can recommend the product to customers who are highly likely to purchase it by saying.
Case Study: Amazon’s Customer Choice Predictive Power
- We provide strong discount coupons along with product recommendations by analyzing customers' past product purchase information.
- Through this recommendation system, Amazon earns 35% of its sales.
- Amazon invests 10% of its annual sales in big data recommendation systems to maintain platform competitiveness.
Exploring market potential through customer experience innovation
- Presentation and business model discussion.
- Actual commercialization progress.
- Evaluation and discussion.
Exploring market potential through customer experience innovation
- Presentation and business model discussion
- Actual commercialization progress
- Evaluation and discussion
Exploring market potential through customer experience innovation
- Presentation and business model discussion
- Actual commercialization progress
- Evaluation and discussion
Exploring market potential through customer experience innovation
- Presentation and business model discussion
- Actual commercialization progress
- Evaluation and discussion
Exploring market potential through customer experience innovation
- Presentation and business model discussion
- Actual commercialization progress
- Evaluation and discussion
Exploring market potential through customer experience innovation
- Presentation and business model discussion
- Actual commercialization progress
- Evaluation and discussion
Exploring market potential through customer experience innovation
- Presentation and business model discussion
- Actual commercialization progress
- Evaluation and discussion
Professor Kim envisions a world where SMEs and established companies work in partnership.
© Ki-Chan Kim
Seoul | Washington, D.C. | Jakarta