Since David Ricardo introduced the concept of comparative advantage, trade has been positioned as an essential pillar to support the world economy. Up until recently, I believed the competitiveness of a company or a country over others can be compensated by quantitative and qualitative prosperity. That was because I tried to find the market leader […]
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Positive Mindset
Many experts warn us cynicism and pessimism are very dangerous to our mental health and social relationship. And most of us don’t feel they are narcissistic. Rather, we tend to think that we are very optimistic and open-minded. Nonetheless, we often unconsciously start talking with negative words. A few days ago, I wanted to check […]
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Il Principe(The Prince)
Leadership has been one of the most important issues to me since I got promoted to manager. There are many books talking about how to lead people and how to perform with them. However, it’s not easy to apply those golden rules to my situation. Sometimes I get great lessons from my team members while […]
I have been operating the startup accelerator program in Vietnam since last year. The main objective of the program is to help young entrepreneurs to realize their dream and to conclusively contribute to the startup ecosystem. Surely, there are incidental benefits such as enhancement of the corporate brand image and relationship with local partners. My […]
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Prediction Machines
Everyone wants to know the future since no one won’t be caught off guard by the uncertain events. In Korea, internet users call the post or blog “Holy Place” when the prediction written a long time ago is realized. Those predictions are buried among other general posts without catching attention from others when they are released. Because those […]
O2O is becoming a common terminology to the public. Especially, young people use diverse on-demand apps to order food and call a taxi. Mega players in this industry are trying to raise funds for aggressive marketing and daily operation as competition is becoming more fierce with new players entering the market. Most O2O startups are […]
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What Matters in E-commerce
Next growth for e-commerce According to a recent news article, EU Commission is investigating antitrust issues in e-commerce. Everyone knows that by and large online shopping is replacing legacy shopping channels and some of the global players are dominant in this sector with their prowess. With this perspective in your mind, what is important is […]
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Maximum-likelihood Estimation in R
If you are a marketer of a sports team and your mission is to boost the sales of annual membership for home games, what do you do first? You may want to know about which factors you should focus on to encourage customers to renew their annual membership. Actually, you need to wonder what is […]
Let’s say, there is a chunk of survey data, which consists of more than fifty questions. Even the number of total respondents reaches 60,000. Maybe it will take you a lot of time to analyze them according to your original intention or analysis objectives. Most people try to classify data or divide them into pieces […]
When you try to focus on the target segments with a high response rate, RFM is one of the most useful methods. Most of all, RFM is intuitive and easy to get results in a way that it is a kind of heuristic analytics, which is different from a regression model. RFM is an acronym […]