2021-10-12
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Jejusori
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Choi Yoon-jeong

If you incorporate IT into finance... How to use 'big data' smartly

[2021 JDC AI University Academy] Jaejun Park, CEO of Antock, “Big Data, the Key is ‘Individual Data Analysis’”

The 2021 JDC AI University Academy, hosted by the Jeju Free International City Development Center (JDC) and co-organized by Jeju's Voice and Jeju University, held its fourth lecture of the second semester on the 12th, broadcast online in a non-face-to-face format.

Jaejoon Park, CEO of Antock Co.,Ltd, a company that provides automatic financial and corporate data analysis services, took the stage with the theme "Dreaming of Asia's Bloomberg." During his lecture, Park explained the background of Antock's fintech startup, which seeks to resolve the imbalance of financial information through IT technology. He also shared the company’s core technologies related to data and its ongoing business efforts, highlighting the challenges and efforts of a data-driven company.

Park emphasized, “Antock independently acquires and processes the original data on companies and develops advanced analysis algorithms. We transform business, corporate, and financial data from numerical figures into visualized information, making it easier and more meaningful for investors and business analysts to understand.”

Antock has developed and launched the 'Hubble Database,' a data infrastructure system to address information asymmetry. This system automatically identifies more than 800,000 corporate entities in Korea and collects over 300 individual data points for each company. It calculates corporate performance, investment history, and analyzes risks. The analyzed data is then provided to various clients, including corporate support organizations and investment institutions.

He added, "It’s essential to visualize the results of the data analysis so that everyone can understand and agree on them. No matter how deep the analysis, if it is uncomfortable or hard to understand for the user, its usability will suffer." Park emphasized that the focus should not only be on data analysis but also on how the results can be effectively used.

Finally, Park stated, “The key to data businesses is the scale of the data and the effort to analyze individual data points from multiple perspectives. Creative data analysis is needed, where data is used in new ways, combined, decomposed, and linked to find unique insights."

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