Big data and data analysis has gone beyond novelty now have become a major driving force behind the rise and fall of global consumption trends and companies. After graduating from Chung-Ang University’s Department of Applied Statistics, Kim Ok-ki, a data scientist, studied the use and analysis of data between Korea and abroad. She is also working for a leading data analysis company. Kim Ok-ki is an expert in data analysis who won the Presidential Commendation on Information and Communication Day in 2019 and wrote a book containing the data industry and her experience. Let’s meet data scientist Kim Ok-ki, who is currently working for Lotte Data Communication company, previously worked at Acxiom, and is an advisor to the Ministry of Science, ICT, and Technology, with CAH.
1. Please introduce yourself to students at Chung-Ang University and readers who will read this article.
Hello everyone, I am Kim Ok-ki, who graduated from the department of applied statistics at Chung-Ang University and currently working as a chief data scientist in Lotte Data Communication Company.
2. CAH wonders when you became interested in statistics and data analysis and how you entered the Department of Applied Statistics at Chung-Ang University!
When I was in high school, I learned that the future would be an “Information Age.” Since I was a liberal arts major in high school, I decided that the most helpful department I could go to in the humanities was the statistics department and applied to the applied statistics department of Chung-Ang University.
3. Can you share any memorable classes, professors, or school events you had while attending Chung-Ang University?
The most memorable professor for me at CAU is Professor Park Chang-soon. One of the subjects he taught was Mathematical Statistics, and it was the most difficult subject I took. That class was the lowest grade in my university life. However, it was the most helpful subject while I was studying in the U.S. Since my professor taught SAS, which was a statistical analysis package at the time, I was able to get great assistance to have a job in the U.S. Therefore when I returned to Korea, I first visited him.
4. Since graduating from the Department of Applied Statistics, you have earned a master’s degree in economics and business administration from the University of Akron in Ohio. Why did you study economics and business administration again?
I learned the technology to analyze data in the Department of Applied Statistics. However, I decided that I needed business knowledge to apply and utilize it in real life, so I entered the Department of Management and Economics in graduate school. In fact, when I went to graduate school, my prediction was right. At that time, I also wanted to be a data analysts in stocks and securities, so that was another reason why I studied economy and management.
5. What kind of process do people usually take to become a data scientist for a company or public institution? Do you recommend a specific major?
Data scientists need to learn programs such as R, Python, SAS, or SQL technically, and algorithms such as statistical knowledge and machine learning. In addition, data scientists need to know business domains. You need to know the background knowledge related to the data. For example, expertise in each field such as medicine, stocks, marketing, and retail distribution. For that reason, I think there are various ways to become a data scientist. First, it could be starting as a business expert and approaching it with data science or becoming a data scientist and approaching a professional business. Since there is no one correct answer, you can approach it according to your major, interest, and current situation.
6. CAH is curious about your first job! Can a data scientist also start as a research assistant? Yes. When I was a studying for my Masters of Economics, a government-funded research project was underway at my graduate school. The project was looking for a person who is a SAS user and can analyze statistics. Fortunately, I was recommended at that time, and this was the first opportunity to start analyzing data.
7. At the headquarters of Axiom, the world’s No. 1 data service company, CAH was able to see data on your data analysis projects for Fortune 500 companies in the United States. Can you tell us about the overall experience of carrying out the project?
Axiom is the largest data broker company in the United States. You can think of it as a company that collects, processes, and sells data. Of course, they also consult about data. At that time, it was a company that operated as a business model that did not exist in Korea. I mainly worked on data analysis and development here.
8. Based on your experience at Axiom, CAH wonders what you think Korean companies should imitate or accept in the data analysis process of leading foreign companies!
For companies to use data to achieve business results, data needs a technical approach, but a data-based corporate culture is more important. Data-based corporate culture is the active use of data-based or analysis-based decision-making for corporate operation. In addition, quality control for quality data is also necessary by actively collecting and managing the essential data for this. I think this is what Korean companies should emulate.
9. You were awarded the Presidential Commendation on Information and Communication Day in 2019, and contributed to the overall data economy revitalization policy in the domestic industry. Can you tell us about your experiences related to this?
The year I first started working on data was 1995. In fact, I started this work early compared to other people who analyze data in Korea and the United States So, I learned the data-related business field early. When I returned to Korea, the data business here had not even started yet. However, since 2010, as big data has emerged and interest in data has grown, the government needed someone with understanding and experience of data. Therefore coincidentally, I was able to have a lot of related experiences in government data policy advice and projects.
10. You are currently an advisor to various national institutions such as the Open Data Strategy Council, the Financial Security Institute, and the Ministry of Science and ICT. What kind of help and advice do these institutions need, and what activities are you doing?
I am providing information necessary for data-related business and policy advice or laws to public institutions. You are interested in AI/ML data analysis, data strategy, and data technology for domestic public institutions and private companies.
11. You are conducting data consulting business such as anti-digital marketing (DMP, CDP) and education related to data science. What points do you focus on training?
Basically, I educate data strategies and data organizing for data utilization. I also help each organization understand the data utilization at each stage. The goal of my education program is to convey the experience necessary for practical field application.
12. Working as a data scientist at different companies, is there a data analysis case that impressed you because the result was different from the expectation?
A long-term strategy and approach are required to achieve the full results of successful data utilization. However, companies want to achieve short-term results quickly, so we often struggle with that. Well, it has been over 20 years already, but I remember the case in the US about GM’s (General Motors) project to predict the preferred car brand, demand forecast, and purchase timing. This was the most impressive analysis I have conducted.
13. You are also the author of the books <How does data become an assst? (Data Monetization) and <Data Science, how it changed the company>. What motivated you to write a book?
Because I had experience in data-related analysis and business earlier than others, I wrote these books in the hope that they would be helpful for domestic companies and governments to gather information and experiences that would be good to know about data business or policies in advance.
14. What do you think is the charm of data science?
The information that data holds is a living organism. Data is different yesterday, different today, different tomorrow. I think the fact that there is always something new is attractive.
15. What do you think are the most promising subfields or development directions in science?
Data consists of a data platforms, data management, and utilization services, of which data utilization service will develop the most. In particular, artificial intelligence will progress the most in the application area of each industry, and data utilization in the digital twin or metaverse side is also likely to develop more.
16. As a data scientist, what is your opinion about how public data in Korean society should be used to have valuable meaning?
Public data is data generated from public administration operations, and it is most important to collect and disclose data that accurately reflects the situation or problem of the site. I think that people can utilize public data that is open where necessary.
17. In an interview with Digital Daily in 2019, you said, “Companies and Government say that it is the age of data, but think of information only as a by-product. They need to have real sincerity to achieve digital transformation.” Can you give us your opinion on what the government and companies’ efforts could be to show sincerity?
I believe that sincerity is, in the end , “practicing.” Rather than hundreds of strategies and policies, it is about selecting priorities, applying them where needed in the field, and putting them into practice.
18. Have you ever experienced a failure or a slump before reaching your current position? If you have, CAH is curious how you overcame this.
When I returned home, I did not adapt well. Taking a break while raising children was helpful, but it cut into my career and was hard to come back from.
19. Other than your goals as a data scientist, do you have any other goals in life?
In the past, I wanted to become an expert by doing my best in a field. Now, I want to create the results of my life based on what I have learned and experienced.
20. I wonder what Chung-Ang University is to you!
In my memory, Chung-Ang University is romance, love, and fierceness.
21. As a senior in life, is there something you want to say to those in their 20s who are running towards their dreams.
I want to tell them to enjoy the fun and experiences that they’ll have to the fullest.
Kim Ok-ki is a data scientist who is changing data in a valuable way. During the interview, we were able to confirm her passion and strong convictions in the field of data analytics. As she pointed out the ‘practicing’ of data analysis, we could feel how she was sincere about her career and society. We applaud her enthusiasm and vision for her work. CAH will continue to pay attention to the future moves of data scientist Kim Ok-ki, who will show a more diverse image in the field of data science.