The jewelry industry is ready to flourish in the future. Predictions say that sales will grow considerably in the coming years.
This, in turn, brings opportunities for adopting and implementing advanced analytics and highlights the need for data-driven insights in the sector. The client needed scalable data analytics and visualization to understand sales, marketing, inventory management, and manufacturing processes.
47Billion worked with the client team to understand the challenges of the existing system, efficient analytics process, and primary KPIs to be considered.
The visualization dashboard helped the client in the following ways –
- KPI analysis helped bring focus to common goals and ensured that they stayed aligned with the organization’s efforts and expertise.
- The organization can now maintain a high-value inventory of jewelry and accessories. Predicting out-of-stock and overstock goods became easy with time inventory status.
- Marketing experts could now allocate optimal ad-spend budgets to various marketing channels for better ROI and conversions.
- The solution became a single source of truth for a 360-degree view of the customer journey.
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