MSIT capstone

Jewelry has been a really unstructuredsomewhat chaotic with respect to in innovation. and also had sSome advancements in technology have been leverage throughout these past years, but innovative new technologies are not leverage nearly as regularly as in other industries. In the past, it was thejewelry businesses were used to passed on and run through the generations and family properties or entities. However, with the But now when emergence of technological advancesy emerged and introduce itself with different numerous businesseswithin the parallel industries, the jewelry business is finally incorporating innovations to boost production, sales, and profitability. it also develop some new surprising technologies for the jewelry business too, which really changed this stereotype in this business. This technological stigma has slese restrictions slowly but surely has worn off, and allowing jewelry firms showing the versatility of having an independence not seen in the days of the t nature of business with the unrestricted family run and bound and heritage business culture. The latest inventions in this business industry, such aslike the solution for the identification all items in the supply chain leveraging radio frequency identification (of RRFID) solution for the jewelry makes the better logistics management system and also the nearly effortless in the tracking system of valuable items. Another mature innovation invention for the for jewelry business areis the highly successful upcoming E-business through the ecommerce websites and applications for mobile devices. These applications are the fastest and most efficient way of selling the items to the customer. They increase profits through both accessibility of inventory for purchase online as well as reducing or eliminating the need for brick and mortar stores.It refrains the security threat and also the idea of touching the jewelry makes it dark or something like these dilemma. These are the real tides turning changes in this industry. Comment by Tim Stewart: Nusrat, the beginning of this sentence needs some clarity. If you are talking about the production of fine jewelry, then start your sentence, “The mining and manufacturing of fine jewels and jewelry…” If you mean the selling, then you can just say, “The Jewelry business…”

There are several data analytic products which helps the user to verify the cut, quality, and clarity of the items they desire. One the data for the jewelry specific area of expertise exploitation which includes IRYS trinity. This tool do performsthe data analytics on the jewelry business in the area of the product viewership, staff performance analysis, inventory stock audit, and many more (Business Analytics for Jewellery - Irys Pte. Ltd.: Jewellery Analytics Software, Jewelry Business Intelligence Tool, n.d.). Comment by Tim Stewart: Best practice is to spell out the acronym and then put it in parentheses as I did above with RFID.

Over the couple of yearsRecently, the changes in technology have made the importance of data importance very high and taken both product and data accuracy to another level. Like the jewelry, many other industries are trying to optimize their use of data to for accurate and just in time inventory control; compact level because they have the data about and tools to performthe big data analysis, they are now challenged with storage and network throughput issues. For instance, in many cases it takes too much space and time to retrieve and story needed data due to the network limitationssensors in the business development now. The Simply focusing on changes in data base behavior would only optimize the storage space, but the requirement of infrastructure and handling the structured and unstructured data with almost the same resources and expertise to process it is something different and needs improvement as well of the time. Right now the main issue for the IT teams is how to handle such big data from Peta and Exa- bytes to some extent of conversion into gigabytes (Mahajan, 2018).

My startup for this business model is to provide the analysis of the jewelry products and provide the predictive analysis of the customer purchasinge behavior for the retail jewelry industryin upcoming time. It should be the My main course of the product which will beshould be the accuracy of the data analysis of the business and predictions for retail outlets regarding customer behavior and how best to take advantage of this information. the outcome of the customer analysis based on the purchase of any product. We will It could also use our unique the predictive analysis algorithms for across a company’s the various product line s on itsto identify trends and predictive outcomes of within their current fiscal reigning year. But In order to perform the analysis it would be needingwe will incorporate a data warehouse for the system which is capable of producing storing and analyzing a big enough data enough for the accurate predictive analysis.

The area of growth shows the predictability of any kind of software or the data itself and it defines the various points which should be including:

1. KPI analysis

2. Inventory optimization

3. Sales analysis

4. Branding performances

5. Product analysis

These are the features which makes the dataare worthy of making qualitythe customer analysis on the basis of its past purchases and market trends. theseOur analytical features defines many unspoken and unheard questions which could exist and are not incorporated into our competitors’ products. This is the results of making thein taking businesses that were family owned, literally “mom and pop” store and leveragin data warehousing, machine learning and other intelligent tools to create a modern, profitable, growth oriented for even the business. Never to be considered which was thought of being a proper family prosperity and passed on to generations without even having a mom and pop shop without the talent to run theat business only on old techniques (Day, 1983).

Here is an example of data analytics exposure to the community and customer predictive analysis can be:

Network Diagram Forfor Jewelry Business

Work Flow Diagram

It describes the data flow model for the jewelry predictive analysis of customer purchase.

First step needs to collect the data from the POS operating on your business and then create the databases for them, if already made then import those databases to the data ware house operation to perform the ETL procedure which means to extract, transform and then load. Then after that procedure you will have your data ware house for the data analysis is ready to perform some productive results for you. Now you can make the analysis for the specific customer purchase queries to the data and extract out the results for them. Those queries will provide you the results which you need to examine the state of customer purchase and on that basis you can apply conditional analysis for the customers and performing this conditional analysis would make you enable to have a predictive analysis on that.

References Business Analytics for Jewellery - Irys Pte. Ltd.: Jewellery Analytics Software, Jewelry Business Intelligence Tool. (n.d.). Retrieved from irysgroup: https://www.irysgroup.com/trinity-jewellery-data-analytics/ Day, G. (1983). Gaining Insights Through Strategy Analysis. Journal of Business Strategy, 51-58. Mahajan, R. (2018). The rise of analytics in the jewellery industry. 15-16.