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    Jewellery Industry Analytics

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    RAVI KUMAR
    The jewellery industry can benefit greatly from leveraging data analytics techniques across key areas like inventory optimization, customer profiling, product analysis, and branding performance. Analytics can help jewellers replenish best-selling items efficiently, eliminate non-moving stock, optimize inventory levels to avoid outages and overstock, and gain insights into sales patterns to forecast demand and inform business decisions. When applied appropriately, analytics has the potential to significantly increase sales, customer base, and profits for jewellery companies on an ongoing basis.

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    Jewellery Industry Analytics

    Uploaded by

    RAVI KUMAR
    58 views2 pages
    The jewellery industry can benefit greatly from leveraging data analytics techniques across key areas like inventory optimization, customer profiling, product analysis, and branding performance. Analytics can help jewellers replenish best-selling items efficiently, eliminate non-moving stock, optimize inventory levels to avoid outages and overstock, and gain insights into sales patterns to forecast demand and inform business decisions. When applied appropriately, analytics has the potential to significantly increase sales, customer base, and profits for jewellery companies on an ongoing basis.

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    The jewellery industry can benefit greatly from leveraging data analytics techniques across key areas like inventory optimization, customer profiling, product analysis, and branding performance. Analytics can help jewellers replenish best-selling items efficiently, eliminate non-moving stock, optimize inventory levels to avoid outages and overstock, and gain insights into sales patterns to forecast demand and inform business decisions. When applied appropriately, analytics has the potential to significantly increase sales, customer base, and profits for jewellery companies on an ongoing basis.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    58 views2 pages

    Jewellery Industry Analytics

    Uploaded by

    RAVI KUMAR
    The jewellery industry can benefit greatly from leveraging data analytics techniques across key areas like inventory optimization, customer profiling, product analysis, and branding performance. Analytics can help jewellers replenish best-selling items efficiently, eliminate non-moving stock, optimize inventory levels to avoid outages and overstock, and gain insights into sales patterns to forecast demand and inform business decisions. When applied appropriately, analytics has the potential to significantly increase sales, customer base, and profits for jewellery companies on an ongoing basis.

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    The Rise of Analytics in the Jewellery Industry

    1. Overview
    The jewellery industry has a lot to benefit from the potential of data driven insights and
    advanced analytics with an increase in sales and customer base on an ongoing basis as the
    amount of data being generated is also enormous which include sales data, customer data,
    expense data, warehouse data etc. Various analytics and predictive techniques that can be
    leveraged by the jewellery industry to scale the business to greater heights and prevent various
    risks involved in the business.

    a) Areas of Growth

    Inventory Customer Product Branding


    KPI Analysis Forecasting
    Optimization Profiling Analysis Performance

    b) Examples
    a) Product Viewership (E – Commerce)

    Replenishing profit bearing items more efficiently while eliminating non-moving stock resulting
    in better buying decisions and higher profit margins.
    b) Inventory Optimization
    Jewellers maintain high value inventory of jewelleries and accessories. Neither out of stock
    nor overstock is good for the business.

    c) Sales Analysis

    November brings in the highest revenue as compared to the other months.

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