Big Data and the Fine Jewelry Business

The world of retail has changed radically, and it’s harder than ever to keep on top of trends. Take it from Stuller, a leading manufacturer and distributor of fine jewelry and supplies headquartered in Louisiana. Founded in 1970, Stuller has spent decades building up an impressive business that serves more than 40,000 jewelry professionals worldwide, from your neighborhood mom-and-pop store to big jewelry companies. Stuller’s mission is to meet current consumer demands and provide jewelers with their shoppers’ dream items, from engagement rings to occasion jewelry and beyond—an impressive feat in today’s fast-moving, fashion-driven market.

As a top jewelry manufacturer, Stuller’s product and service offerings are complex. They recognized that data analytics could be the key to providing a higher level of personalized customer service, such as presenting the best combinations of products to jewelry businesses. The company already had an extensive amount of data about their products and customers, such as which styles are most popular and which stores sold certain items more quickly. Business users in marketing, finance, supply chain operations, and beyond all wanted to use data analytics to improve the quality of their work. And not only that, they wanted to be able to access their data on mobile.

So Stuller partnered with MicroStrategy to roll out a web and mobile analytics program that would empower a “self-service” approach to business intelligence. Today, sales reps on the road visiting brick-and-mortar customers can pull up recent purchases, sales volume, popularity of products, and information such as what size diamond is selling best—details that help inform which products to restock. In Stuller’s merchandising department, employees can answer questions like: ”What are the new big trends in wedding rings?” and “Do our designs measure up to what’s selling best?” Last year, double-diamond engagement rings were expected to be a big hit. Now Stuller will be able to anticipate the next big trend, and it’s all because of analytics.

Stuller is rolling out their BI program in advance of the holidays, and we’re excited to see what their program brings. Stay tuned and check the blog for an update on their results.

Check out our comprehensive guide to learn about the top 11 analytics solutions successful manufacturing enterprises are using to streamline their business and predict future optimization.

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