Proposal to Utilize Big Data Analytics to put J. Crew Group Inc. Back on Their Feet
I propose that J. Crew Group Inc. adopts the trend of using Big Data Analytics. To make this possible, I suggest that J. Crew Group Inc. subscribes to Big Data Analytics Software Tableau for $20,000 a year. This software will allow J. Crew Group Inc. analytics team to discover why their company fell in a slump, and how they are going to fix it.
Current Situation
According J Crew Group Inc.’s investor reports last quarter, sales dropped an astonishing 6%. This has been a reoccurring trend over the past year. In an article in Business Insider about J. Crew’s sale decline, a comment was made about how the clothing is over priced. In addition, in the same article, customers were making remarks about how the clothing is becoming less professional. Lastly, customers were making complaints about the vanity sizing of the clothes. M
In order for J Crew Group Inc. to get back on their feet, the company needs to figure out how to build back their relationship with their customers. Understanding customers interest in vitally important when it comes to driving sales in retail.
Big Data Analytics software like Tableau is capable of analyzing multiple variables that affect sales. In the scenario, utilizing Big Data Analytics, specifically Tableau, is an optimal solution, because of the software’s ability to identify beneficial changes.
Big Data is Already Making an Impact
Health Care
Published in Forbes Magazine was a story about Big Data saving a woman’s life from cancer. John Halamka’s the CIO of Beth Israel Medical Center, was given the news his wife had breast cancer. He utilized Big Data to analyze which breast cancer treatments were most succes...
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Benefits of Trend
Efficient Pricing
Adopting the trend of using Big Data Analytics will help J. Crew Group Inc. immensely. Setting an efficient price for customers was a problem that lead to a decrease in sales. With the implementation of big data, pricing can be monitored closer, because it can be compared to competitors in real time with Big Data.
Connecting with Customers
The constant decrease in sales for J. Crew was impacted by the satisfaction level their customers had. Implementing a system like Tableau will help meet customer needs by analyzing popular clothing styles and colors.
Forming a Solution Together
Overcoming the historical problems J. Crew Group Inc. has incurred over time is a difficult task. However, implementing a Big Data software and working with Deloitte that offers cyber security and compliance support makes any task achievable.
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