But there remains something utterly charming about the maps. As Kapadia puts it in the book: “One sketch map, like a picture, is worth a thousand words.”BIG introduces the newest addition to its cloud-based platform for jewelry retailers: MAPS. MAPS (Merchandise Analysis and Planning System) finally answers the question, “What Do I Need To Buy?” Unlike other systems, which use ambiguous or generic factors to tell you what to buy, MAPS is driven by each client’s budget and goals, specific to their store.
MAPS works in conjunction with real-time data from Balance to Buy and retailer defined turn, GP and inventory goals to create instant buying plans. These plans can be created for vendors, categories, or any combination. It allows users to create plans and budgets that buyers can quickly print and take to vendor appointments.
To ensure this product was filling a practical need, BIG collaborated closely with industry insider and BIG staff member Denise Sober. As the Buyer and Accountant at Occasions Fine Jewelers, Denise was an integral part of the creation of the MAPS program. “MAPS is based off a set of spreadsheets that I have personally used for Occasions over the last two years that Abe Sherman, my brother Mike Fleck and I worked on together. It allowed us to increase our sales significantly while reducing our inventory by $1,000,000,” Sober said.
“MAPS uses real-time data from Balance to Buy along with the turn goal, gross profit, and/or inventory goals you set to print out exactly what you need to purchase. I implemented and used MAPS this January and my preparation time to go to the buying shows was cut from 2 weeks to 48 hours. And the best part was that just prior to leaving for the show, I was able to update all my plans to reflect current inventory levels and sales.
Those of us who are frequent travellers will most likely be accustomed to using location maps to reach our choice of destination. However, location maps are no longer only limited to taking commuters from one point to the other. Technologies such as artificial intelligence, and big data analytics are being used to enrich user experience in this segment as well like various other verticals. In an interview with DataQuest, Abhijit Sengupta, Director – South East Asia and India, HERE Technologies, talks about what the company has to offer for the India market, and how services offered by HERE are different from other existing players.
Q. How are mapping solutions offered by HERE Technologies different from those offered by Google Maps, other competitors?
“Location” is the key to solving many real problems such as 1) travelling to point A to point B 2) Search as a point of interest 3) industry specific problems such as in transport and logistics, public sector, and automotive. HERE Technologies’ open location platform (OLP) and HERE Product suite are addressing such specific requirements by industry segment to deliver the best experiences.
Additionally, when we talk to our customers, we offer assets – a map, a platform, service, or application – that helps them build and grow their business. Our customers know what they’re getting when they work with us. We are not looking to monetize the data of customers’ customers.