In the 1980s, a husband-and-wife team started a small jewellery shop as a family business. Less than 40 years later, the business became one of the largest jewellery companies, employing over 30,000 people.

The large enterprise had a big vision: Make luxury affordable.

In 2023, senior executives aimed to position the company as a leader in the affordable luxury market. The firm operates in an industry where the consumer preferences shift constantly. To ensure long-term success, the executive leadership team developed a strategy based on several pillars:

• Maintain a positive brand image to differentiate offerings.
• Supply chain management to avoid making customers impatient while waiting for the purchase.
• Profitability of retail stores to know in what areas to expand.
• Employee retention to maintain the talent pool.

The steering committee was tasked to keep a close eye on these initiatives. However, without data it was impossible to identify what pillars are falling behind the goal.

“We can’t just rely on gut feelings, we need hard data to back up our decisions!”
– Said a steering committee member in a moment of frustration.

Senior executives risk misallocating budget to areas that do not contribute to organization’s goals.

That’s when we started to work together. Our business Intelligence services provide invaluable support in such situations. During our initial discussion, we agreed on the main goal: to build a business intelligence solution to offer an executive overview of the strategic initiatives.

The Solution?

The Executive Performance Overview 

Here was our working methodology:

(1) We conducted 10+ meetings to understand the strategic initiatives of the company and what data we can use from the company’s systems to measure the progress of these initiatives.

(2) We created detailed requirements for the in-house engineering team, who were responsible for providing clean datasets. Our aim was to integrate these data sources into a centralized model:

• Revenue and profitability of over 2600 concept stores.
• Stock inventory worth $0.58m.
• Branding scores.
• Employee retention.

(3) Using Power BI, a market leading business intelligence tool, we built front-end reports that  summarized all 20+ performance metrics in a mobile-friendly, interactive report. 

This overview facilitated by business intelligence services allowed executives to gain actionable insights into the most promising strategic areas. 

Technology used for building the business intelligence solution: Microsoft Power BI, Azure Data Factory.

“Amazing! Can’t wait to show this to my colleagues!”

Said a steering committee member while looking at the charts.

Using the insights from these reports, the steering committee discovered that there was a significant increase in consumer demand for eco-friendly products. Additionally, client’s preferences for sustainable fashion appeared in multiple reviews. It became evident that eco-friendly products provided an opportunity for brand differentiation.

As a result of these insights, they decided to invest more in the sustainable luxury business.

2 years later, the company uses 100% recycled silver and gold in its jewellery, helping it achieve a brand awareness score of 31%, placing the brand at the top of the luxury industry in key markets like the US, UK, and Germany.