Gemewizard®'s research and development team has devised a fully automatic Big Gem Data Analysis™ System (BGDA) for large-scale gem and jewelry marketplaces, which includes unique market analytics and a fraud detection and prevention service.
Big data analytics within the gem and jewelry trade is hardly used. Contrary to other fashion categories, which focus their sorting on many criteria, such as the type of item, color, texture, fabric, season and others, the gem and jewelry section is stagnent with general fixated inquiries, such as 'the most preferred gem' or 'the popular carat weight in engagement rings'.
The BGDA takes the gem and jewelry online trade to new horizons. The system represents a milestone in the industry shifting to remote trading, where for the first time, the buyer's trust (and the marketplace credibility) is put under the spotlight.
The BGDA's ability to guide sellers on proper and effective disclosure when uploading their gems, and to prevent, detect and clean marketplaces from potential fraudulent activities, allows the creation of a safer marketplace, empowering good sellers and enhancing buyers' trust and experience by creating a real What-You-See-Is-What-You-Get environment.
In addition, the BGDA can improve the quality of the data in provide extremely valuable analytics insights, such as geographical and seasonal trends, for both the marketplace admin and the seller user.