“Role of IT Systems in Virtual Stores Implementation”
Table of Contents
Business Objective 3
The Business Model 3
IT landscape for this Business 4
1. IT System for Cloud based Mobile Payments 5
2. IT System for Vendor Management Software 6
3. IT system for Inventory Management/ Logistics 7
4. IT system for Business Intelligence / Analytics 8
Keeping in mind that in future we could find stores where shoppers can browse the shelves in virtual reality, we came up with an idea for a startup which could give the future shoppers a rich digital shopping experience on the go. Internet of things will change how we shop, as well as how products are ...view middle of the document...
1. IT System for Cloud based Mobile Payments
Often it is found that customers are reluctant to perform payments on their mobile phone through an application. Banks and merchants can deliver secure mobile payments to consumers today using HCE with tokenization, device fingerprinting, risk modeling and robust on-device software.
A new feature in the Android mobile operating system called Host Card Emulation (HCE); HCE allows any NFC application on an Android device to emulate a smart card, letting users wave-to-pay with their smartphones, while permitting financial institutions to host payment accounts in a secure, virtual cloud. HCE security relies on managed intelligence at the device and systems levels by leveraging the “always-on” and “big-data” ecosystems. The more data used to measure and analyze, the better the overall security.
The reason we have selected the HCE technology is – it supports majority of smart phones.
Visa is offering new ways to securely deploy mobile payment programs, including for the first time an option to host Visa payWave-enabled accounts in a secure, virtual cloud. This will give financial institutions and partner’s greater choice in offering consumers secure ways to pay with smartphones.
2. IT System for Vendor Management Software
A web based supplier evaluation system which offers evaluations, assessments. The solution would enable efficient vendor due diligence, vendor risk assessments, planning, vendor contract review, ongoing monitoring, and oversight.
* Contact management
* Vendor performance ratings
Data collection, cleansing and organization are so critical to a VMS implementation because you must assess all of the data before you can make effective decisions.
How to ETL the diverse data??
Nothing troubles retailers more than ETL complexity. Extract, Transform and Load (ETL) refers to a process in database usage. Software cost and management of ETL invariably are so large that projects often fail at launch. Moreover, with conventional ETL techniques it can be weeks before data created is utilized effectively. With modern Big Data tools this latency is cut short to seconds and change the perception towards ETL. Hadoop especially is a genius at transforming ETL processing and reducing burgeoning costs.
Open source Hadoop is a cutting-edge tool for harvesting big data. One of the most highly ranked, and used,...