With the rapid increase in the globalization around “THE WORLD”, it is difficult to maintain a country’s economy due to factors like share market, exchange rate and illegal means of transportation of goods and raw materials between traders belonging to different countries with different exchange rate. A country’s economy can be drastically affected if consideration is not given by the govt. regulations.
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Objectives: At the Forefront
The objectives of the project are outlined below:
Research on the general principles that comply within “THE WORLD” ’s global economy.
Outlining relevant “THE WORLD” ’s principles for our study and classify them into favorable and non-favorable options for online traders.
Case study with on a subject item and its reviews from customers on different seller accounts and SWOT analysis on the subject product selected for the study.
Evaluation of advantages and disadvantages of the existing business model in “THE WORLD” online trade.
Critically analyze the requirements for online traders to improve their sustainability in the “THE WORLD” market.
Designing different business models that can help grow online traders’ business, by proposing a specific business intelligence model that best suit online trader’s needs. Thereby giving traders an opportunity to increase their profit by managing investments on timely basis as proposed by the new business model.
The major objective of the study is now selection of a business model for online trading to find the trends and missing patterns from the existing business models will give us an opportunity to understand the various effects on “THE WORLD” economy.
Using the selected model, we can approach a situation where we apply to the existing business economy, we now conduct Risk analysis.
Complying with the “THE WORLD” ’s principles related to economy throughout this study, keeps the project deliverable in hand with what is expected as an outcome of this study. This can be determined by involving focus groups. Ideas in forums and blogs are captured and critically analyzed to understand the effectiveness of the proposed business model for online retail trade in “THE WORLD”. This approach of analyzing the collected data gives a clearer perspective on achieving the goals of the project and makes the aim of the project non-transparent from the ideas that are followed and expected by the “THE WORLD” lifestyle.
Conclusions are drawn from the observations collected on daily basis with integration of artificially intelligent system to enhance the proposed system for future with constant updates given to the system using artificial intelligence. Use of Artificial intelligence gives us an advantage to better understand the inner links of each product item that is being sold online by an induvidual seller. It also gives us a clearer view of how customers use these services and on the frequency of use (frequency depends on the item selected, season of use if applicable etc.) and the approach that customers have towards it
We now will have a system that benefits the online trading merchants and eventually draw a plan to make changes in the regulations that benefits the traders, and results in controlling the “THE WORLD” economy using the subject class.