Our fashion tech meetup series is back, and we couldn’t be more excited for the incredibly smart speakers we’ve lined up for “Big Sexy Data”, happening this Thursday in NYC. First up is Elizabeth Canon, the ultra-creative and extremely intelligent force behind Fashion’s Collective and the exclusive Fashion Forward conferences.
We’re asking each panelist to tell us how big data is changing the fashion industry. Here’s what Elizabeth had to say:
Big Data has become such a buzz word in the industry press that I think people are getting “big data fatigue”. The result is that many people know about big data but are often challenged by what to do about it for their own brands and businesses.
We couldn’t agree more: everyone’s talking about big data, but we’re all still figuring out how, exactly, to integrate it into our businesses in appropriate, impactful ways. She adds:
For fashion and retail in particular, what’s interesting is how data can be used to better understand your customer and predict their future behavior with very high accuracy. This impacts all aspects of a brand (across multiple departments), and is extremely valuable in shaping a brand’s image in a highly competitive market, informing the right product development, merchandising strategy, brick and mortar locations, pricing, etc. Having access to the right data, and the right analysis can also directly increase conversion and sales.
We want insights, of course, but we also want actionable steps and measurable results. If you’re in NYC, join us for our fashion tech meetup this Thursday where we’ll dive deep into big data for fashion. You can also read more about big data + fashion on Fashion’s Collective.
Third Wave Fashion has been your fashion tech think tank since 2011. We publish the first ever printed fashion tech magazine, Third Wave. Follow us on Twitter or subscribe to our newsletter to stay on top of the latest in fashion tech + wearables.