We’re giving a sneak peek into the insights that will come from our Big Sexy Data meetup tomorrow night here in NYC, by asking our panelists to share with you how they see big data changing the fashion industry. Here’s what Loree Lash-Valencia from WGSN’s brand new data analytics platform INstock had to say:
Big Data is changing the Fashion Industry–but not everyone has bought their ticket to ride yet. The biggest areas being influenced are predominantly in the business to consumer e-commerce platforms,
where we have been immersed in data from the onset. But, in more typical bricks and mortar retailers, adoption of utilizing big data is a bit slower than it should be.
Different parts of the fashion industry are utilizing big data in different ways–and at different speeds. The power of big data can’t be denied, especially when it comes from informing retailers about how to make better decisions.
Big data–or smart data–is fascinating. Its ability to inform, speed and empower decision making is fantastic. It can tell you what is resonating, what is not, and provide actionable insight in time for you to do something about it. There are so many exciting changes that can be applied to the shopping experience if big data influenced technologies get adopted. Whether we are talking about fit technology or personalization or the business intelligence tool that I work on now, big data is what drives the findings in customer preferences or actions that can enable companies to start delivering on that promise.
WGSN INstock informs on retail data points across the UK , US & Australia to empower decision making for brands and retailers. We look forward to hearing more about the brand new platform–and how retailers are using big data–from Loree at tomorrow night’s fashion tech meetup here in NYC. For more insights about fashion + big data, hear what Elizabeth Canon, founder of Fashion’s Collective, and Doreen Bloch, Founder of beauty tech startup Poshly, had to say when asked the same question.
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