2. The Issue with
Conventional
Retail Analytics
Fashion companies and brands used to keep vital
information like inventory data and sales records
internally. However, this also meant that they
were operating in a vacuum, with the colors,
styles, fits, and other aspects of their clothing
being largely determined by unstructured and
dispersed data. There were missing pieces of the
puzzle, like competitor analysis, pricing, trends,
insights, and other pertinent data.
3. Data Science &
Fashion Industry • Fashion firms are employing data
science for several purposes, such
as trend forecasting and sales data
analysis. Businesses can learn
about consumer preferences and
modify their product offerings by
examining sales data.
• For instance, the business can
increase production of a particular
style or color if it is selling
exceptionally well.
4. • In order to stay ahead of the curve
and create highly sought-after
products, data science can also be
used to forecast fashion trends.
• Fashion brands can quickly
identify new trends and modify
their product offerings to meet
consumer demand by analyzing
social media and search data.
5. • Fashion companies can reduce
waste and enhance their supply
chain management with the aid of
data science.
• Businesses can find inefficiencies
in the manufacturing process and
make changes to increase
efficiency and decrease waste by
evaluating production data.
• This is advantageous for the
environment as well as the bottom
line of the business.
6. Challenges and
future
• However, there are also challenges associated with
using data science in the fashion industry. Data
privacy concerns, data quality issues, and the need
for specialized skills and expertise are all potential
obstacles that companies must navigate.
• Data science is being used to predict a product's
"shelf-time" on the website and notify customers if
it will soon sell out, in addition to using data to
understand customer needs and shopping behavior.
Consequently, this aids in the estimation of
production and dispatch for both manufacturers
and retailers in a particular market.
7. References
(n.d.). Wikipedia. Retrieved January
30, 2024, from
https://www.linkedin.com/pulse/data-
science-fashion-industry-dr-ing-
srinivas-jagarlapoodi/
Singh, A. (n.d.). How the Fashion
Industry is Using Data Science. Great
Learning. Retrieved January 30, 2024,
from
https://www.mygreatlearning.com/blog/
how-the-fashion-industry-is-using-data-
science/
