What are the benefits of keeping Fashion Data?
What are the advantages of Data Storage in the Fashion Industry?
Fashion is not the first thing that
comes to mind when you think of Data Storage, Fashion Designers are utilizing Data
Storage to develop and advertise their products. On some level, Fashion appeals
to everyone on the globe, yet everyone's choices and inclinations differ. Designers
may discover some startling facts about their designs and assist in ensuring their business's success by utilizing big data. Here is everything you need to
know about how big data is influencing the fashion business.
Many readers are not involved in the
fashion business. Those working in the Data Storage sector, on the other hand,
should be aware of the $2.4 trillion fashion business, which has grown at a 5.5
to 7 percent annual pace over the last decade. Data Storage is influencing
industries from design to resale. Furthermore, almost everyone in the globe
relates to fashion on some level and to trends that suit their particular
expressions.
Historically, the retail industry has
been among the slowest to accept technology improvements as compared to other
businesses such as real estate, construction, and manufacturing. Amazon was the
first to enter the game and begin winning in large numbers by utilizing
technologies such as machine learning and artificial intelligence. Even the most
venerable companies began to pay heed to Amazon's impact.
Several sectors have gotten on the Data
Storage bandwagon throughout the years, with the fashion industry being the
most recent. The compatibility of Data Storage with the fashion business is
based on three fundamentals: extraordinarily large amounts of data,
authenticity, and diversity. The more data created, the greater the quality of
data absorbed by Data Storage technologies.
How is Data
Storage Affecting the Fashion Industry?
In recent years, there have been
several developments in the fashion business. Data Storage Hits the Runway:
Jeremy Sutter posted an intriguing piece for Innovation Enterprise titled Data
Storage Hits the Runway: The Impact of Data Storage on the Fashion Industry Who
knew the cloud could be so trendy? Sutter concentrated on a variety of upcoming
improvements. Data Storage is certainly assisting businesses with their
marketing, but it is also assisting them in determining which goods to bring to
market. Here are some examples of how designers are utilizing data storage.
Pricing and Colour
Scheme Selection:
Designers might get market information
from past fashion lines. They can quickly dive down and discover which colours
clients like. Designers must keep up with current trends, but it is also vital
for them to learn the colours their consumer's favour. Fashion designers may use
data storage to discover which colours are popular and adjust their designs to
fit the demands of their consumer base. Data may also be utilized to assist you to establish your clothes costs. Every piece of apparel created for the runway
must be valued as soon as it exits the stage. Designers must grasp what their
clients are willing to spend on their apparel. Data Storage may assist
designers in determining average pricing that will attract more consumers.
Marketing
with a Specific Purpose:
The era of mass marketing is coming to an end. More firms are recognizing the value and efficacy of targeted and tailored marketing in getting items in front of the appropriate people. Data Storage insights may assist designers in developing smart marketing strategies that target the correct audience. Because many in the industry have yet to get on the big data bandwagon, data storage may still give designers and even merchants a competitive advantage.
Men's vs.
Women's Clothing:
It might be difficult for designers to
determine whether they want to specialize in men's or women's clothes. Every
designer has a distinct target audience, and the designer must understand this
demographic. Data Storage assists designers in determining which customers make
purchases, how many things are sold, and the magnitude of their transactions.
Designers can use this data to evaluate if it is more profitable to focus on
men's or women's apparel. Assume your company offered nursing scrubs, a
lucrative niche in the fashion business. You discovered that more males were
making greater purchases from your business by analysing data storage. Catering
to the smaller – and more profitable – niche of men's nursing scrubs might be
more profitable.
Data Storage
and Quality Control in the Fashion Industry:
Companies employ pattern recognition
in conjunction with data storage to preserve the integrity of their brands.
Brand integrity is preserved not just via quality control, but also by
combating counterfeiters who disseminate copycat fashionwear.
The Office of the United States Trade
Representative published its annual Notorious Markets List in 2017, stating
that “imports of counterfeit and pirated physical items are estimated to be
almost half a trillion dollars or roughly 2.5 percent of worldwide imports.” With
these figures, internet firms are stepping up to address an issue that has
plagued the fashion industry for generations: counterfeit and pirated products.
According to the World Health Organization (WHO), roughly 10% of medical items sold in impoverished or emerging nations are counterfeit or of low quality. According to other analysts, the proportion is significantly greater. While it is difficult to quantify the precise damage, research conducted by the University of Edinburgh and commissioned by WHO discovered that counterfeit or substandard drugs are directly responsible for tens of thousands of fatalities each year.
Conclusion:
Over time, the fashion business has
changed. A variety of variables are at work. The unexpected benefits of Data
Storage has been extremely useful to designers all around the world. They
assist them in developing the greatest designs and refining their marketing
tactics for each consumer. Overall, we should anticipate big data to help not
just consumers but also fashion companies. Companies will be able to simplify
their operations, decreasing manufacturing costs if customers can anticipate
tailored products that match their needs.
Keywords:
Data Storage
Data Storage Analytics
Impact of Data Storage in Fashion Industry
Data Storage useful for the Designers
Tags:
#datastorage #fashionindustry #volume #datastorageinfashion #datastoragedesigners #datastorageanalytics
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References:
“Pattern
Recognition.” Journal – Elsevier, www.journals.elsevier.com/pattern-recognition.
Matchar,
Emily. “Artificial Intelligence Could Help Generate the Next Big Fashion
Trends.” Smithsonian.com, Smithsonian Institution, 3 May 2018, www.smithsonianmag.com/innovation/artificial-intelligence-could-help-generate-next-big-fashion-trends-180968952/.
Andrej Kovacevic
(2018). Here’s How Data Storage Is Changing the Fashion Industry.
[online] SmartData Collective. Available at: https://www.smartdatacollective.com/how-data-storage-changing-fashion-industry/.
https://www.facebook.com/techloot
(2018). Fashion Meets Data Storage: How Fashion Industry Benefits from
Big Data. [online] SmartData Collective. Available at: https://www.smartdatacollective.com/big-fashion-meets-data-storage-how-industry-benefiting/.
CGS. (2018). How Data
Storage is Impacting the Fashion Industry. [online] Available at: https://www.cgsinc.com/blog/how-data-storage-impacting-fashion-industry.
Oodles technologies.
(2018). How Data Storage Is Reshaping the Fashion Industry.
[online] Available at: https://www.oodlestechnologies.com/blogs/How-Data-Storage-Is-Reshaping-the-Fashion-Industry/
[Accessed 27 Oct. 2019].
Launch metrics. (n.d.). 3
Ways Your Fashion Company Can Benefit from Data Storage. [online] Available
at:
https://www.launchmetrics.com/resources/blog/3-ways-your-fashion-company-can-benefit-from-data-storage.
Great to know what the data has to offer to the digital world. It has really affected how we target shoppers digitally.
ReplyDeleteTraditionally, there was a need to rely on the past sales data to forecast, unstructured data, essential pieces to make data-driven decisions were lacking such as strategic intelligence and patterns perspective.
But now, as the blog suggested marketers have better insights to do precise personalization for target shoppers and build brand value.
I'd like to add a few additional benefits of data storage for marketers as well, for example Early trend identification and predicting success of a product launch with the help of smart tools such as predictive algorithms and, Reduce costs by having a intelligent data storage system in place a company will have an efficient internal communication and can eliminate the hindrance of oversupply.
This comment has been removed by the author.
ReplyDeleteVery informative blog, as it emphasizes on the importance of customer specific data in Fashion Industry decisions. With large amount of people browsing through internet daily, large volume of consumer data is collected. E-retail and fashion being the largest industry with respect of digital consumption, Fashion Designers and Brands can now make informed business decisions using that data.
ReplyDeleteRetail has seen a boost since the advent of world wide web, data is collected and restored since many years; the collected data can be used to draw purchase patterns, engagement comparisons, etc. to help Fashion Brands grow.
Digital data can further be filtered easily using tools, IT codes, and online portals. By filtering on parameters like user demographics, geographic locations, date range, seasons, etc. marketers can provide user relevant insights.
Brands are now able to access customer specific data which helps them provide personalized shopping experience. Data also helps them target high intent driven audience, which in turn improves sales and engagement.
No wonder big giants in the Fashion Industry have already started investing in Big Data and Data Analytics!