In the last decade, the retail world has evolved enormously, opening the way for new careers in fashion. One of the latest positions is that of a data scientist.
The idea of Big Data has been increasingly popular over the past few years. Data mining has started to play a vital role in pattern predicting and understanding customer attitudes, desires, and feelings in the fashion industry. Under this context, companies have started adopting measures accordingly on the strategic advantage offered by data science.
A data analyst working in fashion is responsible for using all the gathered digital evidence to help retail and fashion firms become more successful by forecasting trends and customer behaviour. For a person who wants to delve into the domain of computer science, but does not have to give up their love of fashion, this position may be ideal.
In this blog, we will discuss the reason behind the rising need for data analysts in the fashion industry and how you can pursue a thriving career as a fashion data analyst.
The Need For Data Analysts In Fashion
The industry is not new to data analytics: apparel companies and manufacturers have long paid attention to sales data. The real change lies in the way data, such as internet-based knowledge and data from social media platforms or smartphone applications, is now being accessible. The volume of data available from these non-sales-related outlets is utterly immense and can provide useful knowledge to retailers for trend prediction and consumer behaviour monitoring.
Compared to conventional businesses, the comparative benefit of internet distribution sites lies in the vast amount of company knowledge they can track and analyse. In this case, as fashion turns from an “offer-based demand” to a “demand-based offer” paradigm, data science is transforming the dynamics of the industry.
Fashion manufacturers can control their production thanks to predictive data processing and fulfil the main target of any business company to meet the needs of the customer as quickly as possible, almost overnight.
Data science lets suppliers and distributors keep up with new technologies and consumer needs. Every phase in the value chain can easily make crucial decisions based on the most common designs, colours, materials, and sizes by gathering a large amount of data and converting it into information.
Job Opportunities of a Data Analyst In The Fashion Industry
As the fashion industry is vast and extremely comprehensive, many verticals need to be analysed, tracked and optimised based on valid data pointers and insights. Some of the most prominent and profitable careers to pursue as a fashion data analyst are:
- Merchandising Data Analyst
- Product Data Management Analyst
- Apparel Product Data Analyst
- Sales Data Analyst
- Marketing Data Analyst
- Digital Insights Analyst
- Machine Learning Engineer
How Data Analysts Can Get Started
A fashion data analyst would ideally spend most of their time reviewing and ‘cleaning data’. This involves extracting the positive data from the negative into facts and reports that the organisation will appreciate. Then a data scientist can help develop algorithms to maximise the efficiency, sales and interaction of the brand online, using math skills and formulas. Most notably, to ensure that it improves the overall success and productivity of the business, the data analyst will continue to track the algorithm.
It is also a valuable opportunity to work in retail while learning, as you can discover the ins and outs of how a brick and mortar store works, what sells on the shop floor and the value of customer service. Hands-on market training can assist a data scientist to best leverage their expertise to predict patterns and gain feedback from consumers. As part of a fashion merchandising analyst programme, there are also colleges which offer internships in retail. You can continue to apply to apparel and retail companies after graduating with a degree or specialising as a data analyst.
You can start the process by pursuing a STEM major, which stands for science, technology, engineering and mathematics and refers to any subjects that fall under these four disciplines. STEM education creates critical thinkers, increases science literacy, and enables the next generation of innovators. You can even strengthen your knowledge by opting for an advanced degree in either math, engineering, programming or predictive analytics. Followed by this, you must get a deep understanding of how the fashion industry works, which is why you need to pursue fashion courses like Bachelor of Fashion Technology (BFTech), BSc in Fashion Design or Fashion Merchandising.
The fashion industry is based on a precarious balancing of multiple variables and challenges, such as evolving trends, the budget of consumers, and the lack of unified sizes and data science is just starting to be used as a method to address these issues. If you think you’re cut out for the job, you should consider opting for a fashion course from prestigious industries like NIFT. To crack the famous entrance exam of NIFT, you should consider contacting us at IID. With a team of professionals and experienced professors, we help you prepare for the NIFT examination!