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Can Watson bring changes in fashion industry?

We all know Watson(IBM computer) ‘s prowess already been tested in cancer research. Watson has proven its worth in editing a thriller film trailer, composing music, providing excellent customer service. But has Watson proven its worth in the field of fashion? The fact that IBM is betting big on Watson is abundantly clear and it is now being leveraged by big fashion houses to utilize social data to better interact with customers, improve sales with highly targeted marketing campaigns and predict customer orders.  The AI-based collection, aptly titled Future of Bollywood Fashion was created by analyzing around 600,000 publicly available historical fashion runway images from the last decade. Read more at: http://analyticsindiamag.com/future-indian-fashion-ai-watson-makes-splashy-debut-indian-runway/

 

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Impact of social media in fashion industry

Fashion week was initiated for designer to preview next season's clothes to editors and influencers but now it is being superseded by social media. With apps and Livestream shows, fashion industry has switched to digital platforms and collections are now more public. Showcasing fashion shows live on Instagram and Snapchat promotes the see-now-buy-now approach. To know more, please read the article by David Yi (Writer at Mashable India) -: http://mashable.com/2016/02/20/social-media-killing-fashion-week/#H1GhDT65qZq1

 

 

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Data Analytics help in understanding Customer Behavior

According to a survey, the Indian fashion industry is likely to touch $77 billion in a next five year. To understand the changing customer behavior and have a competitive advantage, e-commerce firms and retailers can use analytics. In a research from Technopak, the share of apparels and lifestyle in e-commerce is likely to increase by 30% and e-commerce will contribute about 6% of apparel sales. Fashion industry faces a challenge of understanding customers want and require quick access to market dynamics.  E-Commerce in retail is increasing, and all channels, firms are looking for advanced analytics to understand consumer behavior. Read more at: http://www.business-standard.com/article/pti-stories/data-analytics-can-help-retailers-know-consumer-behaviour-115042000358_1.html

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