The Importance of Data Analytics in Modern Fashion Industry

The growth of the internet and the abundance of data it currently offers has caused one of the most significant developments in recent years. Fashion data scientists can now examine and benefit from a multitude of information because of the introduction of social media. These tips are invaluable for fashion campaign managers and designers. This paper examined the importance of data analytics in modern fashion industry. The paper collected secondary data from existing journals, articles, and companies’ blogs and websites. The overall result from this study indicates that data analytics have significant roles in modern fashion industry. For one thing, decision making in relation to customers’ needs and expectation, trend, quality, etc are based on data collected through different means. Thus, the fashion retail market is a quickly evolving field, with trends shifting within a few years. Intuition and gut feelings alone are not enough. In order to adapt to shifting consumer tastes and preferences, the fashion industry needs a data-driven, analytical approach.

Authors

Publication Details

Journal
Global journal of economic and finance research.
Published
2024-10-21
DOI
https://doi.org/10.55677/gjefr/04-2024-vol01e5
Citations
2
Primary Topic
Big Data and Business Intelligence
Type
article
Field-Weighted Citation Impact
1.06
Controls
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article

The Importance of Data Analytics in Modern Fashion Industry

Luther Kington Nwobodo
2 citations
Global journal of economic and finance research.
Big Data and Business Intelligence
1.06
article

The Importance of Data Analytics in Modern Fashion Industry

Luther Kington Nwobodo
article en
2 citations

Abstract

The growth of the internet and the abundance of data it currently offers has caused one of the most significant developments in recent years. Fashion data scientists can now examine and benefit from a multitude of information because of the introduction of social media. These tips are invaluable for fashion campaign managers and designers. This paper examined the importance of data analytics in modern fashion industry. The paper collected secondary data from existing journals, articles, and companies’ blogs and websites. The overall result from this study indicates that data analytics have significant roles in modern fashion industry. For one thing, decision making in relation to customers’ needs and expectation, trend, quality, etc are based on data collected through different means. Thus, the fashion retail market is a quickly evolving field, with trends shifting within a few years. Intuition and gut feelings alone are not enough. In order to adapt to shifting consumer tastes and preferences, the fashion industry needs a data-driven, analytical approach.

Global journal of economic and finance research.Vol. 01(05)
Openalex Percentile: Top 17%
Big Data and Business Intelligence
1.06
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The Importance of Data Analytics in Modern Fashion Industry — Luther Kington Nwobodo · Global journal of economic and finance research. (2024) | TGRS Research Map | TGRS