A Fashion Career in Big Data?

Do you respond? Do you care? Well, the folks at Dunkin' Donuts do care, because the more data they collect, the better they become at improving the customer experience.  

Data Collection is Everywhere

Everyone is collecting data, and the retail, fashion and lifestyle industries are no exception. Shop anywhere or visit any business and they all want to know how your experience was and what could they do to improve it.

It makes you wonder about what they do with the data they collect and how they analyze it to make sense of it.  

Fashion's Relation to Data

Retailers collect data via point-of-sale technology at check-out counters and this data helps inform the retailers' buying decisions. Did we buy too much of this style and not enough of the other? Did our planners provide the proper guidance on size and color? Much of this is after the fact, as the point-of-sale data can be considered historical, but it also helps inform the future. 

If a style did not sell well, the retailer needs to know why. By reviewing the data they can find clues to why that particular style did not do well and why other styles flew off the shelves.  POS Data Analysis: Make Data-Driven Decisions (2023) (shopify.com) 

Data can be a powerful tool if the proper data is being collected and analyzed in such a way that it helps a company make informed decisions on how to conduct business. Data by itself is meaningless unless it is properly interpreted and tells a story to support your business goals.

If you own any electronic devices, as well all do, you can be sure that your data is being collected and shared with other companies to help them understand how to better target you. Just click on an ad in your phone and watch how you are targeted.

Collecting data is only the first step. The real test is what to do with the data and how to use it. 

A Career in Consumer Analytics 

LIM College offers a Master of Professional Studies degree program (MPS) in Consumer Analytics for those who want to help companies that are collecting customer data better understand it. This program is about learning how to become a "data storyteller." We provide the tools so that you can interpret the data and make sense of it -- putting you in a position to "tell the story" that the data reveals. 

The story the data tells may not always be what companies want to hear, but the data does not lie. With a master's degree in Consumer Analytics, you will be prepared to tell the best story possible. 

It is not just about math, so fear not. This fashion-focused master's degree program is not about coding or developing the data, it is about understanding what has been collected so that you can tell the story (good or bad) of what the data is telling you.  

A master's degree in Consumer Analytics can open up a world of fashion career possibilities. Become a data storyteller!