Data Analytics: An indispensable tool in Apparel Industry
Data is a natural resource in modern retail. Data Analytics is all about analyzing the voluminous data in real time, which helps in enhancing management decisions. Apparel Industry is dynamic where success of next season’s collection hinges on selecting the accurate designs, colors, fabrics, shapes, and sizes. Analyzing data with positive insights can be a big game changer in the modern apparel world.
Apparel industry is mostly influenced by forecast that is based on identifying the most popular parametric values (colors, fabric, style and many more) of apparels. If you predict it right, it may bring a profitable season for you, else it may lead to heaps of discarded inventories. The surge of change in consumer behavior is dynamic and with the help of data analytics engines we can recognize the customer preference which will lead to confident business decision. It helps the retailers in knowing the customer demands thereby minimizing the risk and managing the stocks that are relevant to consumer base.
Ginesys Analytics Dashboard Suite, integrated with Ginesys v11 ERP & Point-of-Sale, is a graphical web-based tool, which enables you to take business decisions on the move, by simply clicking through interactive graphical dashboards. It helps our apparel retailers and brand manufacturers in analyzing their humongous data in real time, thereby helping them to be in pace with the competitive environment in the market.