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Big Data meets Fashion – Put your best foot forward!

Shantha Kumari

Take the guesswork out of fashion. Big Data is your latest and hottest trends that’s taking the world of fashion by storm. In an industry where every color, cut, design and trend is micro analyzed and just as easily thrown out of the window with the next launch; you need to keep one step ahead of the competition. This is where Big Data puts its best foot forward (pun intended!)

Fashion as an industry is often regarded as frivolous or unnecessary, despite its global and money making capacity. But behind the scene is a very big business that can push the economy. The last projected revenues is around $3.75 trillion in 2016.

Check out Sysfore’s expertise in Big Data and call us to fix an appointment with our Big Data experts.

Fashion Data for retailers and designers

Big data solutions are increasingly become a part of the designers strategy. In an industry based on creativity, intuition and expression, applying cold data seems farfetched. But it is precisely this that helps the designers and retailers to accurately predict the latest fashion trends.

Big Data & Fashion

Big Data is all about turning extremely large quantities of data into useful information. When companies aggregate data and analyze them effectively, patterns emerge, ideas are born, and fashion companies become trend setters.

Aggregating global fashion trend and sales information from a wide variety of sources –including retail sites, social media, designer runway reports, and blogs–Competitive Intelligence (CI) is synthesized from the data, accessible in real time and can be customized to spotlight information relating to the unique priorities or focus of the company.

You can aptly use the term “Trend forecasting” that Wall Street Journal contributor Kathy Gordon used to describe information analysis using Big Data. Leading in this field is the Editd, an apparel data warehouse aimed at helping the world’s apparel retailers, brands, and suppliers deliver the right products at the right price and the right time.

Solutions for a distinct fashion problem

Agile retail companies are using Big Data analytics to identify consumer trends, utilize highly efficient production and distribution systems, and only sell online. The result is products that people want, at prices they can afford, without having to go to a mall.

So why should the fashion houses and e-retailers care about the immense valuable data available through data analytics? A look below will answer your question:

Curbing waste

One constant issue faced by the designers is guessing the right volume of items to be sold. An incorrect value will result in excess items being produced, which will have to be sold at discounted rates to make up for the loss. Using Big Data analytics, you can determine the demand and supply ratio accordingly, and produce in appropriate quantities.

Mass Productions

Customers now want quick service with instant gratification. Mass production is a guaranteed way of satisfying the huge demand. But, it can also backfire with items being produced which may or may not be consumed. Using Big data analytics, retailers can manufacture items based on which products are working and quickly alter the production accordingly.

Aggregation

Instead of pulling solely from internal datasets, companies today are able to pull from a variety of datasets across the web to determine not only what their customers want but also what their competitor’s competition wants. Social media shares, likes, tweets are used to analyze the trends and people’s response to any new design launched by the designers.

Through the use of big data from data collection tools, even the notoriously fickle and creatively driven industries like fashion can more efficiently deliver the products and services that meet consumer demands. Identifying designer influence allows producers, retailers and consumers to make more informed decisions about what they buy, as well as identify tomorrow’s influencers within the industry.

If this article gets you piqued about Big Data and its immense value in transforming your business, do call us at +91-80-4110-5555 or mail to info@sysfore.com.

 

Implement SAP Business One on Cloud to Reap Top Benefits

Shantha Kumari

Small and medium businesses almost entirely rely on SAP Business One for managing their business with greater clarity, including accounting & financials, sales, CRM, inventory, production, reporting, purchasing, and other operations on the cloud. Both Azure and Amazon Web Service supports this business solution.

As a certified partner of both Azure and Amazon, Sysfore can get you the best implementation of SAP B1. Check out our cloud offers on Sap Business One.

SAP B1 - Backbone of SMB and Enterprises

SAP Business One helps to have a centralized location for your company information for easy sharing between departments. This reduces the administrative costs and allows you to make informed and accurate business decisions. It allows you to streamline your end-to-end operations, gain instant access to complete information, and accelerate profitable growth.

Some of the features & benefits you can expect to see in the SAP Business One Cloud solution are:

  • Highly customizable – Since the key functions can be implemented according to your business needs, you can add additional functions as your business grows.
  • Lower administrative costs by minimizing training requirements.  It even includes hyperlinks to free on-line video training in context of the related screens
  • Lower TCO– The cloud platform enables businesses to quickly deploy SAP solutions and reduce the total cost of ownership (TCO) of running SAP systems by up to 70%, compared to traditional on-premises infrastructure.
  • Focus on OPEX instead of CAPEX– Replace the fixed capital expense for IT hardware with variable operational expense.
  • Enterprise Search– Find any data instantly due to the centralized location for all your information.
  • Improved customer relationships– A prompt and efficient customer service with focus on customer satisfaction.
  • Industry specific solutions– It has one of the largest ecosystem, which supports functionalities across various industries. There is 3rd party support for their functionalities which is built on the open and flexible architecture.
  • Focus on your business and save time– The cloud environment allows you to concentrate on your business, while the service providers will handle the IT infrastructure, hardware and software requirements.
  • Increase your bottom line– The system is integrated across modules, it reduces redundant data entry, complex or manual reporting to combine data, errors and delays.

You can contact Sysfore for implementing SAP Business One Cloud hosting for your organization by mailing us  on info@sysfore.com or call us at +91-80-4110-5555 and our experts will contact you.

Data Minimization in the age of Big Data!

Shantha Kumari

In the age of Big Data where every second feeds tonnes of data to the cloud, there is an information overload happening. Do you really require to collect all that data and store it in the hope that you will use it someday? This is where Data Minimization comes into the picture.

As businesses grow, so does the amount of data/information that it collects over the years. Faced with the challenges of storing and managing Big Data, many are realizing that storing everything is not only unviable, but also unnecessary.

Don’t get buried under the Big Data deluge. Get in touch with Sysfore’s cloud specialists and we’ll help manage your information storage through Data Minimization.

Businesses have invested millions of dollars into storage infrastructure so that they can capture every bit of available data. But as their datasets have grown, many have realized that they simply do not need much of the low level data created. More importantly, they have discovered that much of that data will never be used.

Whether they use in-house data centers or cloud archiving options, there is a cost associated to all of this unnecessary information that they hold.

What is Data Minimization?

Data minimization refers to the practice of limiting the collection of personal information to that which is directly relevant and necessary to accomplish a specified purpose.

Data Minimization - Minimizing Big Data

The deluge of information started as companies and organizations began to understand the power of data. As data becomes more ubiquitous and easy to collect, analysts are faced with a hurricane of potential data points. The impulse was to save all of it – indefinitely.

As the Internet of Things continues to grow, organizations are faced with more ways to collect data, including and especially private, personally identifiable data.

The focus needs to shift towards data minimization, where data is prioritized and unnecessary data is discarded. Instead of a “save everything” approach, data managers are now embracing a data minimization policy, keeping only what’s relevant and necessary. Even Walmart only relies on the previous 4 weeks of data for its day-to-day merchandising strategies.

Underlying Data Minimization benefits

One factor which is becoming increasingly popular among organizations is the cost and time factor involved in hoarding this excessive data indefinitely. All data storage costs money, and no business has an infinite budget to go on collecting and storing data indefinitely.

Another factor is the corporate computer security. Having too much data like personally identifiable data brings big risks. There is the risk of data loss and security breaches. A major leak of sensitive personal information can easily destroy a business or even lead to charges of criminal negligence.

Data Minimization mitigate both these factors significantly. It avoids multiple ways of storing data, thus reduces the cost of storing indefinite chunks of information. The value of the stored data decreases quickly and imagine the loss of a piece of information which is not even compatible now.

The idea of Data Minimization is going strong and it is only a matter of time these are included as standard procedures for mitigating risks.

Sysfore can guide you towards a Data Minimization approach for your businesses. For more information, you contact us at  info@sysfore.com or call us at +91-80-4110-5555.