According to a McKinsey report on data analytics in fashion, the adoption of data and analytics can
- Reduce returns by 10-15% via fit prediction
- Improve growth by 1-3% with assortment optimization
- Improve revenue growth by 4-6% using reactive, context-driven personalization capturing the short-term demand.
Brands can use either data analytics software or fashion PLM software to incorporate data analysis in their business decision-making process.
Since product life cycle management software helps you manage your entire business, from design development to shipment. They are able to provide a more up close and personal business intelligence into every element of a fashion business’s activities. These reports are personalized and easy to understand and are the perfect way for brands to increase profits, reduce waste, improve product quality and much more.
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