Running Head: TECHNOLOGIES IN THE FASHION INDUSTRY
Technologies in the Fashion Industry
[Insert Name]
[Institutional Affiliation]
Introduction
The high rate of digitalization has prompted the fashion industry and market to embrace new trends of technologies. These technologies will enable the business to integrate online shopping, it will also enable effective management of inventories and their shipping, it will enable the business to provide order status and online payment processing arrangements. This will be effective way to allow the relationship between the business and the customers, management of customer contacts, providing of regular reports and management of the over-all business. Brick and Mortar is an example a business in the fashion industry that would wish to adopt this move for the benefit of both the operation of the business and its customers in effective competition with the other companies in the same industry. Such technologies include
· The big data and knowledge technology
· Intelligent systems
The Big data and knowledge technology
Refers to a system of technology which incorporates the internet clicks, mobile transaction, social media, user generated content such as sales questions and other forms of transactions. It usually needs techniques which are more powerful in launching trends and patterns. Big data vast amount of data such as the public data, private data, data exhaust system communal data and self-quantification data. It is characterized by huge quantities of stored and generated data, different varieties of the data, the speed at which data is generated to meet demand, its variability and quality of data captured (McAfee, A., & Brynjolfsson, E.,2012). Big data and knowledge has been adopted by many businesses to enable them to come up with new ideas, get updates on the emerging patterns, shapes and styles in the fashion market. This has been achieved through the social media comments, views and opinions such as those on the Facebook, Twitter and Youtube regarding new trends. This aids in better knowing of the customers, what they like and acquisition of new markets. Secondly it has played role in engaging the customers and the fashion lovers by adequate content through use of comments in an engaged session of the magazine or other platforms. This engagement has made it to highly innovative ideas and concepts. Thirdly there have emerged many experts whose role is to transform the modern digitalized fashion industry. As they have a better understanding on the trends and ideas. The technology is used by Bluefly, Zappos and Macys.
It comprises of a machine which have embedded, internet connected computer which has a capacity to gather and analyze data with a connection to other systems. In the fashion industry, it incorporates technologies such as the computer vision where it uses color, shapes, size and proportions to find identical items instead of searching for a particular word or describing it. This has provided an opportunity to easily solve customers’ problems, new ways of communication and interaction. Macys and Nordstorms have embraced this technology which has made them compete effectively with change in the new trends.
The new business should adopt the big data and knowledge management technology since it incorporates the internet clicks, mobile transaction, social media, user generated content such as sales questions and other forms of transactions. It usually needs techniques which are more powerful in unveiling trends and patterns. This will aid in more marketing of the business and compete effectively with other business in the market. As the customers are the major deciders of what they desire.
References
1. McAfee, A., & Brynjolfsson, E. (2012). Big data: the management revolution. Harvard business review, 90(10), 60-68.
2. Sether, A. (2016). Cloud Computing Benefits. Browser Download This Paper.
3. Luhn, H. P. (1958). A business intelligence system. IBM Journal of Research and Development, 2(4), 314-319.
4. Phizacklea, A. (1990). Unpacking the fashion industry. Taylor & Francis.
5. Brun, A., & Castelli, C. (2008). Supply chain strategy in the fashion industry: developing a portfolio model depending on product, retail channel and brand. International Journal of Production Economics, 116(2), 169-181.
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