FTF 2017 White Space Gallery – Trendalytics
Sometimes, the cliches are true. While the most talented and prolific minds in fashion are able to navigate creative endeavors as intuitively as they are the logistical issues inherent in running a business today, that’s not always the case. Thankfully, there are companies built on doing a lot of the heavy lifting to fill that knowledge gap. Among them: Trendalytics.
Co-founded by the company’s CEO Karen Moon and CTO Kevin He, Trendalytics is a big data platform created specifically for creative organizations. Put simply, it aggregates billions of consumer demand signals in order to take the guesswork out of merchandizing. And while it’s certainly a helpful tool that allows creatives to do what they do best, it can also be used to provide even the most seasoned data analysts with the kind of instant insights that would otherwise demand a huge time commitment.
“The mission of Trendalytics is to empower creative teams with data in order to reach their full potential,” Karen explains to FTF. “One of the biggest misconceptions around analytics is the fear that it diminishes or replaces creativity. In fact, it is the opposite. We have found with many of our clients—creative teams such as design, merchandising and trend—are empowered by data and analytics. It emboldens them to take risks, validates their gut instincts and provides a lens into the mind of the consumer.”
It’s no wonder, then, that Trendalytics clients include industry stalwarts like Ralph Lauren, Saks Fifth Avenue and Revolve. The New York-based company is equally effective for young companies, as well. “There is no ‘wrong’ time to invest in data,” Karen says. “The fastest growing, most disruptive consumer brands have data in their DNA: Rent-the-Runway, Stitchfix, Bonobos, Glossier. Whether at your company’s inception or in its growth, integrating data into your everyday workflow is essential to long-term success.”
The Trendalytics story is itself just beginning, too. “We see Trendalytics growing into an end-to-end forecasting and analysis platform that can not only process and evaluate external consumer signals, but do so in concert with our clients’ internal sales data,” Karen adds. “Our software will surface recommendations on business opportunities that would be humanly impossible to provide at scale. The core of our technology is powered by machine learning and AI, which will only get better with time.”
For more on Trendalytics, be sure to visit them in the White Space Gallery at Fashion Tech Forum on October 6 in Los Angeles or head to www.trendalytics.co for more information.
