Fashion Marketing Agencies Lead the way with Business Intelligence

Business Intelligence (BI) is becoming a widely useful tool across the fashion industry for collecting, storing and analysing past and present data of an enterprise. For smaller fashion companies without data analysts or tech experts, it can be difficult to manage the BI processes that are necessary for the company such as cleaning the data and making it visually presentable to the team in a very effective manner.

Group Fashion Digital Marketing Agency

What is Business Intelligence?

Business intelligence can be defined as the usage of  ‘decision support technology for the enterprise aimed at enabling knowledge workers, such as executives, managers, and analysts, to make better and faster decisions’ (Davenport, 2006). If you are interested to know how you can lead your fashion business with business intelligence then keep on reading!

Buy Vs. Make Decision

Every company faces the 'buy vs make decision' on whether to do digital marketing in-house or outsource it to a digital marketing agency. Many businesses are sceptical of choosing to outsource their marketing and one reason may be due to the fact that the company doesn't believe that the agency has specific enough knowledge on their industry or area of work. The truth is that agencies are heading towards real-time delivery models that are built into their workflow (Skyworld, 2012).

At ‘Group Fashion’, the mission is to clean the client's data and present it on a real-time dashboard accessible to the client at any moment. The agency specializes in the fashion industry and uses BI to do the dirty work that you never have to see. The only job of the client is to draw conclusions on the visualized data presented by the agency. The north star metric of Group Fashion is similar to Netflix in that they want to help you make an informed decision in less than 60 seconds from what is presented on your dashboard.

The Business Intelligence Direction

Analyzing shopping behaviour, increasing brand loyalty, enhancing the shopping experience, and providing a degree of personalized shopping experience are all areas that can be improved through the use of business intelligence. At the end of the day, companies want to keep their customers for as long as possible and increase sales. For more information, see how BI helps fashion companies optimize their channels.

Fashion companies that are struggling to implement business intelligence effectively into their business are gradually losing their competitive edge. Fashion enterprises can gain a competitive advantage by adopting BI and using it in their business. This statement is supported by previous researchers which stated that a company's application of business intelligence is a potential source of competitive advantage and provides a specific competitive weapon (Elbashira, Collierb & Davern, 2008).

If you require a digital marketing solution to help you improve your organisation and efficiency for your fashion brand, contact GroupFashion. Save time, money and stress by finding the best way to manage your brand.

Keywords: business intelligence, fashion, data

References

Davenport, T.H., 2006. Competing on analytics. Harvard business review, 84(1), p.98.

Elbashir, M.Z., Collier, P.A. and Davern, M.J., 2008. Measuring the effects of business intelligence systems: The relationship between business process and organizational performance. International journal of accounting information systems, 9(3), pp.135-153.

Skyword (2012). The Digital Agency of the Future: New organizational structure, Skill & Technology Infrastructure (Available online) https://coolresourcesblog.files.wordpress.com/2016/02/21-resource_digital-agency-of-the-future-report-skyword1.pdf p. 10 (Last accessed: 06/02/21)