Dive into the intersecting worlds of data science and fashion retail! In this episode, Vivek Anand, Director of Advanced Analytics at Gap, joins host Erin Pearson to discuss applying data analytics to the retail industry. Gap is a renowned worldwide clothing and accessories retailer.
Vivek and Erin delve into a myriad of topics, including:
- The complexities of demand forecasting in the fashion industry.
- Identifying emerging trends using user-generated data such as search queries.
- Vivek’s experience in creating innovative, data-efficient, yet highly effective AI-driven pricing models across multiple industries.
- The significance of dynamic pricing strategies and methods to discourage team members from engaging in aggressive price undercutting.
- The need for collaboration across departments.