The Fashion Institute of Technology (FIT) has partnered with technology firm First Insight on the first-ever certification course to educate students on how to leverage predictive analytics in the design and merchandising of new products.
The partnership between First Insight and FIT was initiated in 2014, when First Insight’s predictive analytics platform was incorporated into the curriculum of three courses in FIT’s Fashion Business Management programme.
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Now, a dedicated course on predictive analytics, will be offered in spring 2018. Students will learn how to gather data and apply analytics to make better informed decisions about product design, selection, and pricing. At the conclusion of the course, students will be required to demonstrate proficiency in the use and application of the First Insight platform.
In addition to gaining practical experience in the use of First Insight’s platform, students will exit the class with enhanced knowledge of how data and predictive analytics can be used to launch new, successful products and increase gross profit margins. The certification will be recognised by First Insight and by leaders throughout the retail industry as an indication that the student is prepared to use the solution in merchandising and planning roles.
“FIT is delighted to expand our partnership with First Insight,” says Robin Sackin, chair of the Fashion Business Management (FBM) programme at FIT. “Our students are the retail merchants and planners of tomorrow, and this technology will give them learning outcomes critical to success in the global fashion marketplace. Given the widespread adoption of data analytics throughout the retail industry, our students will be able to immediately apply these skills as they enter the workforce.”
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Greg Petro, founder and CEO of First Insight and a member of the industry advisory council for FIT’s FBM programme, adds FIT students recognise that success in the fashion industry comes from finding the right combination of art and science. “We are excited to take the next step with FIT by creating this certification. Our goal is to help students think strategically about retail decision-making, and incorporate data and analytics into merchandising and management.”
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