How can you find your place as a data scientist in the fashion industry?
Are you deeply analytical yet intrigued at the prospect of working in a creative industry? Can you ever imagine being able to find a job where you can crunch numbers for a glamorous career sector? Being a fashion data scientist can allow you to combine your passion for data science and fashion.
Akin to any other industry, data science applications have found a stronghold in the global fashion industry and are creating new career opportunities.
Let’s dive into how data science has impacted the sector and how an MSc in Data Science at GISMA can help you build a career in the fashion industry.
How is data science trending in the fashion industry?
Artificial intelligence and data science have ceased to be buzzwords in the fashion industry. Instead, these concepts are revolutionising different business operations in the global fashion domain and transforming the customer experience.
Here are four ways in which data science is making a big impact on fashion businesses.
- Predictive analytics in the fashion industry
In the past, fashion businesses have largely relied on manual scrubbing of previous sales data to guide their product decisions. Sales data from previous seasons would influence product designs, customer distribution models and even product pricing.
The implementation of AI-based trend forecasting has changed the game altogether. Data scientists are helping product designers build better customer intuition to come up with desirable products.
- Artificial intelligence and trend recognition
Decision-making in product design and pricing aren’t the only thing to be revamped by data science applications. AI is also making it easier to predict fashion expectations and needs among customers in advance and capitalise on different fashion trends.
Fashion businesses are investing in AI technologies like image recognition that can recognise budding fashion trends even before they become relevant or mainstream. This way, businesses can come up with product interpretations of the trends and stay relevant in the market.
- Data analytics and brand positioning
Brand positioning is particularly important for businesses in a competitive industry like fashion. Thankfully, data analytics applications are helping them solidify their presence in the market and customers’ minds.
Different data analytics algorithms let designers know which products are doing well in the market and which are failing. This way, fashion businesses can avoid styles that are losing customers and choose the ones that are gaining desirability from the target audience.
Other notable AI and data science applications in the industry include matching customer expectations through Big Data and identifying influencer allies who can boost brand recognition.
How can you go about achieving a data science position in the fashion industry?
With the growing data science and analytics applications within the fashion industry, you can expect the number of data science roles in this sector to multiply in the coming years.
A relevant data science programme can provide you with the requisite domain knowledge and data science skills that you need to acquire and succeed in a well-paying role. A data science programme focusing on digital businesses can provide you with a further perspective of data science applications in the fashion sector.
What kind of skills are expected from a data science professional in the fashion industry?
Data scientists have some of the most technical and complex roles within the fashion domain. Therefore, you need to display a lot of technical and non-technical skills to be able to do your job as a data science professional.
Fortunately, well-designed data science and machine learning programmes can have your back. A good data analytics programme can impart all the relevant industry and technical skills you need for a data science role in the fashion industry.
Here are some of the top skills you can expect to receive from your data science course.
- Statistical analysis
- Deep learning
- Data wrangling
- Data visualisation
- Programming skills
- Ability to work with unstructured data
- Strong business acumen
- Good communication skills
- Reasonable data intuition
What else can a master’s in data science, AI and digital business provide you?
Extensive domain knowledge of digital businesses and career prospects aren’t the only benefits of investing in a good data science programme. You can also expect to gain the following benefits from a relevant course.
- Great career progression opportunities
- A good amount of job security
- Immense career diversity
- Ability to understand most data science applications
- Improved problem-solving skills
- A chance to be updated on the latest tech trends
What kind of career prospects can a master’s in AI and data science offer you?
A data science background can bring you career success even in a creative industry like fashion. According to a recent Business of Fashion estimate, 75% of fashion retailers can be expected to invest in data science and artificial intelligence (AI) infrastructure. The same report predicted that the expenditure on Big Data efforts in the industry could reach over $250 million by 2024.
With an online master’s degree in data science in your resume, you would be eligible for a wide variety of interesting roles in fashion. Here are a few worthy examples.
- Senior scientist for inventory operations
- Fashion market analyst
- Fashion data scientist
- Fashion business analyst
- Customer data specialist
- Market researcher
- Fashion brand analyst
A good master’s in Germany in data science can be useful even if you decide to switch careers from the fashion industry to a different domain. You will receive sufficient transferable skills which can make your career switch seamless.
The GISMA Business School in Germany offers a great MSc Data Science, AI and Digital Business programme that can be ideal for you. The course offers a unique mixture of business and technology subjects which can give you a competitive career advantage in fashion or any other industry.
This postgraduate degree will help you gain expertise in different data science and AI subjects, as well as general managerial expertise and business skills. The skills you gain from the course will allow you to lead digital transformation efforts in any fashion retailing or garment production company.
In addition, you will also benefit from the student diversity in the GISMA campus and close access to Berlin’s business hub. You can gain the opportunity to spend a semester abroad in leading tech hub cities like London or Singapore.
You can look through other USPs of this data science programme at GISMA by clicking here.
Frequently asked questions
Question 1: How much can I earn as a fashion data scientist?
A fashion data scientist can be a lucrative career role for any data professional. According to Payscale.com, an average data scientist in the retail sector can earn around €55,085 each year.
Question 2: Can I start my own fashion business after an MSc in AI, machine learning and digital business programme?
Yes. The data science and digital business programme at GISMA can provide you with sufficient business and management expertise in addition to knowledge in data science applications. This way, you can manage any online fashion business and use data science applications to grow it further.
Question 3: Will GISMA help me in getting an appropriate data science role?
Yes. GISMA has a dedicated Career Centre that offers you a wide range of placement assistance. You can seek help in refining your resume and finding contacts within the data science industry in Potsdam or Berlin.
Question 4: Why should I think about pursuing an MSc Data science in Germany?
Germany is renowned for its technological prowess and digitisation efforts throughout the world. German universities are also known for providing high educational standards and multiple networking opportunities. Therefore, a data science programme in Potsdam near the German capital of Berlin can only enhance your career prospects in the data science sector.
– This blog was written by Sweha Hazari.