With the insights gained, Lift12 is able to combine the information with customer purchase history to refine and offer customers personalized fashion options. Lift12 also utilizes these tools to accurately keep track of inventory levels, ensuring that their products do not run out of stock.
This data offers Lift12 valuable insights into different areas of customer needs, and when pieced together, help the Company form a broad picture of the direction the industry is heading towards. The team also expects the amount of data that they collect and analyze to grow as more avenues of data sources are added.
“By combining the information that we have with other data that is readily available on the internet, such as color preferences and prices, we can react quickly to new trends in order to meet the ever-changing needs of our customers,” Andrew Wolf, Co-founder and Creative Director at Lift12 explained.
Lift12 used to take two weeks to analyze the data that’s been collected. This was due to the multiple formats that the data came in, which required different programs to run and interpret before being fed into the system. Lift12 needed a way to analyze data faster and more efficiently due to the fast paced nature of the industry.
“Time is money in the vibrant and changing landscape of the fashion industry. The ability to predict trends and make informed decisions, such as when to discontinue a product line and how much to stock in our various channels, could mean huge savings and profits,” Andrew added.
Feeding the need
Lift12 first heard about Tableau Software through articles published in news and technology media outlets and decided to arrange a meeting in the Singapore headquarters for a demonstration of Tableau Desktop. The demonstration highlighted significant reductions in time taken for data analysis and Lift12 came out of the meeting impressed with the user friendliness of the software.
Lift12 currently utilizes Tableau Desktop – an intuitive data analytical tool that allows drag-and-drop analysis of data. The Company is encouraging more of its employees to make use of the tool to gain diverse insights, including tracking seasonal demands.