Rue21 boosts consumer analytics capabilities with First Insight
today Nov 7, 2018
With an increasing number of brands looking to consumer analytics to drive their strategies, Warrendale, Pennsylvania-based casual apparel retailer Rue21 announced on Tuesday that it has used the University of Liverpool’s “action learning” methodology to apply First Insight’s analytic technology throughout its business.
The retailer first began working with First Insight in March, aiming to integrate consumer-driven predictive analytics into its organization in order to inform decisions regarding design, buying, planning and pricing.
First Insight uses online social engagement tools to gather real-time data concerning customer preference and sentiment in relation to potential product offerings. This information is then processed by First Insight’s predictive analytic and machine learning models to give companies a clearer idea of which products will be most attractive to consumers.
Thanks to the use of action learning, Rue21 was able to fully adopt the solution provided by First Insight within three months.
Action learning is a kind of organizational learning that focuses on experiences and actions, while also encouraging collaboration in the corporate setting.
The methodology was developed at the University of Liverpool, and was introduced to Rue21 by Chief Analytics Officer Mark Chrysal, who graduated from the UK educational institution’s Doctorate in Business Administration program.
“Too often organizations take a top-down approach when trying to integrate new solutions into the company,” Chrysal said in a press release, going on to explain how action learning gives a “voice to every individual” in a company.
“Organizational adoption of the First Insight technology and its incorporation into our business processes has been instrumental in improving our business performance,” he added. “We have already seen margin improvements of up to 600 basis points on the products we have processed through the First Insight platform.”
The retailer’s announcement comes as effective use of consumer analytics cements itself as an essential tool for ensuring a company’s growth.
Just last month, NYC’s LIM College revealed that it will be introducing a Master of Science degree in Consumer Analytics in fall 2019, while fashion e-tailer Yoox recently launched a private label that uses patented AI tools to process data from online content and social channels in order to inform design choices.
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