First Insight, which provides predictive analysis for retailers, manufacturers and brands, is partnering with New York’s Fashion Institute of Technology to give its students access to its consumer-driven predictive analytics platform.
The partnership will see students in three courses of FIT’s Fashion Merchandising Management Programme at the Jay and Patty Baker School of Business having access to the latest retail technology and learning what type of data to gather and how to apply analytics to make smarter decisions about product design, selection, and price.
The move follows Fashion Insight’s sponsorship of a team of four FIT students who competed in and won the Future Retail Challenge at the World Retail Congress in Paris in September by incorporating data-backed insights into their concept of “The Smart Apartment.”
Commenting on the partnership, Robin Sackin, chair of the Fashion Merchandising Management (FMM) program at FIT, said: “Our students are the retail merchants, designers, and planners of tomorrow. Fashion is certainly about art, but it cannot exist today without technology. Our students embrace technology and understand that predictive analytics can give those in the fashion industry an edge. We look forward to working with First Insight to graduate top students who can enter the workforce with real-world experience.”
Greg Petro, CEO of First Insight and a member of the industry advisory council for FIT’s FMM program, added: “FIT students are smart, inquisitive and are looking to differentiate themselves in a competitive industry. We are excited to have the opportunity to help students think strategically about retail decision-making, and take a data-first approach to merchandising and management.”