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Decoding Retail Data with Vivek Anand
Manage episode 378814522 series 3314042
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Dive into the intersecting worlds of data science and fashion retail! In this episode, Vivek Anand, Director of Advanced Analytics at Gap, joins host Erin Pearson to discuss applying data analytics to the retail industry. Gap is a renowned worldwide clothing and accessories retailer.
Vivek and Erin delve into a myriad of topics, including:
✔️ The complexities of demand forecasting in the fashion industry.
✔️ Identifying emerging trends using user-generated data such as search queries.
✔️ Vivek's experience in creating innovative, data-efficient, yet highly effective AI-driven pricing models across multiple industries.
✔️ The significance of dynamic pricing strategies and methods to discourage team members from engaging in aggressive price undercutting.
✔️ The need for collaboration across departments.
📌 Quote from the Episode:
📣 "People think that, hey, machine learning, AI is coming to replace me. It's taking my job. The idea is to convince or let people see that it's there to make your life easier. You spend most of your time on the most complex problems. If you have vanilla problems, you can just rely on the machine to do it for you. So, it's trying to help you. It's not trying to replace you." – Vivek Anand
📌 Speakers in this Episode:
🎙️ Erin Pearson, Vice President, Marketing at Evalueserve
🎙️ Vivek Anand, Director of Advanced Analytics at Gap
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Vivek and Erin delve into a myriad of topics, including:
✔️ The complexities of demand forecasting in the fashion industry.
✔️ Identifying emerging trends using user-generated data such as search queries.
✔️ Vivek's experience in creating innovative, data-efficient, yet highly effective AI-driven pricing models across multiple industries.
✔️ The significance of dynamic pricing strategies and methods to discourage team members from engaging in aggressive price undercutting.
✔️ The need for collaboration across departments.
📌 Quote from the Episode:
📣 "People think that, hey, machine learning, AI is coming to replace me. It's taking my job. The idea is to convince or let people see that it's there to make your life easier. You spend most of your time on the most complex problems. If you have vanilla problems, you can just rely on the machine to do it for you. So, it's trying to help you. It's not trying to replace you." – Vivek Anand
📌 Speakers in this Episode:
🎙️ Erin Pearson, Vice President, Marketing at Evalueserve
🎙️ Vivek Anand, Director of Advanced Analytics at Gap
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