Next generation of designers and merchants to be educated and certified on leveraging predictive analytics in making decisions on new products
December 6, 2017 – First Insight, Inc., a technology company transforming how leading retailers make product investment and pricing decisions, and the Fashion Institute of Technology (FIT), a college of the State University of New York and an internationally recognized school that prepares students for professional excellence in design, business and technology, today announced a major new initiative. First Insight and FIT have created the first-ever certification course to educate students on how to leverage predictive analytics in the design and merchandising of new products.
The partnership between First Insight and FIT was initiated in 2014, when First Insight’s predictive analytics platform was incorporated into the curriculum in three courses in FIT’s Fashion Business Management program. This new initiative, a dedicated course on predictive analytics, will be offered in spring 2018. Students will learn how to gather data and apply analytics to make better informed decisions about product design, selection, and pricing. At the conclusion of the course, students will be required to demonstrate proficiency in the use and application of the First Insight platform.
In addition to gaining practical experience in the use of First Insight’s platform, students will exit the class with enhanced knowledge of how data and predictive analytics can be used to launch new, successful products and increase gross profit margins. The certification will be recognized by First Insight and by leaders throughout the retail industry as an indication that the student is prepared to use the solution in merchandising and planning roles.
“FIT is delighted to expand our partnership with First Insight,” said Robin Sackin, chair of the Fashion Business Management (FBM) program at FIT. “Our students are the retail merchants and planners of tomorrow, and this technology will give them learning outcomes critical to success in the global fashion marketplace. Given the widespread adoption of data analytics throughout the retail industry, our students will be able to immediately apply these skills as they enter the workforce.”
“FIT students are intelligent and driven, and they recognize that success in the fashion industry comes from finding the right combination of art and science,” said Greg Petro, Founder and CEO of First Insight and a member of the industry advisory council for FIT’s FBM program. “We are excited to take the next step with FIT by creating this certification. Our goal is to help students think strategically about retail decision-making, and incorporate data and analytics into merchandising and management.”
About First Insight, Inc.
First Insight is the world’s leading provider of solutions that empower retailers and brands to incorporate the voice of the consumer into the design and merchandising of new products. Through the use of online consumer engagement, the First Insight solution gathers real-time consumer data and applies predictive analytic models to create actionable insights, which drive measurable value. Retailers, manufacturers and brands use the First Insight solution to design, select, price and market the most profitable new products for reduced markdown rates and improved sales, margins and inventory turnover. Customers include some of the world’s leading vertically integrated brands, sporting goods companies, department stores, mass merchant retailers and wholesalers. For further information, please visit www.firstinsight.com.
About the Fashion Institute of Technology
The Fashion Institute of Technology, a part of the State University of New York, has been a leader in career education in art, design, business, and technology for more than 70 years. With a curriculum that provides a singular blend of hands-on, practical experience, classroom study, and a firm grounding in the liberal arts, FIT offers a wide range of outstanding programs that are affordable and relevant to today’s rapidly changing industries. Internationally renowned, FIT draws on its New York City location to provide a vibrant, creative community in which to learn. The college grants AAS, BFA, BS, MA, MFA, and MPS degrees, and offers nearly 50 majors in fields ranging from marketing and textiles to toy design and entrepreneurship, preparing students for professional success and leadership in the global marketplace.
FIT’s special brand of education reflects the college’s close ties to industry. Top executives serve as curriculum advisors, faculty, and mentors to students; industry members and leading companies provide scholarships, internships, and support for critical FIT initiatives. Relationships with industry enable the college to offer students experiences that mirror the marketplace and give them a competitive edge. Visit fitnyc.edu.