Image Intelligence: the power of knowing how to understand images
As our world becomes more and more visual –more than 3 billion of images are shared everyday on internet – companies are losing critical information, mainly in fashion industry, for not understanding and perceiving images properly; which is valuable information that could help them make better commercial and marketing decisions.
If we go back in time and place before the big data outbreak, we will notice that the launch of new collections in the fashion industry were based on the cool hunters’ intuition, the designers’ creative skills and; obviously, sales data. Instead, now the industry pure plays join to the big data in order to put their eyes on social networks. For example, first, designers shared some designs in social profiles. Those designs who have more engagements will be the ones that had greater importance in manufacturing, and higher exposure in stores and campaigns. However, they could bring us more information through social networks if they were able to perceive better the images, entitling more the big data.
How to turn visual content in a powerful forecasting and customization tool:
Some advanced types of predictive analysis like artificial intelligence (AI) can help retailers improve their marketing efforts, enhance the efficiency and profitability of their campaigns and offers, and perfect sales forecasts. According to the last IBM and Accenture’s studies, the companies that use predictive analysis techniques, can increase sales in more than 73%!
The potential forecast of visual content is more than just image recognition. It’s in the image intelligence: the ability to appreciate, analyze and perceive images. In this context, Wide Eyes Technologies uses Artificial Intelligence (AI) through an exclusive API to analyze the image content and so perceive better their impact on the fashion business.
The image analysis can provide important data which is not always implied in text, from the way customers combine garments to which are the latest real trends. But as always, the power of big data lies in the objectiveness of data obtained, and above all in the interpretation skills and their uses (Business Intelligence).
Image intelligence can help brands improve the performance of marketing campaigns based on a greater association and association of customer’ interests. Imagine the ads shown on screen are a selection of garments that complement perfectly the look of the t-shirt you are seeing; or the ads’ handbag that is like what Alexa Chung wears in the photo. The possibility to wear the right article at the right time before the customers is a fact now with the predictive analysis on sales.
Nevertheless, predictive artificial intelligence also enables the identification of sales catalysts, serious risks and even innovation opportunities. For example, with the image interpretation it’s possible to perceive the increased use of red jackets in street style. Therefore, as a retailer the right choice would be to provide these articles more online and offline exposure in store at the time stocks are replenish. Thanks to Artificial Intelligence and deep learning, we can stay ahead of needs due to the possibility of foreseeing the articles customers will look for.
Image intelligence requires a combination of image recognition technology (or computer vision), analytics and most important, the predictive modeling. This combination is what will help marketers, strategy teams and; customer experience, to make more necessary and well-informed decisions.