In 2018, we (officially) called them geniuses.
Today, we proudly congratulate our Analytics team for earning again the national spotlight of the ANA Genius Award and for local recognition as AMA DFWâ€™s Marketer of the Year for innovation and research.
In other words…theyâ€™re on to something (good).
Damian Fernandez Lamela and Deepa Iyer accept the 2018 ANA Genius Award for Data Analytics Growth
â€œThey,â€ are a small but mighty team of data masterminds using scientific resources to uncover critical insight into the ever-changing landscape of consumer interest. Working closely with product design and merchandising teams, our Analysts seek not just to discover but to make data actionable. Regardless of challenge or endeavor, theyâ€™ve made their mission clear: go humbly, stay curious, look honestly and strive to inform the smartest step forward.
Turning Insight Into Action
This yearâ€™s unprecedented circumstances have put product appeal in even higher demand, necessitating more innovation, and a new research objective: track fashion trends and perception on a global scale and create a quicker connection to that feedback.
For this, the team turned to AI, training it to identify product characteristics, and developing a natural language processing algorithm. The result? Nearly two dozen unique â€˜clustersâ€™ of key trends emerged, insights that were used to inform and accelerate processes toward meeting specific consumer preferences, quickly and efficiently.
Beyond meeting the objective, this cutting-edge approach positions future research on added benefits. Observable trends can be prioritizedâ€”holding perennial ones in focus while sitting at the forefront of new ones. The research can also wear a more global hat, given the ability to hear independently and be more present from region to region. Most importantly, this process creates a pathway for an essential voice to join the design process: consumers around the globe.
â€œThis consumer-first, AI-driven approach has allowed us to organically learn from our customer and deliver breakthrough watch styles much faster to the market.â€Deepa Iyer
Paying it Forward
This is Fossil Group’s third AMA title and second Genius Award. Finalists were ‘selected by a panel of industry experts representing top brands and platforms, consultancies, agencies and academia.’1 Along with recognition for outstanding work, the company joins leading brands (such as Sam’s Club, Zillow and Longwood Gardens) in splitting a $100,000 prize pool, to be donated to charities of choice.
Truly demonstrating our commitment to leverage our one-of-a-kind skills to be a force for good, the team is delighted to forward their portion of winnings to Fossil Group community partner (and DFW’s leading no-kill shelter) Operation Kindness.
1 via Neustar