Product Overview of Heuritech
Heuritech is a cutting-edge fashion technology company that specializes in predictive analytics for fashion trends and products, leveraging advanced artificial intelligence (AI) and machine learning techniques.
What Heuritech Does
Heuritech translates real-world images shared on social media into meaningful insights, enabling fashion brands to forecast demand and trends accurately. The company’s AI technology analyzes millions of social media images and videos daily to provide comprehensive market insights, helping brands to produce more sustainably, reduce overstock, and gain a competitive advantage.
Key Features and Functionality
Data Collection and Analysis
- Heuritech’s proprietary technology scans over 3 million social media images and videos each day, detecting and categorizing more than 2,000 fashion details such as colors, textures, patterns, prints, shapes, and attributes.
Audience Panels
- The process begins with defining representative panels on social media, including fashion-forward influencers and mainstream consumer segments. These panels are selected based on criteria such as regular posting and representation of different style segments.
Computer Vision Technology
- Heuritech’s computer vision technology is tailored to fashion, allowing it to detect and categorize various fashion components within images. This technology provides an unbiased and quantifiable overview of market behavior.
Forecasting Methodology
- The forecasting process involves four key steps:
- Define Audience Panels: Selecting relevant social media accounts.
- Apply Computer Vision Technology: Analyzing images to categorize fashion details.
- Use Machine Learning Forecasting Algorithms: Predicting future trends up to 24 months in advance with high accuracy (up to 90%).
- Insert Data into Market Intelligence Platform: Providing actionable insights within a personalized platform.
Market and Product Insights Platforms
- Market Insights Platform: Allows brands to analyze the predicted visibility growth of various fashion details, compare forecasts in different geographic areas, and gain insights from fashion experts on emerging trends and brands.
- Product Insights Platform: Provides data on brand adoption among the target audience, product performance (visibility, scope, and desirability), and comparative analysis with competitors.
Benefits for Fashion Brands
- Optimize Collection Strategy and Launch Timing: Brands can make informed decisions about their collection development and launch schedules.
- Improve Inventory Management: Reduce overstock and waste by identifying declining trends and optimizing markdown strategies.
- Support International Growth: Understand local market specificities and discern differences in top products and consumer adoption.
- Foster Data-Driven Decision-Making: Promote a culture of data-driven decision-making among employees and enhance cross-team collaboration between creative and analytical teams.
Additional Capabilities
- Heuritech’s technology also supports sustainable production by helping brands produce only what is in demand, reducing the amount of unsold products.
- The company serves a wide range of clients, including luxury, sportswear, and mass market brands such as Louis Vuitton, Dior, Moncler, Adidas, and New Balance.
By leveraging AI and machine learning, Heuritech provides fashion brands with the tools they need to anticipate market demands, make informed decisions, and stay ahead in the competitive fashion industry.