NEW YORK, Dec. 9, 2020 /PRNewswire/ -- A team of all-female business students from the Fashion Institute of Technology took third place in the Adobe Analytics Challenge 2020, an annual phased competition for teams of undergraduate and graduate students. Using Adobe Analytics products and access to real-world data, the teams compete to build business recommendations for a leading global brand. This year's brand partner was Nike and, for the first time, the competition expanded beyond the United States, attracting more than 1,600 teams from around the world.
During a presentation held on November 17, FIT's team was awarded the third-place prize of $6,000. The team comprised seniors Muskaan Arora, Joyce Ishikawa, and Sofia Simoniello, all of whom are pursuing degrees at FIT in Fashion Business Management, the largest and oldest degree program of this kind in the country, offered through the Jay and Patty Baker School of Business and Technology.
Utilizing the Adobe Analytics platform, the students worked over the course of several weeks to analyze web traffic and marketing segments, as well as customer journeys across touchpoints like apps and eCommerce. Teams competed virtually before an expert judging panel, presenting recommendations on how Nike could improve sales.
FIT's team created a consumer segmentation funnel to identify the most engaged consumers, and drew up profiles of those customer types to make their analysis more concrete. Their recommendations included offering a limited-time promo code at checkout to give buyers a sense of urgency, and personalizing the app experience to encourage loyalty. For each recommendation, they appended a projected sales increase.
"I believe that what made our presentation stand out was the approach we took when analyzing the data," said team member Simoniello. "We segmented customer behaviors in different profiles and were able to discover amazing insights. When thinking of recommendations for business improvement, we kept the customer in mind and how the customer journey would be affected. I am also confident that our fashion business background played a key role in our analysis."
Maria Hwang, professor of Computer Science at FIT and contest mentor, added: "The experience of mentoring the students was an incredible journey, and I am hoping more opportunities like this will encourage FIT students to challenge themselves and not be afraid of entering such competitions, as they are not reserved only for those who have been trained in the traditional sense for data science and analytics."
Two rounds of judging narrowed submissions down to six finalist schools, which were challenged to uncover deep data insights around the customer journey and provide data-backed recommendations, with the aim of reimagining the customer experience online using Adobe Analytics. The top prize was awarded to the Indian Institute of Technology (Delhi); second place went to UCLA'sAnderson School of Management. Other finalists were from major research institutions such as the University of Chicago's Booth School of Business, the National University of Singapore, and the University of Utah.
The judging panel was composed of Emily White, vice president, Enterprise Data and Analytics, Nike; Daniel Vredenberg, lead product manager, Digital Product, Nike; Anurag Singhvi, senior director of Customer Analytics, Flipkart; Sylvester Obafunwa, director, omnichannel analytics, Academy Sports + Outdoors; and Hila Dahan, co-founder and COO, 33 Sticks.
About FIT A part of the State University of New York, FIT has been a leader in career education in art, design, business, and technology throughout its history. Providing almost 9,000 students with an uncommon blend of hands-on, practical experience, theory, and a firm grounding in the liberal arts, the college offers a wide range of affordable programs that foster innovation and collaboration. Its distinctive curriculum is geared to today's rapidly growing creative economy, including fields such as computer animation, toy design, production management, film and media, and cosmetics and fragrance marketing. Internationally renowned, FIT draws on its New York City location to provide a vibrant, creative community in which to learn. The college offers nearly 50 majors and grants AAS, BFA, BS, MA, MFA, and MPS degrees, preparing students for professional success and leadership in the new creative economy.