How Data Science Is Impacting Beauty Industry
The way we see it, the future is all about data science and machine learning operations. So, why should the beauty industry not benefit from the change and advancement data science brings to it.
Who would have thought without applying or touching the face, one could figure out what shade of foundation works well with the skin tone.
Data scientists are working on ways Artificial Intelligence can revolutionize the beauty industry. Bring a more personalized experience for the consumer, even on a salon scale.
With the help of data, now manufacturers know:
- What fragrance combinations will be a hit without testing.
- The right pigment for the skin tone according to age, ethnicity, and structure.
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Hence, there is a major shift for consumers who are looking for a more personalized shopping experience instead of settling for generic products.
Importance of Data Sciences for Beauty Industry
Data sciences have helped the beauty industry analyze the trends to strategize new campaigns.
High-end brands like L’Oréal, Coty, and Procter and Gamble have no room for mistakes with a supply chain that ranks ninth worldwide—reaching over 190 countries.
Fortunately, the target market is Gen Z, and this segment of society is big on internet use. Therefore, their feedback, interest, and behavior are easy to collect.
Big Data for Beauty Industry
Like all fields, big data is helping brands optimize all processes. The data collected is used to improve the overall user experience, from package design to product development, and marketing.
To analyze big data, companies are deploying ModelOps. It helps analyze lab results, experiments, imaging, and raw data for the benefit of product development.
Furthermore, it helps in opportunity analysis, audience targeting, and managing operations. Here are a few examples of how brands are using big data for the benefit of products:
- Charlotte Tilbury identified the scope for their product outside the United Kingdom. They planned an expansion in the Atlantic with the advantage of big data.
- L’Oréal develops innovative ranges and products after analyzing cloud data.
- Trends and consumer behavior help pick up upcoming beauty trends in the West and Korea.
Data Science for Customization
Every person has different preferences in a product according to their skin or hair needs. The trend picked up relatively late in the beauty industry.
Ideally, it should have emerged when the world was getting their burgers and frozen yogurt customized or, as they say, “have it your way.”
Research conducted by Forrester revealed that 77% of the consumers are willing to pay more than normal for a customized product.
What works for a person’s hair will not work for the next person. But examining machines identifying the right custom-made shampoo for hair elevates the user experience.
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It is one step ahead in consumer satisfaction in the beauty industry.
ML ops and Verta machines are excellent tools for eliminating frustrations surrounding stereotyping. For instance, in search of the right foundation, my skin tone requires something between shade 5 and 6.
In such cases, customized experience helps consumers attain what they are looking for without settling for standard. Also, it will help brands identify the gaps in the beauty industry and address them for consumers.
Algorithm and Machine Learning for Consumer
Algorithms are a wonderful innovation. They can be tweaked, analyzed, and improved with the help of data.
Recently, the use of tools to analyze characteristics has amplified the results. By examining the state of hair or skin, beauty brands can analyze the precise condition.
With that information, the brands can create the perfect skincare, haircare, makeup, or emollient to compliment the skin or hair.
The software remembers the user's progress. With that information, it helps create the product in continuation for maximum results.
Machine learning can enable brands to identify the areas of improvement in a product. Chatbots utilize personalized data to filter relevant content through the sales funnel.
The consumer can interact directly with the brand, and also, provide feedback on the product and its availability.
In this way, brands can work on the areas of improvement to meet the needs of the diverse consumer-base.
Interactive Visual Software
Various high-end brands are now equipping their stores for a perfect consumer experience. Interactive Visual Software is unique and gives the ultimate ease of selection.
For instance, when buying lip color, one needs to keep trying swatches after swatches on hand and lips to see which shade works best with skin tone. It has always been a cause of waste of resources for brands. Also, testers are used among various consumers hence deemed unhygienic.
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The software takes a picture of consumers. It helps them identify what shade works best without touching the product.
The visual representation is the ultimate gift for consumers in making a buying decision.
Technologies That Will Transcend
For the last five years, technologies like customization and 3D printing have impacted customer experience unsurpassed.
The experience of creating lip color, customized fragrance, and printing the face mask that fits on your face was unimaginable.
On the other hand, companies are investing and experimenting on ways to combat skin damage by UV rays using sensors. These help in assessing the damage to the skin.
With the right assessment, companies can formulate just the right sunscreen for various skin types and ethnicities.
Even more impressive is how research on the microbiome will open doors to treating aging and its early signs. With the right ingredients and tools, brands can go one step ahead to fight this issue.
Future of Beauty Industry
The beauty industry is at the arc of revolution. Yet, companies have various segments to analyze and address inconsistencies.
Using data and trends as information, brands can reach more gaps in the customer base. For example, there are considerable gaps in male personal care, representation of children, and the aging population.
Moreover, growing interest in using natural ingredients and homemade products over high-end brands is trending. These factors will help brands identify how to create and market the products.
It will help the old and indie brands build their positive brand image and compete in the market.