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Big Data is Big Business

data

2018 isse
The beauty industry is dialing into data to help brands and industry professionals make informed decisions. Moving ahead and remaining relevant in order to shift beyond the competition is of the utmost importance in today’s modern age. By using data and insights, brands can model their business to reflect changing needs. The Professional Beauty Association (PBA) is partnering with different resources to advance government advocacy, certification, and licensing to help the industry. Data is providing insights to better understand who is coming in and leaving the industry, the true earning potential of professionals working behind the chair, and the education and training of future cosmetologists.

Data is everywhere and it is the wave of the future. Kline Pro has recently launched a program called Amalgam, in collaboration with the PBA. It’s a one-of-a-kind powerful online tool that helps you track all the best-performing companies, brands, and items across the leading digital beauty retailers.  The database produces the latest sales performance data on the salon industry based on transactional data collected from a panel of thousands of independent and chain salons. According to the Kline Group website, “[Amalgam] is based on the continuous collection, aggregation, and blending of data from approximately 20 leading retailer websites, this new interactive online service uses a proprietary algorithm to score beauty products based on their ranking among best-selling product listings, customer ratings, prevalence, and duration on the charts.” This could have an astounding impact on a brands ability to reach their most lucrative audience and target their sales efforts to be efficient and successful. That’s an edge all companies could use and something we will be seeing more of as the industry is able to capture more data like this and make it available to brands.

Want to learn more about Amalgam? Click Here

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