Action sports retailer Pacific Sunwear of California is extending its use of a software tool that helps it make faster and more accurate decisions on new product selection and pricing.

The predictive analytic solution from First Insight has already provided the retailer with "a level of speed, scalability and predictability," according to Craig Gosselin, SVP and general counsel of Pacific Sunwear.

The tool engages consumers through online social engagement tools to gather real-time data on new products. This data is then filtered through First Insight's predictive analytic models to determine which products present the greatest opportunity.

The goal is to reduce markdowns and mitigate risks associated with new product introductions by providing guidance on thousands of new products and designs.