News

First Insight to provide predictive analytics for Pac Sun

January 23, 2012

First Insight recently created a partnership with Pacific Sunwear to provide the retailer with consumer-driven analytics to help it make faster and more accurate design, buying and pricing decisions, according to a company press release. The solution should reduce markdowns and mitigate risks associated with new product introductions.

"Our mission is to provide retailers such as Pacific Sunwear with a fast, scalable solution that lets them leverage customer feedback and predictive analytics to make product decisions with confidence," Greg Petro, CEO and founder of First Insight, said in the release.

First Insight's solution is designed to enable retailers such as Pacific Sunwear to:

• Evaluate a greater number of designs or products quickly, increasing speed to market
• Calibrate inventory buys based on direct consumer input and predictive analytics
• Optimize pricing and allocation strategies to maximize ROI

"In this consumer-driven economy, the need to understand customer demand is critical," Charlie Mescher, senior vice president of mens' at Pacific Sunwear, said in the statement. "After evaluating several commercial options, we chose First Insight based upon the potential of their platform's ability to provide superior speed, scalability and predictability."

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