To do so, the online fashion community will be crunching user-generated data to roll out analytical tools for designers and retailers. Think Quantcast or Compete, but for the fashion industry.

The beta tool, called Style Analytics, will be free and openly available to anyone on Polyvore’s Web site. It’s expected to launch officially tomorrow afternoon.

The data points are coming from its community of users, who create virtual outfits–or what they call “collages” of clothing–by mixing and matching shirts, pants, dresses, shoes, skirts and accessories from around the Web.

Jess Lee, Polyvore’s co-founder and head of product management, said it will show what’s trending, so brands can make better decisions. Specifically, it shows how consumers associate your brand, for instance, with Abercrombie & Fitch or Juicy Couture.

“The fashion industry, from designing to merchandising and marketing is inefficient and not data driven,” she said. “Our goal is to open it up and make it more democratic and more data driven.”

The Mountain View, Calif.-based company has raised about $8.7 million in venture capital since 2007. Each month, its two million registered users create one million collages that generate 140 million page views.

BoomTown always enjoys trying to come up with monetization ideas for Twitter, especially since the boys over at the hot San Francisco-based microblogging service seem so charmingly uninterested in it.

Some of my brainstorms: Charging media pundits a microfee every time they say Twitter; Snuggie-Tweet, a wearable Twitter-branded device and fleece blanket outfit that vibrates every time you get tweeted; a twit-on-twit-off light switch called the Tweeter; and, of course, the Chia-Twit.

I have obviously inspired Dustin Diaz, a Twitter user interface engineer, who tweeted this fine idea yesterday:

“idea: Twitter Juicy Couture pants that say ‘follow this’ across the butt.”

Genius! It could be a whole fashion line, which could then move into a broad range of “follow this” accessories.

Here’s an image of the said Diaz tweet (click on it to make it larger):