Sports car or family vehicle, electric or perhaps convertible: Car buyers have an enormous variety of models and accessories to choose from, and this is without even factoring in customization and personalization options. What they decide depends on numerous factors, region, culture, climate, age, and individual preferences. Of course, the end customer is most satisfied when the vehicle they want is available directly at the dealer and they do not have to wait months for delivery.
Ultimately, the question for car dealers remains the same: Which products do they need to have in stock—and in which configurations—in order to meet consumer demand? Ideally, dealers should know today what buyers will want tomorrow. If dealers have access to a “crystal car ball”, they can leverage market potential, generate more sales, and minimize warehousing.
Using One Data, our customer built a virtual build to order data product that accurately predicts configurations based on consumer demand. It indicates customer preferences and forecasts potential orders across markets. It links divergent company and customer data, including a customer’s internet configuration and sales history from dealers, all of which are automatically analyzed—powered by AI. The data product generates a pre-configured order that dealers can decide to initiate at the touch of a button. This reduces the need for manual forecasts and allows dealers to more accurately determine what cars to order based on historic sales data. All of this results in 13% increase in sales in add-ons and equipment, 3% higher planning accuracy and higher customer satisfaction. Discover the potential of such data products for your organization!
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