Everchanging automotive market conditions, increased competition, cost pressure and unpredictability are leading to change the overall landscape of market. The automotive industry continues to face new challenges each day. Though it is part of any industry function, there is always an opportunity to overcome it and stand out of crowd. On the other hand, convergence of digital technologies has led to new capabilities and opportunities which seem to improve most of the automotive business such as service parts inventory management and supply chain efficiency.
Digital technology – mobility, big data and analytics, cloud computing, IoT and smart connectivity is transforming the entire system of supply chain. It has opened new horizon where automotive merchants can collect more robust data and analytics resulting into improved planning, forecasting, inventory modeling, and logistics execution. Consequently, automotive OEMs have clear vision about creating and utilizing more scientific supply chain models.
Here, we have explained about the capabilities and primary focus area that will bring more efficiency;
How Big Data & Analytics keeps Dealership a step ahead of the customer in Automotive Industry
In order to implement big data and advanced analytics effectively, it requires intense knowledge of market statistics, information technology and operational management. Mapping of this will definitely lead any business to successful implementation of Big Data. Let’s see how?
● Optimize operations – Data analysis at regular interval is now possible with the help of advanced data analytics and high-end computing hardware. The smooth operations and quick decision making adds value to the growth of business. For example, in many certain cases, car manufacturers and dealers do not have a clear understanding of how well spending on consumer-facing program works. With advanced analytics, it enables manufacturer to get the clear picture through insights of its and its dealer’s spending effectiveness so that they both can then allocate marketing spend to the best performing channels.
● Improve the quality of services – Big Data analytics prompts to generate a real business value through data analysis and processing. The capacity to accommodate more data, run analysis on it and ability to deliver faster brings great opportunity to improve services. Further the customer segmentation and segregation, works as an add-on that are tailored products or services including seemingly simple actions, such as sending systematic service reminders and offering complimentary services like car washes.
Get a Free Consultation of your Automotive IT Needs
● Timely response – Predictive analytics to anticipate real time needs of service part in supply chain, gather point of sales (PoS) information from dealer and transactional data on a daily basis to provide timely response to the arising demand. Predictive analytics capabilities available today allows quality issues to be detected and decisive action taken early on or prevented from happening altogether. This in turn provides an improved ability for quality management teams to better manage both customer satisfaction and customer concerns.
● Customer connect – Direct customers better sense and respond to customer’s queries or concerns occurring in the vehicle. Direct connection with customers to understand which vehicles are most favorite in the market. Customers feedback over social media helps to identify their common problems with their vehicles.
The demands of the digital age require a new way of managing dealership working together with manufacturers. The sooner they improve collaboration to enhance competitiveness and deliver more value to the customer, the greater their chances of winning the digitally-fueled retail race.
Gateway has been an active player in the automotive services industry for more than a decade. Our continuous investment in emerging digital technologies to provide cutting edge solutions have brought us opportunity to work for leading automotive players as clients.
Realize your digital enterprise journey with us. Get the right business consulting service that increase business agility, lower your expenditures, improve accessibility and enhance your core competencies.
