Data utilization for automobiles is nowhere near its fullest potential
Data collection started in the automobile industry decades ago with GM’s OnStar’s infotainment interfaces. Today’s Teslas are data producing machines that track a car’s every movement, generating accurate roadmaps for tomorrow’s self-driving cars. Data is driving cars and the automotive industry.
Analytics, artificial intelligence, and machine learning can optimize production planning, scheduling, inventory control and supply chain logistics to optimize an automobile manufacturer’s business. Analytics can help on every step of the automobile manufacturer’s journey – from product development to supply chain visibility to manufacturing, then onto marketing and sales.
Digital interfacing is revolutionizing the way automobile manufacturers are connecting with their customers and potential customers. 24/7 connectivity, social media, instant messaging apps, the IoT, 5G, and real-time marketing is radically altering the traditional dealer model and allowing car manufacturers to make the buying experience more satisfying.
The global automotive artificial intelligence (AI) market size was estimated at USD 2.9 billion in 2021 and is projected to reach USD 19.1 billion by 2030, registering a CAGR of 23.3% from 2022 to 2030.
Cars of the future will be connected to mobile devices, intelligent, and autonomous. Vehicle-to-vehicle communication requires intense computational power and lots of data. The integration of the cloud in the automotive industry will revolutionize product development to go beyond the considerations of just the user. Vehicles of the future will use data to self-configure to a driver’s preferences, avoid collisions, and reduce traffic congestion.
Advanced supply chain analytics tracks the real-time movement and assembly of parts and people. Vehicle parts and employee tracking allows for safer, more efficient transportation and deployment of capital goods. Reducing bottlenecks in the delivery of parts ultimately reduces holding and carrying costs.
Manufacturing analytics focuses on collecting and analyzing data to provide data-driven key performance indicators. Manufacturers can track operational equipment effectiveness for a machine, a work cell, a plant, or even for the entire company. It allows for granular detail when understanding machine or person’s output, such as the tightness of a screw on a carburetor and the likelihood of its failure.
Mobile apps, social media, and instant messaging have created new and powerful customer touchpoints that enable brand connection. This plethora of data will add value for automobile companies who look to build out their CRM, marketing, behavioral systems, and powerful customer analytics atop their data sets to create memorable, location-based experiences. Marketing departments can further personalize and deploy targeted campaigns based on consumer preferences.
We are a company with a team of expert engineers, data experts, and analysts who bring industry experience to the table. We specialize in automotive data, including Kelley Blue Book and Carvana. Our team uses data-driven methodologies to provide insights into vehicle valuation and pricing analysis, inventory management, data standardization, data governance, data integration, and data quality.
We also provide business intelligence, data analytics, and cloud computing solutions, following agile methodologies to ensure project management is efficient and effective. Our software development services result in customer satisfaction, as we ensure that our solutions align with client needs and expectations.
“Product Perfect consultants are always top-shelf, seasoned, and deeply technical. Their expertise in the automotive data industry and within our technology stack as well was quite effective and I am certain our projects would not have succeeded without their involvement.”
Automotive Data Industry Executive
Senior consultants with previous experience with these types of projects can set the stage for a well-framed engagement.
A focused session on your specific software applications, platforms, or projects. Typically this includes technical resources from both sides.