Predictive intelligence is at the foundation of how artificial intelligence (AI) will transform sales and marketing in the 2020s. It combines data mining with predictive modeling, machine learning, and other techniques to provide unprecedented insight into your business and customers.
Today’s marketplace is data-driven, and you can no longer afford to ignore it. It’s used to make smarter decisions, streamline processes to accomplish them, and optimize your business resources. Predictive intelligence unlocks big data analysis that allows you to compete in the modern business world.
How Dealers Benefit from Predictive Intelligence
Data is growing exponentially these days. IDC estimates worldwide data will grow to 175 zettabytes by 2025. This massive amount of data is fueling the AI arms race. In fact, Gartner reports 37% of organizations already have AI implementations. The biggest investments in AI occur in:
- Customer Service Automation
- Automating Sales Processes
- Threat Intelligence and Prevention
You can’t afford to wait to jump in the race, because the future is already here. You’re already competing with Carvana. Its footprint of car vending machines and partnerships with companies like Lyft is redefining the used car buying and selling experience.
Carvana is the most disruptive startup to hit the automotive market since Tesla, but, while Tesla is a manufacturer, Carvana is the fastest growing used car dealership in the U.S. Its acquisitions include Carlypso and Car360, two tech companies that are growing their data and analytics capabilities. This is the new bar in predictive intelligence all dealerships need to clear.
Navigating a Data-Driven World
Of course, the buying and selling process is only one part of the engine driving your business. Vehicle maintenance can also benefit from predictive intelligence. All consumer vehicles made after 1996 have OBD-II ports, which connect to the vehicle’s on-board computer to provide important engine data.
These ports have long been used by auto repair shops to diagnose mechanical problems. The increase in OEM embedded automotive telematics on the market makes it easier than ever to perform predictive vehicle maintenance. Remote connections and GPS mean you can even provide on-site emergency services and other features to gain an edge on the competition.
With predictive maintenance, you can provide longer guarantees and more comprehensive protection. This can save your customers on insurance costs while protecting them from theft and other headaches associated with vehicle ownership. The use cases of data are endless, and you’re only seeing the beginning stages right now.
Unlock the Power of Predictive Intelligence
Predictive intelligence is evolving the modern dealership, and the transformation is already happening. While you’re reading this, your competitor is hard at work implementing a solution.
Contact The ACE Group today to speak with one of our consultants about how to leverage predictive data to grow your dealership.