Understanding how big data translates into real-world business value is the key to success, saysRead More
Kognitio Cloud helps car dealers boost marketing
With businesses of all sizes and across all sectors now finding they are gathering much more information than in previous years, a wide range of organizations stand to gain from the insights provided by this data.
Among the sectors that are set to benefit from the latest big data analytics is the automotive industry. Kognitio is assisting with this, as we have recently helped specialist firm iAuto Analytics develop a tool that can be used to help local car dealers improve their marketing campaigns.
Kognitio Cloud is used in the new MarketScape solution to create a hosted analytical platform. Our technology helped iAuto Analytics slash its startup and capital expenditure costs, while still providing a powerful solution that uses state-of-the-art data analytics to examine a wide range of information. It also makes it very easy for iAuto Analytics to scale up the technology and add capacity in order to serve more dealers as the business grows.
MarketScape gathers details from a variety of sources, including both traditional and emerging media. The algorithms within the system can then forecast market sales and make predictions to dealers for expected returns for various marketing scenarios.
This means dealers will be able to adjust their marketing campaigns to ensure maximum effectiveness. As a result, small local dealerships will be able to access capabilities to match those employed by larger enterprises, but at a fraction of the cost.
President of iAuto Analytics Rao Avasarala said: “The car market is highly competitive, with razor-thin margins. Dealers are looking for any advantage they can get. MarketScape uses data and analytics to help them optimize their spend and gain a solid return on their investment.”
He added that consumers today have a huge range of choices when it comes to researching and purchasing a car and when they make their decision, it will because because a car has compelling design or features that best meet their requirements. Therefore, dealers that are able to understand what customers are looking for and tailor their marketing messages accordingly stand well-placed to see success in a highly challenging sector.
Mr Avasarala said that like many businesses, the most important factors for iAuto Analytics when looking for technology solutions are performance and scale – both of which are critical. Kognitio Cloud meets these demands and allows the business to focus on usability and growing the company.
He also highlighted the commitment of Kognitio and their willingness to develop a strong relationship with iAuto Analytics.
“As a small firm, we got virtually no response from other companies we contacted. But Kognitio took the time to work with us and that gave us confidence and comfort,” he said.
Steve Millard, president and chief executive of Kognitio, said: “Providing an analytical platform for data-driven companies like iAuto Analytics is exactly what Kognitio Cloud was designed for, and something we love to do.”
He added that Kognitio prides itself on providing a flexible and agile platform for customers that demand powerful software in order to help support their own analytical solutions.
You can find the press release on this news on the Kognitio website. More information on iAuto Analytics and there MarketScape offering are on their website.