The Secret Power of Analytics
LAS VEGAS – It’s no longer enough only to know how many digital shoppers are looking at a particular used vehicle listed online, says Jeni Pecard, Cars.com’s director-data information.
“You also have to know who those people are,” what they want and market to them accordingly, she says during a J.D. Power Auto Summit panel discussion on using modern analytics to optimize used-car sales. The conference is in conjunction with the National Automobile Dealers Assn. convention here.
“The used-car market is the perfect opportunity to tap into modern analytics,” says panel moderator Jonathan Banks, J.D. Power’s vice president-valuations and analytics.
That involves aggregating data from assorted sources, crunching it and getting a sense of individual consumer tastes, vehicle needs, buying cycles, financial situations and more.