Your dealership probably possesses an abundance of data. If your sales, marketing, service, and F&I departments utilize a Customer Data Platform (CDP), it’s likely that you find yourself immersed in a vast amount of data.
The implementation of predictive analytics has revolutionized sales and marketing strategies. Through analyzing historical data and identifying patterns, AI algorithms are capable of predicting future sales, optimizing inventory levels, and even forecasting which customers and demographics are most likely to purchase a particular vehicle.
This predictive capability empowers dealers and Original Equipment Manufacturers (OEMs) to make well-informed decisions, reduce costs, and customize their approach to cater to specific customer segments.