INSPIRATION
In the age of big data, advanced data analytics informs various decisions throughout the lifecycle of a vehicle. Data gathered from vehicles enables predictive maintenance, informs managers about their fleets, and alerts concerned authorities in case of accidents. Moreover, customer automotive data finds applications in driving sales, optimizing supply chains, and enhancing product design for newer vehicles.
The US-based startup Procon Analytics leverages big data to offer a solution for automotive finance. The solution captures millions of data points in real-time and analyzes them to enable lenders to instantly assess and reduce risk. This allows Buy Here Pay Here (BHPH) dealers to expand their businesses
and extend credit to high-risk customers. Further, this also offers software solutions for fleet and asset tracking as well as connected cars.
Swiss startup Unit8 uses big data and analytics to offer digital solutions for various industries. For automotive, the startup develops predictive models that encourage car companies to improve marketing or operations and increase their revenue. These models provide insights into product build,price, as well as after-sales service.
