Moving Beyond Spreadsheets: Unlock the power of you DMS Data
We have just completed a successful webinar hosted by Automotive Management (AM). Conall Lavery, our Co-founder & CEO and John Hogan, our Co-founder & Chief Data Scientist delivered an informative presentation with a live demonstration to help dealers improve their information tools and make the best out of their DMS data. Click here to watch!
In this webinar, Conall and John brought to light the challenges that auto dealers are going through – not having the right tools to pull information together into one place and get actionable insights. This has always been a challenge, but it is needed now more than ever. The continuation of softness in new vehicle sales, the increasing challenges of sourcing quality used vehicles at the right price, combined with the ever-increasing competition in aftersales have all combined to put more pressure on margins. It is critical that management is on top of everything that is important in the business and a fit for purpose reporting solution is a key management tool.
The obvious solution is a traditional on-premises Business Intelligence (BI) solution but it is so costly that dealers usually build their own solutions. Usually they extract information from their DMS and other systems and manually build spreadsheets. This falls short of their actual needs – providing accurate and timely information to the right person. The problem dealers face isn’t about not having enough information, it's about being overwhelmed with data from multiple sources.
With that in mind, what does an excellent solution look like? John demonstrated a cloud based BI system specifically built for Auto Dealers with drillable dashboards, distributed reports with KPIs & exceptions with performance management across all departments. One of the most important functions is making the information actionable throughout the organisation. John showed how the solution automatically blends actual performance against budgets and manufacturer targets. It was evident how this can help dealers maximise their manufacturer bonuses.
For dealers who are looking to get away from spreadsheets or home-grown data query solutions there are now BI cloud solutions available. To help you evaluate different solutions, John introduced the competitive matrix Real World Analytics has put together to help you pick the correct one for your business.
The objective of this webinar was to provide dealers with an approach that you can bring to your own business to improve your information tools. With well-presented data at your fingertips, you no longer need to rely on your gut feel when making business decisions. Feedback on the day indicated that this is what they saw.
If you missed out on this webinar, don’t worry, it’s still available. Click here to watch!