Auto dealers’ margins and dealership profitability are under more pressure so the need for good information to control business performance has never been higher. Our CEO & Co-founder Conall Lavery, reveals how dealers can benefit from a cloud based business intelligence solution and discusses the importance of installing a BI solution today.
How improve car dealership profitability?
As the automotive industry is rapidly changing and dealers are struggling with new car sales and the COVID-19 emergency, the need for modern data analytics tools has never been more in demand. Check also automotive industry post Covid.
Why do you think that the interests in finding a data analytics solution have recently come to the fore?
“The automotive dealership business is going through one of its greatest periods of change. The last 2-3 years have been challenging for new car sales and the COVID-19 emergency is going to change many things in the automotive industry forever.”
Conall continues in highlighting some of the challenges dealers face around extracting data from their own DMS. “It is very difficult for dealers to bring all their information from multiple sources into visualised, easy to read executive dashboards that are drillable to all levels.” - Something RWA feel is extremely valuable to key decision makers to improve auto dealer profitability, their operational efficiency and business performance.
He also highlights what a typical BI solution is, tips when choosing a BI supplier and answers some of the questions around the cost and time involved when implementing a BI solution. How improve car dealership profitability?
How does your solution work?
“We pull data nightly or more often from multiple sources; DMS, budget sheets and other third-party data into visualised dashboards with KPIs and actionable insights. These dashboards are drillable by outlet, franchise, new cars, used cars, parts & service, and the information can be accessed anytime, anywhere, on any device.”
What prevents people from tackling this problem?
“Some dealers would have the perception that the cost of implementing a BI solution is very expensive and carries a high risk of failure. However, with an agile solution built and delivered in the cloud, these challenges are met.”
Real World Analytics (RWA) understand the importance of transparency and that each team member at each level within the business has the right information at the right time, enabling them to make timely actions and improve car dealership profitability.
“Without transparency there is a lack of accountability, and stuff just does not get done on time and properly.”
More importantly, Conall talks about how the time and hassle of producing reports is removed and the information is accurate and concise across all levels of the business.
“One Version of the Truth”
Driving Dealer Profitability with Data
A Bottom Line interview by 'Motor Trader' with our CEO & Co Founder, Conall Lavery
If you have any questions or would like to learn more please email, firstname.lastname@example.org.
Real World Analytics delivers the right information, at the right time, to the right person to make strategic decisions to improve overall efficiency and profitability in the business. Enabling automotive dealer groups to increase their profitability with cloud solutions by unlocking actionable insights using their data.