Why Every OEM Needs Dynamic Data Now
As every OEM knows, the automotive industry is operating in a dynamic and challenging environment. For future-forward firms, this environment is an opportunity to innovate. In particular, analytics, advanced integrations, and one-to-many API value chains are areas of real potential for firms who want to differentiate themselves. s every OEM knows, the automotive industry is operating in a dynamic and challenging environment. For future-forward firms, this environment is an opportunity to innovate. In particular, analytics, advanced integrations, and one-to-many API value chains are areas of real potential for firms who want to differentiate themselves.
For the automobile industry, COVID has been a time of hard truths. A convergence of volatile market conditions, disrupted supply chains, intensifying competition, cost pressure, and general economic uncertainty, demands a corresponding increase in agility and adaptation. The rate of technology change continues at breakneck speed, compressing decades of innovation in digital retail into the twelve months of 2020, irreversibly transforming how auto sales and OEMs operate.
Motive Retail has witnessed how this transformation is being driven by new technologies, such as autonomous vehicles, artificial intelligence, and Big Data, as well as new disruptive players across the tech landscape. Part of this transformation is the relationship between auto manufacturers and software providers like Motive Retail. Our one-to-many approach to servicing complex API integrations provides OEMs with a single, centralized, and consolidated point of operations.
Automotive firms have been slow to embrace the potential of data. Particularly in larger, legacy OEMs, the complex (and hugely expensive) world of APIs and rapid integration has not been well understood. While the volume of automotive data now available is daunting, the possibilities it opens up via the power of analytics can no longer be ignored by any OEM that aspires to embrace the future.
As Deloitte pointed out in their 2015 report, Big data and analytics in the automotive industry, “Building a solid analytics platform is a requirement if automakers want to build a leaner, more profitable, data-driven business environment that is able to produce actionable insights.”
Whether using data to inform customer segmentation, or designing curated, one-of-a-kind incentives to boost sales, using data as a means of optimizing customer acquisition is more in focus than ever.
Furthermore, by using statistical methods to analyze historical data from multiple sources, we can now track the outcomes of marketing campaigns more precisely, and support automakers with a more precise and effective approach to allocating marketing spend.
And lastly, as the recent chip shortage has taught us, data can reveal the points of greatest vulnerability in a supply chain, allowing us to get ahead of serious problems before they emerge. This makes it possible for all parties in the chain to adapt and keep the lights on during turbulent times.
In an age of unprecedented change and potential, Motive Retail is here to help. We can do the heavy lifting so that you are not overwhelmed by swarms of APIs, or drown in complex and time-consuming headcount investments. Our advanced, battle-tested platform converts complex to easy.
From testing, data governance and compliance, to third-party and OEM integrations, we have solutions at every level. We are passionate about helping our clients translate data into intelligence that fuels decision-making by connecting APIs and analytics. Our integrations drive innovation across your business, creating the strategic foundations for value creation and competitive advantage.