Experian Automotive has launched Velocity(SM) at the National Automobile Dealers Association (NADA) convention. Velocity is an online business intelligence tool that combines extensive automotive data with advanced analytics, enabling automotive professionals to better understand the market, the vehicles that are selling and the people who are buying them. Velocity’s unique combination of data and analytics empowers users to quickly gain actionable insights and make profitable decisions.
According to a recent IBM study of 1,734 global chief marketing officers, the number one marketing challenge is to turn mass amounts of available data into information that allows companies to take action. Velocity provides this capability to automotive professionals, providing insight into what specific actions retailers can make to maximize sales.
Velocity provides the ability for automotive marketers to track performance by region, ZIP Code™ and individual dealership, as well as to compare performance against competitive brands at the vehicle or dealership level. Velocity also allows marketers to develop customized key performance indicators to set goals and track ongoing progress. In addition, Velocity provides analytic tools that allow marketers to develop marketing strategies to make an immediate impact on sales performance.