Important Roles Of Business Intelligence In The Automotive Industry

By Author: Bappaditta Jana
Total Articles: 69
Comment this article

Technology, innovation, and business intelligence in the automobile sector have all contributed significantly to the growth of the sector. The previous ten years have seen the industry grow quickly thanks to automotive analytics.

By lowering maintenance costs and boosting vehicle safety using cognitive IoT and other methods, auto dealer analytics and automotive business intelligence further control the industry's growth.

The automotive business is undergoing a digital revolution, which presents new chances for experts to advance their careers and capitalize on this expanding trend. The car industry employs business intelligence and data analytics to enhance its game in the following areas.

Production planning

Major automotive manufacturers rely on business intelligence to ensure that there is never a shortage in product supply. The most accurate demand projections and resource sourcing are made possible by business intelligence platforms with features like conversational intelligence, predictive intelligence, and self-service analytics.

A bird's eye vision of the future and ...
... improved operational management are provided by effective production planning.

Sales strategy

Utilizing techniques like predictive intelligence and combining and analyzing consumer data can assist determine the predicted market size, customer segment, and other sales planning tools that help allocate and spend money wisely.

With the use of big data analytics, a company can allocate funds to sales planning that will maximize the impact of the product line's debut.

Analysis of consumer satisfaction

Cars have 50 or more sensors that record data on speed, emissions, fuel use, resource use, and safety. With the help of this information, quality problems can be fixed over time or avoided altogether.

To raise customer satisfaction and quality control to a cost-effective level, analysis is used. It is customary for forecasting and predictive analytics techniques to be actively used during automotive product recalls in order to lower development risks.

In order to develop and create smart cities, forward-thinking companies are working with the government to forecast and detect regions of high congestion using BI tools.

With information from car data and other sources like satellites, cell phones, GPS data, etc., urban challenges like resource distribution, effective traffic management, and environmental issues can be resolved.

Supply-chain Management

With numerous parts, the ordinary passenger car has a lot of room for supply chain hiccups and gaps. Using business intelligence tools will help you avoid production delays.

Furthermore, analytics may assist in anticipating supply chain problems brought on by both internal and external causes, which can aid in improved planning and execution.

Improved marketing expenditure

Finding the value produced by variable and fixed marketing efforts can be accomplished by using statistical models to gain insights from historical data from a variety of sources.

These findings aid automakers in formulating a sensible strategy for the distribution of marketing expenditures.

Measuring the CTC cycle

Planning the CTC is crucial in the automobile sector. Business intelligence aids in determining the cycle for each product before the company will receive the money back from sales, especially in light of the lengthy investment cycle before the returns start flowing in.

Any automobile firm seeking the highest returns on its investment must have this knowledge in order to succeed and that's where BI tools can help Business Intelligence companies with the data tracking, data querying and Analysis functions.

Bappaditta Jana is a blogger who loves to spend his free time engaging in sports or gardening. Based in Kolkata, he is currently working with EasyReports an IT firm that has developed a BI reporting tool that can easily integrate with Tally ERP and many other applications.