Manheim to bring car recommendation tool to Marketplace
You watch “The Office” on Netflix. So, then the streaming service recommends other workplace comedies like “Parks and Recreation” or “Cheers.”
To an extent, that’s happening in wholesale automotive, where companies like Manheim are using artificial intelligence and big data to create a more “personalized” experience for dealers when they go to shop for cars.
The Data Solutions group at parent company Cox Automotive developed a vehicle recommendation engine that utilizes AI to learn and make adjustments in what it recommends.
The company has been piloting it this year with more than 15,000 dealers and plans to make personal recommendations available to dealers who log on to Manheim.com starting early next year.
“With the wide usage of sites like Amazon and Netflix, people are used to seeing personalized recommendations and even expect it,” said Ben Flusberg, Cox Automotive’s associate vice president of Decision Support, in a news release.
“We’re bringing this capability to the wholesale market to help dealers quickly and easily find the right inventory and make faster decisions, which are core to Manheim’s mission,” Flusberg said.
The platform is designed to assess how an individual dealer has bought or bid historically, using various vehicle and market attributes. It then aligns that with available Manheim inventory.
The algorithm considers dealer preferences in vehicle age, make, model, mileage, condition, seller segment, geographic/market factors and more before sending recommendations.
“This is a great example of how we’re bringing together the best of our technology and data resources to give dealers a real, usable solution that will make it easier for them to buy the right vehicles,” said Ed Berkowitz, Cox Automotive’s vice president of product management.
“With the success of the pilot, we’re excited to make this modern experience available to dealers directly within the Manheim Marketplace.”
Source: Auto Remarketing