“The numbers don’t lie,” you’ve probably heard somebody say. But numbers alone also don’t tell us much.
Facebook has 2.7 billion active monthly users. But what does that number mean?
If we do a little research, we find that no other social media site has that many active monthly users. The next closest are YouTube and WhatsApp, with roughly 2 billion active monthly users each, and then Facebook Messenger doesn’t have even half as many, with 1.3 billion.
Now we have a little bit of a better understanding of what the 2.7 billion number means.
We’ve translated the number (raw data) into potentially helpful information, using a comparison.
We could look at other Facebook numbers – say, the number of ads clicked on every day or the number of active users with an income over $100,000 – and compare them to other social platforms’ numbers to learn even more.
In its “What’s Your Data Strategy?” article, Harvard Busines Review recently stated that “information is ‘data endowed with relevance and purpose.’ Raw data, such as customer retention rates, sales figures, and supply costs, is of limited value until it has been integrated with other data and transformed into information that can guide decision making.”
This points to one of the main features of AutoAlert’s powerful data platform: It takes raw, secured data from multiple sources every day (more than any other dealership solution) and turns it into information that is useful in many ways for your dealership.
Our algorithms are always learning, helping you find the “sweet spot” for reaching out to a particular customer with an opportunity – which may be a moving target for a number of reasons.
AutoAlert excels at turning raw data into useful information, but where we also stand alone is in turning that information into actions that lead to results.
And we accomplish it through partnering closely with each dealership using our software.
We help dealerships do more with data by partnering with them. Here are five specific areas where we work with you to maximize your opportunities …
1. We lead the industry in data security and meet the worldwide standard for our dealership partners. In fact, we are the only software company in automotive to have high-level security in place via Service Organization Control (SOC) 2 Type 2 Certification.
Our audit by Hancock Askew passed with “no exceptions,” meaning that in six months of observing minutia of our handling of sensitive information, no issues were found.
Conducted by third-party auditors, SOC 2 reports have gained recognition as the worldwide standard for secure and confidential information handling. They allow clients (in this case, OEMs and dealerships) to gain assurance about a company’s controls and processes that effect the security, availability, and processing integrity of the systems used to process data, as well as the confidentiality and privacy of the information processed by the systems.
2. We break down barriers among your data sources to get your data “communicating,” so to speak, for the most dynamic, valuable insights into customers’ real-time needs.
As illustrated in the Facebook example, one piece of data means little on its own. Its only after that data is compared to other numbers and given context that it starts to be helpful.
AutoAlert uses more data points than any other solution out there, and our powerful analytics deliver proven opportunities daily.
3. We provide a flexible data platform so that you can adjust parameters based on your needs, by including a particular incentive or focusing on certain vehicles to move.
This flexibility has proved especially helpful during the pandemic; many of our partners adjusted their business model and used our Recall Management Solution to drive business to their service departments. The platform is accessible via mobile, so they dealership teams were able to work remotely.
4. We make it easy for your team to take action based on data-backed opportunities, and then track and measure the success of your efforts so that you can always be learning and growing.
Our dealer partners choose from a wide array of on demand reports and we work with our dealers directly to identify and address areas of weakness as well as areas of opportunity.
5. Last but not least, we provide proactive support, including a dedicated account manager who is with you the lifetime of your partnership with us. Your team also has 24/7 access to a full library of best practice webinars and other training materials.
AutoAlert’s Training Team recently won a Stevie Award for its adaptation to fully virtual onboarding and training last year, with one judge saying, “Consolidating previous learnings into a playbook and digitization of training programs are steps in the right direction for future business models.”
Data has recently been called “the new oil.” In 2018, 2.5 quintillion bytes of data were created each day, and that number is only expected to grow.
Translating the ever-increasing amount of data into actionable opportunities that grow your business while also improving the vehicle-buyer’s journey is key to a strong future for your dealership.
The good news is, it’s never too late to get started with putting data to work for you.