Improving Performance Through AI
There's a lot of buzz these days about artificial intelligence (AI) and machine learning, usually coming from Silicon Valley high-tech giants. Thanks to RMS Automotive, these revolutionary data science technologies are now being used within the vehicle remarketing industry to improve client performance.
Helping Clients Drive Business
Combining powerful analytics with Cox Automotive’s industry-leading assets, RMS Automotive has created an AI-powered Optimization product suite that delivers vehicle-specific data and insights to help its clients improve sales. The AI enables these solutions to use large amounts of information to make scientific, prescriptive recommendations that are fast, automated, integrated with client systems, and that are updated as market conditions change.
“We are doing exciting work that is pushing the boundaries of the vehicle remarketing industry,” said Dr. Ben Flusberg, associate vice president, Decision Support, RMS Automotive. “Clients are experiencing increased pressure on performance. To help them succeed, we blend artificial intelligence, technology and unmatched industry perspective and take their portfolio performance to the next level.”
Bringing It to Life
The AI algorithms that power RMS Automotive solutions are developed by Cox Automotive’s team of data scientists and brought to life by technologists, software developers, product managers and client consultants. Using data from across the Cox Automotive ecosystem, experts create solutions that equip RMS Automotive clients with an unmatched set of decision-making tools. The products, which include Pricing Optimization, Location Optimization and Reconditioning Optimization, can be tailored to meet clients’ business goals and priorities and are applicable to both digital and physical auction inventory.
To complement the Optimization product suite, RMS Automotive is also partnering with Manheim to develop a vehicle recommendation engine for wholesale buyers. This new capability uses machine learning to analyze individual buyers’ purchase and bidding patterns, and presents similar vehicles available for sale within the Manheim marketplace.
For more information about RMS Automotive, visit www.rmsautomotive.com.
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