Uncovering Untapped Revenue through the Connected Car
The ChallengeBefore today’s connected cars, consumers simply rolled their new vehicles out of dealerships and reacted to issues as they arose. OEMs and dealers were disconnected as well, without the visibility to respond to issues proactively. They were unable to deliver the right parts and service to not only remedy the issue, but were also missing an opportunity capture additional service revenue. With the arrival of the connected car, we now have an opportunity to gain visibility into real-time vehicle performance and inform both service and parts organizations. Our team was tapped by a major global automaker to design an intelligent IoT infrastructure that would allow the brand to provide proactive customer service and, in parallel, monetize the data by driving more service revenue at dealerships.
Our team mapped out a solution for an international automaker to give them both proactive and predictive capabilities to address vehicle performance issues. The data landscape was fragmented with many involved parties, both internal and external, from the OEM to the dealership to third-parties providers. The solution required all participants be aligned behind a common dataset that combined real-time vehicle data, supply chain information, CRM data and dealer scheduling systems. Once in sync, the OEM could provide an entirely new, differentiated service to its customers while capturing untapped service revenues at the same time. The OEM needed help analyzing its current environment and devising a solution to serve as a central connected data mart. The solution would amass real-time data dynamically from its entire base of connected vehicles and combined it with other operational and marketing data sources.
With the solution identified, the automaker could respond to customers proactively as vehicle issues arose. Analyzing the stored data, the OEM would be able to anticipate future issues once performance patterns were identified. We assessed the landscape and provided a solution on how alerts from vehicles could be translated into services, such as warranty repairs before the customer realized the vehicle had an issue. Through a predictive model, the business could differentiate itself in the connected car era and realize its ultimate goal of additional service revenue.