I’m thinking of building an Innovation Lab, I’d like your thoughts.

[joe.pistell]

Built by Car Guys #2

• Manage By The Numbers (MBTN). An 'inwardly looking' analytics platform built by a VP of a dealer group.

MBTN is built by @Pedram F, a very very bright car guy with a proven history to turn around weak stores. In each store he turned around, Pedram used multiple spreadsheets to score and drive his decisions. From this body of work, he's built a platform around his model. He calls it "Manage By The Numbers" https://mbtnsolutions.com/ Ping Pedram for a demo and be sure to let me know how it went.

Found a video of Pedram a GM at the DelGrande Group pitching his store
​

 

[joe.pistell]

Built by Car Guys #3

• AutoScores.com Inventory Sale Forecasting.

I overheard a story where a data scientists' family owend an MB point, then, he meets another data science geek and they formulate a system to predict the likelihood of a vehicle's sale. I don't know if it's true, but I like the sounds of this! Once I looked into how the model was built (video below), I really became interested as it's closely aligned with the forecasting model that I tried to build at DDC. I'll drop some notes below...

1. Autoscores uses engagement stats from your website to create YOUR algo
   
2. They look at all cars that sold and then use pattern recognition (machine learning) to create an algo that is UNIQUE to your inventory (it takes 4 weeks for the ML algo to train itself).
   
3. Great explainer video:

So, If you're curious, so am I! I'm doing some real deep dives in this tool, Ping me if you're interested in testing AutoScores on your store, or, leave your contact info just want to follow along. What I hope to test:

• Is the forecast actionable?
  • Will it help identify...
    • units that need no discount to sell?
    • units that are "lost-in-space" (and can we create action items from this?)
    • units that should have sold, but, has some 'other problem'?
  • Will it help identify...
    • macro activity
      • Instore Traffic (i.e. floor traffic forecast next 3 days up 20%)
      • Inventory Mix (i.e. Used car activity rising and trending higher)
        • i.e. All Toyota Sienna shopping activity is rising and trending higher)
      • inventory health (i.e. do merchandising efforts help?)
  • etc...

​

 

[Alexander Lau]

I find it odd, the number of automotive start-up company "thinkers / leaders" with absolutely no automotive experience (sales, marketing, etc.). Massive amounts of VC are thrown at them in an attempt to pluck a piece of the massive market. Say what you want about groups taking pride in "non-automotive" resources and professionals. It usually comes back to bite investors.

 

[Alex Snyder]

I find it odd, the number of automotive start-up company "thinkers / leaders" with absolutely no automotive experience (sales, marketing, etc.).

The ones that drive me the most crazy are the ones who bought a car from a dealer and hated the experience. They were inspired to change the industry because all dealers are evil!

Or the "automotive rejects" that tote their time in a store, but weren't actually successful. I also like the "green peas" who do the same thing with less than 1 year in some car sales role.

There is no lack of inexperienced-smooth-talking snake oil salesmen that are good at coaxing money out of a car dealer.

 

[mikesayre]

I find it odd, the number of automotive start-up company "thinkers / leaders" with absolutely no automotive experience (sales, marketing, etc.). Massive amounts of VC are thrown at them in an attempt to pluck a piece of the massive market. Say what you want about groups taking pride in "non-automotive" resources and professionals. It usually comes back to bite investors.

Great point. There's so much bloat with this business that it's easy to simplify methods of doing business and capture investment money.

I think it could all end if OEMs & Dealers would focus resources & start to rethink their entire business model.

 

[joe.pistell]

I'm looking for dealer's to test AutoScores.com, the Inventory Sale Forecasting platform. It'll be an 8-week test, 4weeks of data gathering are required, then we'll look at the data for 4 weeks to see what we learn.

reply here, Direct Message me here or on Linkedin, or send me an email at joepistell[at]gmail[dot]com.