Presentation on theme: "1 Optimizing the Power of Your Data Stu Zalud NADA Used Car Guide October 24, 2012."— Presentation transcript:
1 Optimizing the Power of Your Data Stu Zalud NADA Used Car Guide October 24, 2012
Agenda Questions You Should Be Asking: ◦ What is my situation today? ◦ Why should I care? ◦ How do I protect myself? ◦ What’s in it for me? Demonstration of a Good Data Relationship
Dealer DMS OEM3 rd Party Business Reporting What is My Situation Today?
–Disruptive Cycle Remarketers Lenders USEDNEW 3 rd Party Activity
Data in DMS is valuable Multiple sources accessing Rarely purge system to remove expired or unauthorized access Transaction data drives valuations of new & used vehicles Not all transaction data is equal Know how your data is used Why should I care?
How Do I Protect Myself? NADA Role Represent dealers Educate dealers Address dealer concerns over data protection & usage Monitor how it is used NADA formed Strategic Alliance with JD Power as part of ongoing effort to help dealers use their data to improve operations while satisfying their legal requirements.
NADA PIN Agreement sets the standard for protection and dealer indemnified: Dealer owns their data Data confidential and individual dealer data never exposed to OEM or other dealers Dealers receive valuable, free reports from JD Power to benchmark Industry moves to the forefront in using transactional data for more informed decision-making Dealers receive better representation and services from NADA and have the confidence that NADA is in the forefront of an issue of vital importance to dealers What's In It For Me?
PIN collects electronic point-of-sale information directly from dealers’ F&I systems. Dealers receive access to a web-based reporting portal – which allows them to benchmark themselves vs. their local market. Demonstration of a Good Relationship NADA & JD Power PIN Program
PIN Enrollment is FREE and provides access to PowerDealer: PowerDealer monitors sales activity for same make and competitors in their marketplace – the data is updated nightly; not monthly Compares new, used and F&I performance versus competition Allows dealers to find out in “Real Time” the true market value of traded in vehicles Gives dealers an overview of the Captive and Non Captive lending sources in their market By utilizing PowerDealer, Retailers can: Measure pricing and inventory strategy performance Improve sales and F&I profitability Benchmark and track ongoing performance Why is PIN a Good Data Relationship?
Available Performance Reports
Provides visual dashboard comparison of key metrics & allows for customized goal setting Key Performance Indicators (KPI)
TRENDS: Provides visual trend of key performance metrics
Identify model level opportunities in your market Return on Inventory Identify models under- performing the market (in volume) Identify models over- performing the market (in volume) Identify models over or under- performing the market (in gross) Are you stocking the right model lines? Is there a missed volume or gross opportunity?
Financing/Leasing See what others in market are financing or leasing with and at what rate and term Are you working with lenders that provide the terms and rates that help you close deals?
Customer Sales Google Map Maps out where customers are coming from
Dealer owns their data Agreement sets the standard for protection and dealer indemnified Data confidential and individual dealer data never exposed to OEM or other dealers Dealers receive valuable reports from JD Power to benchmark for free Industry moves to the forefront in using transactional data for more informed decision-making Dealers receive better representation and services from NADA and have the confidence that NADA is in the forefront of an issue of vital importance to dealers PIN = Good for Dealers
Supports initial goal – more accurate Used Car Guide Data supports dealer advocacy efforts with OEMs and the government Better represent the dealer perspective in the media Potential for enhanced 20 Group and Dealer Academy offerings PIN = Good for NADA
Thank You Stu Zalud ◦ ◦ Jim Dodd ◦ ◦ Stop by and see us at Booth #731