Although we would all like to trust our own instincts, these days, most of us have realized that companies make better decisions when they base them on data and analysis. According to the consulting firm PwC, companies are three times more likely to significantly improve their decisions if they base them on data.
The problem is that most analytics tools are too focused on technology and theory and not focused enough on the real problems faced by spare parts dealers.
This is a common mistake made by providers of technological solutions, who invest thousands of euros and years of effort only to discover that in the real world, distributors need data and knowledge for action and not for theory.
Here are a few of the recurring problems faced by automotive aftermarket parts distributors and the solution which we, at Factory Data, offer our clients:
1) How well does my product range cover market demand?
Market Expert system monitors and analyses market demand, comparing it to your product range. Every month it sends you a report, showing you the service level your product range offers and letting you know if there’s any room for improvement.
2) What products do I urgently need to add to my product range?
Market Expert system accurately calculates the demand for all existing products on the market, orders them by demand level and identifies any that are missing from your product range. Every month, it sends you a report where you can see all the products you urgently need to add to your product range.
3) Can all the products in my web catalog be found with the most common reference numbers?
Market Expert system checks your web catalog to make sure all the products in your range can be found using the market’s most common reference numbers. Every month, it sends you a report with all the cross references you should add to your database.
All this data reported by Market Expert system, and much more, is used in a direct and accurate way to act on specific problems that have a very significant impact on the service level and sales of any spare parts dealer.
In future articles, we will explain complex problems faced by automotive aftermarket parts distributors and how they can resolve them in a very simple way.
Market Expert: Demand-driven analysis platform for automotive aftermarket parts.