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Big Data Powers Industry's First Behavior-Based Recommendation Engine for Buying Vehicles Dealer to Dealer
ATLANTA, July 29, 2014 /PRNewswire/ -- DealerMatch today announced a new self-serve digital platform for MatchPro, a self-learning personalized recommendation engine for automotive dealers buying vehicles from other dealers. The first iteration of MatchPro's patent-pending technology, launched in January 2014, required assistance from the DealerMatch Trade Desk team. Now, dealers can access it directly.
MatchPro's simple dashboard interface is powered by big data and ever-evolving computer algorithms that examine 17 behavioral and transactional data attributes on millions of transactions (including auction history, wholesale trades between dealers, retail data, vehicle history and pricing). MatchPro analyzes 70 million data points to help dealers quickly identify what inventory to buy, and who to buy it from.
"MatchPro works like Pandora or Amazon for sourcing wholesale cars. It knows a dealer's previous buying history and learns from his or her on-going behavior," said Paul Sims, Co-Founder and Customer Strategy Officer, DealerMatch. "MatchPro locates the most readily-available vehicles that match the buyer's search criteria and behavior-based needs and displays all the decision-making data needed to complete a deal confidently on one screen."
Due to its corporate alliances and strategic partnerships, DealerMatch has access to auction history and to data on the two million units in dealer inventory nationwide. MatchPro overlays the historical and inventory data with vehicle purchase patterns over the last 30 days. The result is a tailored list of up to 200 available vehicle recommendations the dealer can quickly evaluate using multiple pricing sources and other supporting data. MatchPro can also connect buyers and sellers based on real time supply-demand inventory analysis, enabling dealers who successfully do business together to network quickly and easily.
"DealerMatch's MatchPro sets me up for quicker and greater profits from the start," said Scott Braga, General Manager, Boch New To You of Norwood, Mass. "Lots of companies can tell me how long a car has been in stock, but only MatchPro tells me who is most likely to sell me the car based on market trends and actual behavior. I can find the cars I need, figure out a reasonable price to pay and make offers on dozens of cars in minutes."
MatchPro can also differentiate among multiple users' buying behavior at a dealership and track habits for the dealership as a whole, an important feature for multi-line stores or large dealerships with multiple buyers.
Based on early feedback, DealerMatch plans to make MatchPro even smarter. Work has already begun to update MatchPro's self-learning algorithm to allow for instantaneous dealer feedback. The enhancement will have an effect similar to the thumbs up/thumbs down button on Pandora.
The new dealer-facing MatchPro platform is available to dealers who subscribe to DealerMatch. To request a demo of DealerMatch MatchPro, visit www.dealermatch.com or call 888-457-4404.
DealerMatch is a dealer-driven digital marketplace featuring more than one million retail ready vehicles. Using the website or mobile app, dealers buy and sell with no auction fees, no contract and optional purchase protection. DealerMatch helps franchise and independent dealers quickly and efficiently get the inventory they need while reducing expenses and increasing profits. DealerMatch is now available nationwide. For more information, please visit www.dealermatch.com.
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