Francisco Acevedo
December 22, 2014
BSA 310
Instructor Ivon Young
Career Analytics Manheim Auto Auction is “transforming the wholesale vehicle buying and selling through investments in technology and innovative products and services. Manheim markets Simulcast, Simulcast Everywhere, OVE.com, and Manheim Consulting. Manheim has set the industry standard for buying and selling used vehicles at live auctions and online. It brings together qualified sellers and volume buyers of used vehicles that include automotive dealerships, banks, car rental agencies, car manufacturers and government agencies. ” (Manheim.com, 2014). With the fact that Manheim cares about its employees, the environment, the community it serves, and most importantly its customers, I believe that the information gained through analytics can improve the buying and selling experience for all parties involved. According to (Winston, 2014) “analytics is the data used by companies to try and make better decisions. And the word analytics comes from a book “Computing on Analytics” written by Thomas Davenport around 2005, 2006 and that book popularized the word analytics simply using that for any situation which an organization is trying to use data.” The use of analytics in your company can be very beneficial and profitable. The use of predictive analytics in the areas of customer segmentation, forecasting, retention analysis, and value analysis for both buyers and sellers is a great way to bring forth the best customer service, combat attrition, and maintain or possibly increase profitability. There are many types of attrition that can negatively affect your company, including voluntary, silent, balance and spend or usage attrition. The effect of attrition can include an increase of the cost to acquire a new customer which can impact growth. Relying on new customers is not a sustainable strategy, but this can be combatted. With a strategy including segmentation, predictive analytics and modeling, we can increase your company’s profitability. With the use of analytics along with the ambition, your company’s set goals of reducing attrition, increasing sales, profitability, and ROI, and optimizing marketing speed, are easily attainable. Segmentation can “define a