Discover How Big Data And Data Analytics Are Transforming The Automotive Industry
Over the past few years, the big data buzz has proliferated as industries shift from awareness to action. The big data analytics revolution brought about waves of transformation, pushing industry technologies to new heights. As with many others, the automotive industry has embraced big data as one of the new players within their ecosystem, resulting in the continuous evolution of the future car. This transformation is poised to change not just the way cars are being driven, but also the way they are made and conceived. Let’s take a quick look at the few areas where the automotive industry uses big data analytics to get to the next level.
Connected Cars
No doubt, the world had changed drastically when digital technology weaved itself into the picture. With the advancement of technology, cars have transformed in tandem and, along with it, the driving experience. Big data has allowed smart technologies like sensors, Wi-Fi connectivity, on-board computing tools and advanced processes to converge with automotive technologies, giving way to autonomous driving experiences. It offers comfort, convenience, performance, safety, security, and powerful network technology - attributes that mark the new era of smart cars.
Big data’s impact is so significant, the increase in demand for smartphone services and connectivity solutions in vehicles is projected to amount to USD 166 billion by 2025, and this is expected to rise as connected car technology improves further.
Predictive Analysis
The hallmark of a successful company is the ability to have enough foresight in tackling customer problems before they begin to affect the consumer’s experience. Such ability is possible with big data by way of predictive analysis, which helps take the necessary actions to ensure the health of vehicles is kept at the optimal. Not only does this increase customer satisfaction, but it also helps to control costs.
Companies can use predictive analysis to forecast defects in products that are still under warranty and offer consumers replacements. Not only does this ensure the efficiency of such auto parts, but offering such services will help give the company’s reputation a big boost.
Design and Production
Big data has permeated all stages of car manufacturing, including the design and production parameters. Being privy to data related to real-world driving experiences have allowed manufacturers to identify and improve key areas that may have been deemed lacking. By leveraging the power of predictive analysis, big data, and manufacturing simulations, the automotive industry has initiated improvement cycles to enhance efficiency in its operations. Manufacturing and designing processes have become more informed and streamlined, resulting in the provision of a better transportation system.
Automobile Financing
Big data is helping automobile industries gather massive amounts of customer data to help them understand their clientele, financial history, needs, and preferences. Through these insights, they can provide more personalised financial solutions that would better fit their customer’s financial requirements.
Supply Chain Management
The automotive industry has to deal with astronomical amounts of components regularly. A significant portion of revenue needs to be used for these various departments. As such, it is crucial that companies efficiently manage their supply chain in order to enjoy optimal profits. The deciding factors that influence the stability of any supply chain management system include:
● managing operations such that implementing innovative strategies is possible
● making optimised manufacturing processes’
● dealing with market competition in a healthy manner
Fortunately, big data has allowed companies to compare the cost, quality, and reliability of their components and machinery. Predicting demand will enable companies to streamline the procurement process and, in turn, helps them to achieve cost efficiency.
Discover the Smart Car of Your Dreams at Zion Auto Gallery
Big data has undoubtedly dramatically changed the automotive industry, bringing in state-of-the-art innovation. It has claimed a vital role in the evolution of automobiles, and it will continue to do so in the future.
If you are looking to enjoy all the automotive perks that big data has to offer, let Zion Auto Gallery be the one to assist you. As Singapore’s car dealership of choice, we have an extensive selection of new and pre-owned smart cars, both import and export, to meet your fancy. We are on a mission to provide the best customer experience by way of our customer-centric approach - you can expect to relish quality service every time you visit to shop. Don’t hesitate to book an appointment and have a chat with us at no cost.