Valuation using market information
A market intelligence company wanted to provide an online service which can automatically set the price for a used car. The aim was to help salespeople set the price for their cars as close to the actual market price as possible.
We helped the customer reach their goal by developing a solution based on an extensive database, containing the realized price and technical attributes of used cars. The solution utilizes our R-based AI-core framework, enabling automatic re-pricing of the inventory to match the current market price, as the price of used and even new cars tends to decline with time. The pricing model is now in operative use in an online tool used daily by customers.
What we did
We helped the customers of our customer:
* Accurately determine the appropriate price for used cars
* Speed up the sales process and increase inventory turnover
* Reduce manual labor and remove guesswork