US-based consumer and retail specialist The NPD Group has launched an analytics service for the automotive aftermarket sector.
The new offering integrates multiple data sources including store-level point-of-sale data to address business issues such as sales force allocation, product mix and price. A combination of predictive modelling and optimization is applied to determine the current situation and to identify opportunity gaps, trends, future trends and areas for improvement.
The firm says that many clients apply advanced analytics to understand how a brand's sales will respond to price reductions, but issues such as the number of stores selling at varying price points, obscure the effect of price at the total market level.
This new solution clusters stores into groups by indexing price to the national average in order to understand sales performance at varying price levels. NPD says that results can reveal the price point at which the brand achieves sizeable increases in unit sales.
'As the aftermarket grows increasingly competitive and complex, businesses need tools to mine knowledge from the information,' said David Portalatin, Director of Business Analysis for the firm's automotive division. 'It's the aim of NPD to find the information, analyze it and find the insights and direction needed for our aftermarket clients to make the best decisions for their businesses.'
Port Washington, NY-headquartered NPD provides information across a number of sectors including automotive, beauty, consumer technology, entertainment, fashion, food and beverage, and foodservice.
Web site: www.npd.com .