IHS Markit wins award for its Dealer Network Planning solution
IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced that it had won the Michael Bauer International (MB-International) Global Innovation Award in recognition of its innovative solution to address the changing automotive dealer network environment at an awards ceremony held at MB-International's biennial Geo Experts Seminar in Hornbach, Germany. The award recognized IHS Markit for its "New Retail" network planning approach which combines geo-marketing techniques and data assets from both automotive and non-automotive fields in a unique, innovative way.
The global automotive industry is facing disruptive changes due to new technologies including electrification and autonomy, digitization and e-commerce, as well as new mobility concepts such as car-sharing. These megatrends have a direct impact on traditional dealer networks and location planning, including the optimization of market coverage and dealer customer travel time.
For effective dealer network planning, the new market environment requires an omni-channel planning approach that includes online and offline customer touchpoints and diversified retail formats. To help customers, IHS Markit works with global OEMs and their dealer networks to advise on their location planning and to provide guidance on future business decisions.
IHS Markit recently worked with a major global OEM and applied this proprietary methodology to determine the most optimal dealership locations. As part of the project, IHS Markit used its automotive dealer network planning capabilities which provided the OEM with comprehensive recommendations based on a proprietary methodology built from various IHS Markit assets. The research leveraged geo-localized online affinity, retail centrality and consumer styles data.
"Sincere congratulations to the IHS Markit team on winning this award. The award stands for their dedication to innovate and create forward-looking data-based models which predict the interaction between customers and retailers along a digitized customer journey, thereby allowing the planning of new retail formats," said Ray Roberts-York, managing director of MB-International. "The automotive industry faces disruptive changes due to new technologies and IHS Markit offers future-oriented solutions with MBI data to accompany this development."
Tanja Linken, Dealer Network Development Global Practice Leader at IHS Markit, accepted the award on behalf of the IHS Markit team. "This project provided us the opportunity to work with our OEM client to clarify their business strategy for a period of time to come," Linken said. "Working with our state-of-the-art tools and analytics capabilities, we were able to deliver unique value by integrating forecasts and future market trends."
Criteria for the award included an understanding of how MB-International data contributed to the conception and development of the innovation, its unique value proposition and the relationship between its global usability and benefits to the new market. In addition, it evaluated the sustainability and potential global impact of the innovation as an inspiration for future innovations and innovators.
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