It is one thing to aggregate data. It is another to normalize, index, add depth and present in a way that save people and companies time and make money. Here’s an example of using aggregated data designed specifically to save its users time and make them money.
Some years ago I visited a car dealer to talk about our LiveMarket product. As we started to look at the product, he cut me off saying “all of this information is already available on carsales; every Monday morning I get my team together and we go through every one of our vehicles, see where it is positioned on carsales, adjust pricing if necessary, add comments, add photos and all that so we don’t need LiveMarket”.
I asked him how many people and how long this process takes him every Monday morning – “4-5 hours for 5 people” was the answer – No wonder they only do it once a week!
By doing what they did each Monday morning, they had an obvious appreciation for competitive live market data so I showed him how LiveMarket can do exactly what they do every Monday (plus a whole lot more) in just 10 minutes, any day you want, any time you want for every one of your vehicles. He could see how each vehicle is positioned in the market using real time data and make real time changes to make selling easier and more profitable.
The penny dropped. Using LiveMarket to get an aggregated view of the competitive live market data has not only saved the dealer a lot of time, it has enabled them to sell better, increase velocity and be more profitable in the used car department.
I love the power and value of aggregated data for smart business decisions.