Frost & Sullivan reveals the key to deploying monetizable business models utilizing Big Data at Telematics West Coast 2014
Cars are zooming in as the third largest contributor to the world of Internet of Things (IoT), and the concept of predictive analytics is becoming critical to make use of the large amounts of connectivity, bandwidth and data. Vehicle manufacturers and the associated automotive ecosystem are just scratching the surface of predictive analytics but view it as an innovative tool to enable cost savings whilst fighting challenges such as data quality, type of data to tap into, and investment needed to capture and make sense of the information.
Select companies in the location-based services, internet aggregator service, and smart parking management companies are leading the development of solid use cases for predictive analytics that can be monetized into actual business models and application uses for the end user.
- Explore various automotive industry Big Data business cases and how Big Data can deliver higher value for customers, automakers, and other businesses in the value chain
- Case Study: Analyze the device’s market fast-growing OBD II Plug, where the unique selling point is all about Big Data and application areas such as insurance, diagnostics, and services
- Understand consumer needs, demands and willingness to pay for different services and features from a connected services and content viewpoint.
“There is a definite savings angle in using predictive analytics in the automotive industry, especially from a warranty standpoint where it can impact more than $450 in savings per car,” said Frost & Sullivan Automotive & Transportation Research Manager Praveen Chandrasekar. “But, you tend to question if savings is the only angle for Big Data in this industry, which struggles to sell any kind of service to consumers – be it telematics or long term aftersales. Specific original equipment manufacturers (OEMs) and vendors are even exploring the use of predictive analytics in the personalization of autonomous driving, which, once in automated mode, will mirror the driving style of a driver.”
- Attend “Big Data, Big Revenue for the Car Industry” at Telematics West Coast 2014, previously known as Content & Apps for Automotive USA Conference & Exhibition, by registering for the event: http://www.telematicsupdate.com/west-coast/
For more information about Frost & Sullivan’s global Automotive & Transportation practice, please visit: http://www.automotive.frost.com.
About Telematics West Coast 2014
The Telematics West Coast Conference & Exhibition 2014 (Oct 30-31, Hilton, San Diego, USA) will discuss the future of content & services in the connected car. The speaker line-up includes Ford, Volkswagen, Nissan, Harman, Continental, Jaguar Land Rover, and more. The fifth annual gathering will tackle how to leverage data to personalize the auto customer experience and the opportunities and challenges facing seamlessly embedding the car in the connected lifestyle. Key topics this year include customizing in-car content & services, building brand loyalty, improving customer relationship management and addressing the key issues surrounding security and privacy when relying on data in a wider connected world. Face-to-face networking is unrivalled for business success. Meet and network with over 250 senior level attendees through our pre and post show e-networker, structured networking brakes, and a drinks reception at the end of day one.
About Frost & Sullivan
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