کد خبر: ۴۵۱۱
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Advanced analytics can extend the profit life cycle for carmakers who know how to use it

A life-cycle approach to sales can give companies that make high-cost, long-lived equipment a new lease on life. By expanding the focus beyond the initial sale, makers of products meant to last years—from heavy construction equipment and aircraft to medical-imaging devices and IT equipment—can open up new profit opportunities across the entire life of the product
Advanced analytics can extend the profit life cycle for carmakers who know how to use it

Nowhere is this virtuous cycle for growth more welcome than in the auto sector, where new competitors, business models, and exacting customer demands have tamped down growth and exerted massive pressures on the industry.

While automakers have long embraced various revenue streams such as financing and servicing, the focus still tends to be predominantly on a single transaction at the dealership. What’s needed instead is a mind-set that seeks to monetize a vehicle-identification number (VIN) across the entire life of the vehicle, creating a virtuous cycle powered by advanced analytics whenever possible. This becomes a self-reinforcing strategy; as each stage of the product life cycle is optimized, it compounds the benefits of each of the other stages.

Advanced analytics is powering this shift from selling cars to maximizing the profitability of each vehicle for as long as it’s on the road. When executed correctly, we have seen a strategy based on the virtuous cycle add up to 12 to 15 percent to margin growth while also growing revenue. In addition, companies experience faster sales of their most profitable products, enhance brand equity, and build a stronger bond with their customers.

Six elements for driving profitable growth

There are six elements of the virtuous cycle that can contribute to profitable growth for automakers (see Exhibit 1). It is critical to keep in mind that the elements are all interconnected; a failure to manage any single element correctly can trigger risk—and destroy value—in the others. Carmakers can guard against this by adopting a life-cycle approach and using advanced data and analytical techniques.

source :https://www.mckinsey.com

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