In a collaboration intended to transform the way automakers, dealers, insurers and financing companies leverage data-driven insights, data and analytics provider J.D. Power will work with Palantir Technologies Inc. to develop generative artificial intelligence and predictive analytics solutions to facilitate deeper insights and more strategic decision-making by the automotive industry.
J.D. Power, which analyzes more than 20 million vehicle transactions per year and has collected billions of vehicle configuration and performance datapoints, will leverage Palantir Foundry and AIP to help integrate its automotive data sets, including incentives, retail sales, valuations, vehicle configuration, service and warranty, new and used inventory, and automobile customer experience data, to support development of analytics models and workflow solutions to help address some of the auto industry’s toughest issues. The combined capabilities will also help facilitate collaboration between automakers and industry regulators as new technologies, such as electrification and autonomous driving, become more widely adopted.
“This breakthrough collaboration will fundamentally transform the way the auto industry analyzes its performance and optimizes its go-to-market strategy and product offerings by pairing the world’s most robust automotive databases with the most powerful analytics platforms,” said J.D. Power President and CEO Dave Habiger. “As a result of our work with Palantir, our clients are now able to create unique insights that were previously impossible.”
J.D. Power and Palantir are working to help auto industry customers, including OEMs, suppliers, dealers, financing companies and insurers, rapidly scale development of new AI-driven solutions. Several auto manufacturers have already integrated the platform into their strategic-planning processes.
Additional solutions already developed leveraging J.D. Power data on Palantir Foundry include the following:
Repair Analytics: J.D. Power and Palantir have developed a repair analytics application that monitors warranty costs and automatically flags areas in need of further attention to give auto OEMs and dealers a proactive means of predicting and managing vehicle repair costs.
Intelligent Alerts: The newly developed system tracks vehicle-specific sales activity, competitive dynamics and macroeconomic trends, allowing OEMs, dealers and financing companies to optimize incentive strategies based on real-time, hyper-local data.
EV Battery Health Analytics: A new electric vehicle monitoring application analyzes battery health in large fleets and delivers insights and data that can be used for quality and performance improvement management.
Digital Journey Optimization: A data hub that combines auto OEM customer engagement data with J.D. Power pricing and satisfaction insights, enabling auto OEMs and dealers to target shoppers and owners in the optimal channel with a personalized message.
“The automotive industry is at a critical inflection point as AI and other forces continue to transform the industry,” said Palantir co-founder and CEO Alexander Karp. “J.D. Power sets itself apart as a pioneer in data-driven intelligence and delivering lasting value for its customers.”
Originally posted on Auto Dealer Today