SOUTHFIELD, Mich. — IHS Markit won the Michael Bauer International Global Innovation Award in recognition of its innovative solution to address the changing automotive dealer network environment, the company announced.

The honor was bestowed 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 geomarketing techniques and data assets from both automotive and non-automotive fields in a unique, innovative way, according to the announcement.

“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 predicts 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.”