In 2016, Dealer Tire executives posed a salient question to the 100-year-old company’s fledgling data science team: Can we predict when each consumer will need tires? The answer — critical for a company that must get to customers before they buy tires somewhere else — was a resounding yes.
“It was the first ‘a-ha’ moment,” Chris Schron, Dealer Tire’s director of data science, tells CIO.com. “We realized if we could build some predictive models to answer that question, it could really add value.”
That has paved the way for Dealer Tire, a retail chain that sells tires and other automotive parts, to leverage analytics to create new data products and consulting services it could sell to its dealerships and auto-manufacturer partners. The value-added distributor is betting that big data will yield big money.
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Source: News