Sophisticated Machine-Learning and Industry-Leading Data and Analytics Combine to Recommend Inventory Acquisition Opportunities to Dealers
Black Book, known in the automotive industry for providing timely, independent and precise vehicle pricing information, today announced it has partnered with Drivably, a leading inventory procurement platform for dealers leveraging artificial intelligence-driven solutions.
Black Book’s automotive intelligence and vehicle valuation data are powering Drivably’s dealer inventory acquisition ecosystem. Drivably’s offering helps dealers seamlessly find the right inventory opportunities by making recommendations based on a variety of criteria including a dealer’s unique preferences, historical dealership performance data, individual market, and valuation data.
Dealers spend an extraordinary amount of time attempting to find the best inventory for their dealerships by appraising, analyzing, and bidding on the cars they think make the most sense for their dealership. Drivably automates the buying process so dealers can not only save time, but also acquire the best inventory for their lots. Through Drivably’s platform, dealers can make more money from the cars they buy and dedicate time to more critical business-related activities.
“Valuation precision is key in inventory acquisition to maximize margin at the retail sale,” said Jared Kalfus, Black Book’s Executive Vice President, Revenue. “Black Book’s data analytics and insights will power the recommendation model that results in the Drivably score, increasing profit potential for each dealer on the Drivably platform.”
Drivably’s model leverages various Black Book data including History Adjusted Valuations and retail market insights, in addition to a dealer’s unique preferences.
“Simply analyzing the local market is not good enough,” said Tyler Hall, CEO of Drivably. “There is other data that is critically important in recommending the right inventory to dealers. As online inventory acquisition becomes more mainstream, it will become increasingly more important to leverage the right data to make the right decisions. With Drivably and Black Book, dealers can trust that our platform’s recommendations are accurate.”
About Black Book
Black Book® is best known in the automotive industry for providing timely, independent and precise vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. Since 1955 Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a Hearst company, and maintains offices in Georgia as well as the Canadian Black Book in Toronto. For more information, please visit BlackBook.com or call 800.554.1026.