Manheim Uses Artificial Intelligence to Add Personalized Vehicle Suggestions to OVE
While artificial intelligence might seem futuristic, many companies have been using it for years, analyzing search behavior to display personalized, relevant content. The same way Amazon and Netflix serve up personalized suggestions based on past viewing behavior, Manheim uses client bidding and buying behavior to suggest vehicles on OVE, a digital store within the Manheim Marketplace. These personalized vehicle suggestions are driven by M LOGIC™, a suite of advanced decisioning products from Manheim that bring the power of Cox Automotive data to the remarketing industry.
Dealers will automatically see a curated selection of personalized vehicle suggestions after logging into the OVE home page. Based on the dealer’s recent bidding and buying history, up to 15 vehicles available for sale are displayed in a carousel-style format. The carousel is regularly updated to continually present the most suitable vehicles for each specific dealer. This feature helps dealers discover relevant vehicles more quickly and easily without even having to search.
“Providing a personalized experience is part of Manheim’s ongoing commitment to help its clients become more efficient and profitable,” said Dr. Ben Flusberg, associate vice president of M LOGIC. “Like we’ve done already on Manheim Express and Manheim Market Report (MMR), we are using AI to bring the right OVE inventory to clients at the right time. Based on the strong digital engagement we’ve seen since we started rolling out this new feature last month, we know that proactively offering personalized vehicle suggestions is helping dealers save time.”
With 24/7 access to the world’s largest digital inventory, OVE is the one place to search over 130,000 listings daily from commercial and dealer inventory, independent auctions and Manheim. In addition to seeing adjusted MMR pricing, clients can access condition reports, post-sale inspections and other assurance products to boost buyer and seller trust and confidence in online transactions.
OVE serves 77,000 active users and more than a million monthly visits while handling approximately 650,000 competitive marketplace transactions annually.
Dealers can join Flusberg for his NADA Show 2020 session titled “How AI Helps Dealer Make Faster, More Profitable Decisions” on Friday, Feb.14, and Sunday, Feb. 16, to learn more about using AI-driven tools to buy and sell inventory more efficiently and profitably.
About Manheim (www.manheim.com)
Manheim® is North America’s leading provider of end-to-end wholesale solutions that help dealer and commercial clients increase profits in their used vehicle operations. Through its physical, mobile and digital sales network, Manheim offers services for inventory management, buying and selling, floor planning, logistics, assurance and reconditioning. With its omni-channel approach, Manheim Marketplace enables wholesale vehicle clients more efficient ways to connect and transact business how and when they want. Approximately 17,000 team members help Manheim offer 7 million used vehicles annually, facilitating transactions representing nearly $61 billion in value. Headquartered in Atlanta, Manheim North America is a Cox Automotive brand. For more information, visit http://press.manheim.com.