Today Vast announced CarStory, an iPad application that uses big data and complex analysis to help automotive sales associates partner with their customers throughout the sales process. CarStory uncovers the information to address each customer concern and drive momentum toward a vehicle purchase. The app makes it possible for dealership sales associates to reveal the unique attributes behind each car and build the value for the customer.
As the seven-year-old big data behemoth in the automotive space, Vast analyzes market signals from roughly 100 million used car searches across hundreds of online automotive sites each month. CarStory's insights have been carefully developed by Vast data scientists, evaluated by industry experts, and battle-tested on the lot by dealers over several years. "We not only know what's out there," explains Vast President Ben Cohen, "we uncover previously unattainable insights about why each car is unique and what makes it right for a buyer. We aren't simply supplying the data - we're putting it to work for the dealer."
Vast CEO John Price has been moving Vast toward CarStory for years. As a 30-year veteran in the Artificial Intelligence space, Price has seen a similar trend develop over time. "Just like Artificial Intelligence before it, Big Data is an incredible technology platform with unlimited potential," remarks Price. "The challenge Big Data has seen is in how it can add significant business value. For the automotive industry, CarStory is doing just that."
Lead advisor on the CarStory application is renowned former AutoNation CMO Gary Marcotte. "When I retired from AutoNation, I knew there was more I could do to help dealerships," says Marcotte. "CarStory offers remarkable insight into each car, along with the transparency customers need to feel comfortable moving forward in the process."
Several automotive dealerships have already deployed CarStory with their sales associates. CarStory's positive impact on sales is already obvious at Red McCombs Hyundai in San Antonio, Texas, where the application has been universally adopted. "These days, customers often spend hours researching our cars online before they arrive at one of our dealerships," says Red McCombs Analyst Zack Freed. "With CarStory, our associates can instantly provide further insights, beyond what's available to customers online. CarStory's big data has made us a more valuable resource to our customers in every sale."
More information about Vast's CarStory application can be found on carstory.com. The application is also available in the Apple AppStore. Note: CarStory requires Vast and Dealership approval for full functionality.