The Benefits of OEM Build Data
Increased access to data is revolutionizing industries. Think about your experience on Amazon.com and the relevancy of their recommendations. Or how music sites like Pandora and Spotify learn about your preferences and serve up more relevant selections the more you use them. These companies provide greatly enhanced customer experiences through leveraging better data.
The automotive industry is experiencing increasing interest for “OEM Build Data”. OEM Build Data can be defined as window-sticker-level information on any particular individual vehicle (VIN-number), providing a comprehensive view of all vehicle descriptors, including Year, Make, Model, Trim, Color, Interior, Standard Equipment, Packages and Options. Build Data also includes the vehicle’s base MSRP price, as well as the individual MSRP prices of each package and option.
OEM Build Data will enable many valuable “use cases” in the industry, including:
- Better consumer online shopping experiences
- Labor savings for vehicle inspectors
- More accurate and robust vehicle marketing
- Better vehicle resale values
- Insurance industry accuracy and savings
- More accuracy with vehicle valuations/pricing guides
- More efficiency and accuracy in the trade-in process
- Better VIN-decoding
While the industry has discussed the benefits of widespread access to OEM Build Data for decades, it seems like we’re only now on the cusp of enabling these powerful “use cases” by unlocking the power of this data set.
The small number of sources today for OEM Build Data are very restrictive in the permitted uses of the data, but that’s about to change with new sources such as OEMBuildData.com.
We look forward to the innovation and customer benefits access to this data will deliver to the industry.
About the Author
Steve Greenfield is CEO/Founder of Automotive Ventures, LLC, an Atlanta-based company seeking out ideas and companies with business models that offer a unique and compelling value proposition and are solving big problems in novel ways.
One of their portfolio companies, OEMBuildData.com, provides automotive manufacturer “build data”: VIN-specific vehicle details down to the level of exterior color, interior, packages and installed options. This allows industry players to get information on the configuration of each vehicle OEMs are building on their production lines.