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J.D. Power Creates 'AI Cloud'
Automotive industry research pioneer J.D. Power has brought together a range of data assets with cognitive computing and modeling capabilities in an 'AI Cloud'. A new Auto Analytics Platform is the first of a number of launches to be driven by the technology.
 The firm has already partnered with Nielsen on the launch of an 'Auto Cloud' marketing and measurement platform, in August. The new 'AI Cloud' integrates data from the company's proprietary 'voice of the customer' studies with macroeconomic trend and pricing data, to enable new forecasting models.
The initial J.D. Power Auto Analytics Platform is a web-based resource for calculating vehicles' residual value, and will draw on sources including transaction data gathered by the dealer sales-based Power Information Network (PIN); the AuctionNet service; connected car data; and proprietary studies. The last category includes the Initial Quality Study (IQS); Vehicle Dependability Study (VDS); Automotive Performance, Execution and Layout (APEAL) Study; and the Auto Avoider Study. The platform will also provide a detailed breakdown of the various vehicle features, equipment, design and performance factors and their corresponding influence on residual pricing.
Chief Digital Officer Bernardo Rodriguez (pictured) comments: 'J.D. Power has been collecting data on consumer interactions with brands and products for 50 years. With our new AI Cloud technology, we are able to generate more granular and valuable insights, by leveraging data streams that go from gasoline prices and retail sales to customer's perception of the quality or appeal of a specific car model. While automobile residual pricing is a natural starting point to launch the technology commercially, we see enormous potential for these deep data-enabled insights across other aspects of the automotive vertical and across the dozen or so other industries J.D. Power services'.
J.D. Power was established in 1968, is headquartered in Costa Mesa, CA and is a portfolio company of private equity firm XIO Group. A web site at www.jdpower.ai may be visible to those based in the EU, whereas www.jdpower.com , astonishingly, appears still to be off while the firm grapples with GDPR.
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