10 Ways to Unlock Your Dealership Data’s Potential [PDF]

A dealership generates a lot of data each year. If you aren’t measuring your success, you’re relying on gut feelings and opinions. Track the right success metrics and use the right data.

1. Stop manual data mining and Excel spreadsheets; save days or weeks of work.

Analytics dashboards connect to larger data sets than Excel and update automatically, offering a real-time, complete view of your business.

2. Track technician efficiency without manual spreadsheets.

Gain immediate knowledge of technician efficiency, without delay and without many hours of time-consuming data conversion or entry.

3. Control the work-in-process monster; reduce time to billing.

Prevent the WIP list from accumulating into days or even weeks of labor postings, which can represent tens or hundreds of thousands of unrealized dollars.

4. Share goals and statuses with employees to improve engagement.

Foster a transparent culture geared towards improvement by making progress updates accessible to your team.

5. Optimize your parts investment; improve your use of the capital sitting on your shelves.

Controlling your parts on hand and matching your stock to customer usage will greatly improve your return on capital.

6. Track details of customer spending; increase share-of-wallet.

Analyze customers’ current spending patterns and retention rates. By sharing this information with customers, you can enhance transparency and build trust.

7. Check your financial standings at any time; act early to correct them.

See your financial standings at a glance and up-to-date so you can take corrective action faster than if you were to use manual reporting.

8. Analyze evolution, chart progress, and assess process changes.

With dozens of variables affecting results by branch by month, evolution analysis helps observe trends, advise actions, and see their effects.

9. Build a budget to achieve your goals; share with managers to achieve them.

Make annual or multi-year performance goals meaningful by empowering team members to implement immediate process changes that help achieve those goals.