SAS(r) predictive analytics drive TrueCar forecast accuracy
CARY, NC (Sept. 13, 2010) - TrueCar.com , the authority on new car prices, selected SAS Office Analytics for Midsized Business and SAS forecasting software to improve marketing campaigns, industry sales forecasts, and reports on pricing and trends. The software from SAS, the leader in business analytics, replaced SPSS, which TrueCar had quickly outgrown. SAS, the industry standard for analytics, makes fast work of analyzing a rolling set of 3 million transactions on as many as ten data sources each week. Easy-to-use SAS Office Analytics for Midsize Business delivers data access, reporting and analytics directly from Microsoft Excel via integrated menus and toolbars. SAS forecasting software measures and predicts the benefits of marketing investments.
TrueCar's return on investment was significant. From data integration to predictive analytics, SAS made a quick improvement for this company of 40 employees. Up and running the first week, analysis that formerly took nine hours was done in an hour, freeing up valuable analyst time for developing new products and services. SAS helped optimize marketing campaigns, producing reports that once took two hours in 15 minutes. SAS also identified fertile grounds for search engine marketing expansion. Since using SAS, search campaign revenue has grown threefold while costs per user have dropped.
"Before SAS, we couldn't reliably forecast industry car sales," said Mike Swinson, VP of Data Analytics at TrueCar.com. "Using SAS forecasting software to analyze car prices, we create industry sales forecasts that account for fluctuations caused by the economy, market conditions and seasonality. Accurate forecasts have brought TrueCar the credibility that customers, dealers and partners require. The greater our accuracy, the greater benefit we provide to both dealers and consumers."
TrueCar executives can now access an interactive dashboard packed with predictive insights, such as the effect of marketing spend on site traffic. Summary information on new car pricing prepares them for meetings with press, partners and investors. Powered by analytical insights, TrueCar remains the "go to" source for new car prices.