FREDERICK, MD and MCLEAN, VA – The National Auto Auction Association (NAAA) and NAAA's subsidiary, NAAA Services Corp., will enter into agreements with the National Automobile Dealers Association Analytical Services Group (NADA ASG), formerly known as the N.A.D.A. Official Used Car Guide Co.
The agreements are related to a new analytical tool known as AutoVector, a Web-based business intelligence application that enables analysis on AuctionNet wholesale transactional data, used-car valuations, and key macro-economic indicators.
AutoVector will provide users information from AuctionNet wholesale data and used-vehicle values, as well as economic data, according to NAAA and NADA. A pre-defined set of charts and graphs are included with the application and allow for data manipulation and personalized monitoring of industry trends, major pricing impacts, and residuals. Also standard are the dashboards with key performance indicators that include the most helpful and commonly pulled information to use as a reference point on a daily basis. Granular data levels are attainable and, for power-users, optional advanced analytic capabilities can be added. Export features also exist once a report has finished running.
AutoVector can be used to track market activity, set floors at auction, help source inventory, and make purchasing decisions, helping to reduce risk, improve forecasting, and more efficiently allocate stock, according to NAAA and NADA.