New company revolutionizing dealers’ inventory management
Predian is announcing the launch of their revolutionary cloud native Artificial Intelligence (AI) powered inventory management solution. Offering predictive analytics and extensive data mining through AI and Machine Learning (ML), Predian is set to transform how dealers manage their inventory, leading to higher profits and significantly reducing time to sales.
Until now, the inventory management system was a division of Redline Automotive Merchandising. From now on, and under a new name, Predian will operate as a standalone business supporting automotive dealerships and several lot service companies directly. Serving more than 1,000 franchise dealers and growing, with this move, Predian will be able to turbocharge its innovation focus on inventory management and maintain the high level of service the company is known for by its customers.
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What sets Predian apart from other inventory management systems are three areas, all powered by AI/ML: Merchandising, Predictive Analytics, and Business Intelligence.
- Merchandising includes AI-guided photo capture and background removal, as well as AI-created VIN descriptions to ensure high-quality, consistent, and compelling content on every piece of inventory.
- Predictive Analytics enables dealers to make decisions based on what the market will look like in the future, all by leveraging advanced data modeling and machine learning to provide forward-looking guidance based on the VIN. Predian’s ValueVision will use predictive analytics to show a dealer what the retail price will be 30, 60, and 90 days out and incorporate that data into the inventory management strategy and pricing, and SmartTurn estimates turn time-based on the set market price. This gives dealers the most information to make the right decision at the right time.
- Business Intelligence offers dealers the unlimited ability to combine and compare data based on the key drivers for the dealership’s performance.
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“Artificial Intelligence and Machine Learning will revolutionize how dealers manage their inventory,” said Mike McGlade, CEO of Predian. “With Predian, dealers can dive into their inventory data to make better decisions and ensure they move vehicles quickly and profitably. Our goal was to make an easy-to-use solution that gives dealers access to every possible data point to make the right decisions for their dealership. It’s all about the data.”
Predian can help determine the right inventory to stock and where to price it by analyzing historical sales data, market trends, and customer behavior — preventing overstocking, reducing carrying costs, and minimizing risk. Predian is entirely cloud-native, enabling powerful and innovative updates to be regularly made.
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Predian has hired a team with deep inventory management and automotive experience. Merritt Critcher, who has decades of experience in inventory management at Dealertrack, DealerSocket, and Solera, heads up product development, and Stephen Batten, who has years of experience at Redline, Impel, Experian, and Reynolds and Reynolds, serves as the Chief Revenue Officer – along with McGlade who has served as the CEO of Redline since 2019.
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