Predian AI, a newly launched spinoff company, is poised to transform inventory management for automotive dealerships and lot service companies. Powered by artificial intelligence (AI) and machine learning (ML) technology, Predian offers predictive analytics and data mining capabilities, leading to higher profits and faster time to sales.
With over 1,000 franchise dealers already being served, Predian aims to amplify its innovation focus on inventory management while maintaining its current level of service. CEO Mike McGlade believes that AI and ML will revolutionize how dealers handle their inventory, allowing them to make informed decisions and optimize vehicle turnover.
The company’s state-of-the-art AI/ML system powers various aspects of inventory management including merchandising, predictive analytics, and business intelligence. Predian leverages AI-guided photo capture and background removal to ensure high-quality, consistent, and compelling content for vehicle listings. Additionally, the system generates AI-created VIN descriptions, enhancing the overall customer experience.
Through predictive analytics, Predian grants dealers the ability to plan ahead by analyzing future market conditions based on advanced data modeling and ML algorithms. The ValueVision feature predicts retail prices for the next 30, 60, and 90 days, enabling dealers to incorporate this data into their pricing and inventory management strategies. Moreover, the SmartTurn functionality estimates the turn time based on the current market price.
Business intelligence is another key offering by Predian. Dealers gain unlimited access to data that allows them to analyze key performance drivers and make informed decisions to enhance their dealership’s operations.
Predian’s leadership team, consisting of industry experts, underscores the company’s commitment to excellence. Head of product development, Merritt Critcher, brings extensive experience in inventory management from reputable companies such as Dealertrack, DealerSocket, and Solera. Chief revenue officer, Stephen Batten, has a wealth of experience with Redline, Impel, Experian, and Reynolds and Reynolds. CEO Mike McGlade, who has been at the helm since 2019, ensures the company’s strategic direction aligns with its mission to revolutionize inventory management for dealerships.
As dealers increasingly recognize the importance of leveraging AI and ML technologies to optimize their inventory management processes, Predian stands as a trusted partner in the automotive industry, enabling dealerships to maximize profits and deliver superior customer experiences.