Hyundai UK has partnered with automotive data solutions provider Loop to enhance the performance of its retailer network through data-driven insights.
The partnership will focus on improving productivity and profitability, as well as ensuring consistency across Hyundai’s UK retailers by using advanced data analytics.
Loop will provide Hyundai with its ‘Balanced Scorecard’ solution, designed to track 30 key performance indicators (KPIs) across the 148 retailers in the UK.
According to Loop, the scorecards will not only identify which retailers are excelling or underperforming but will also delve into the reasons behind their performance.
The company added that its Balanced Scorecard will also streamline the performance analysis process for Hyundai, replacing manual methods with real-time data and actionable insights.
The solution is designed to provide flexibility in reporting, allowing results to be viewed across various hierarchy levels such as retailer, group, area, or region.
It also supports customisation through editable KPIs, helping Hyundai to tailor the data to its specific needs.
Loop’s platform combines KPI reporting, scorecards, action plans, field team visits, and retailer audits in a single secure location. It also includes features such as sales funnel management and target setting.
Loop CEO Simon Porri said: “Partnering with Hyundai, one of the world’s biggest and best automotive brands is a real testament to the solution we have built. They work with hundreds of retailers and our data-led approach will help reduce dispersion within their network.
“We will drive efficiency through their retailer operations, providing them with actionable tips based on what drives the most improvement, helping each retailer improve faster to maximise revenue.
“Loop is designed to close the gaps that manual data monitoring leaves, making it easier for an automotive brand’s whole network to operate at its best.
“Our Balanced Scorecard provides the tools and insights needed to bring every retailer up to speed, building competition in the network and working towards a more consistent performance across the board.”
Developed by experts with more than two decades of automative experience, Loop’s Balanced Scorecard is already in use by 20 brands, including Audi, Volkswagen Group, Suzuki, and Honda.
“Hyundai partners with Loop for data-driven retailer insights” was originally created and published by Motor Finance Online, a GlobalData owned brand.
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