Data-Driven Business Intelligence Boosts Profitability - Tire Review Magazine

Data-Driven Business Intelligence Boosts Profitability

Centered on a business-building theme, Tire Review's new data section, Rolling with the Numbers, will provide business intelligence in key shop operations areas to help boost tire dealer profitability.

The power of data drives decisions that fuel growth and boost profitability. Data also empowers business leaders and marketers to create business processes that enhance productivity, predict consumer behavior, spot market trends and formulate strategies based on facts and statistics.

In our world, insights into various market dynamics can help fine-tune tire and parts inventories, tweak operations to position your dealership for increased market share, provide innovative solutions for customers and to deliver first-class service, and safeguard and grow your business for the long term.

With that said, we’ve created a new special section that will run from July through December where we’ll share market data based on research conducted with our independent tire dealer audience.

Centered on a business-building theme, this special research package will provide business intelligence in key shop operations areas to help boost tire dealer profitability.

This month, we’re presenting data in the area of productivity/shop operations in our Rolling with the Numbers data series. You can find it here. This month includes a look at average daily car count, number of bays, technician certifications, average number of tire brands carried and more. Next month, we’ll take a look at leadership/creating a positive work environment, shop management/supplier relationships and employee recruitment/retention.

Profitability-related topics in upcoming issues will include:

  • Customer service
  • Sustainability
  • Technology in the shop
  • Shop culture/teamwork
  • Sales and marketing
  • Equipment investments
  • Boosting cashflow/making more money on service

By sharing these insights with you, our goal is to help you boost productivity and profitability; hone your business operations strategies; identify market trends; increase tire replacement and service revenue; leverage best practices; develop a cohesive and dynamic team culture, and deliver the highest-quality repairs.

Time devoted to prioritizing and perfecting these business building blocks that require daily attention is time well spent.

What strategic investments have you made at your dealership that have paid the biggest dividends? What new processes have you implemented to boost productivity and improve shop workflow? Email me with your thoughts. Our team would love to hear from you.

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