Cazana’s proprietary data allows automotive companies to get a total market view of second hand value and pricing trends. Using big data combined with natural language processing, Cazana can extract detailed information from every car advertisement so that an accurate picture of vehicle value can be built up, including the individual values of trim levels, upgrade packs (e.g. Chili pack) and upgrades. The platform makes data from over 7000 sources instantly available and permits pricing trends to be determined more accurately and for more vehicles than with traditional data sources.
The BMW Innovation Lab 2016 was a great opportunity to access all areas of BMW Financial Services, understand more about their business and how our big data and systems could help them. It gave us insight into our customers’ requirements and a chance to develop a product that encompasses these needs. Such insight is crucial in ensuring we can demonstrate value and tackle pain points faced by the industry. Since the lab, we’ve engaged commercially with BMW to provide our valuation insights and are working to build a long-term legacy from the programme.
Tom Wood, founder of Cazana.com