AUSTIN, Texas — CarStory, the automotive AI platform from Vast, today announced two new U.S. patents: Predictive Conversions Systems and Methods and Market Relative Position Engine.
CarStory’s AI-driven platform was designed to help both consumers and dealers make confident decisions around buying and selling cars, and these patents continue to enhance the CarStory product line, according to Vast CEO John Price.
“As the competition and cost of traffic continues to increase, companies need better ways to engage the traffic they have and convert that traffic at a higher rate,” Price said. “With our Predictive Conversions Systems, we can maximize the return on traffic. Our Methods and Market Relative Position Engine takes something very complex — understanding how a vehicle fits in a local market — and makes it simple.”
The CarStory Predictive Conversions Systems and Methods patent details the methods for gathering intelligence based on every interaction to help predict conversion rates. The CarStory Market Relative Position Engine patent builds on top of AI-based models to identify and rank competition. This display is unique in the ability to communicate multiple variables in a simple 2-D chart. Making big data easy to understand is as important as the analytic itself, and with this patent CarStory continues to pioneer packaging automotive analytics to make it easy for consumers and dealers to make critical decisions, all according to the company.
Originally posted on F&I and Showroom