Black Book Launches VIN-Level Valuation Tool
Black Book’s ValuEngine batch-processing tool now includes the big-data and machine learning-backed Enhanced Vehicle Matching tool.
LAWRENCEVILLE, Ga. — Black Book (div. Hearst)’s ValuEngine batch processing tool now offers Enhanced Vehicle Matching, a “more precise” VIN-level valuation tool powered by machine learning and natural language processing, the company announced.
Executives noted that approximately 30% of VINs do not decode to a single trim level. Furthermore, adjusting values for vehicle equipment often requires manual interaction. Enhanced Vehicle Matching relies on a process to match 17-digit VINs to a single trim and any applicable add/deducts. The process analyzes millions of records daily from numerous data sources including build data received from OEMs, all according to the announcement.
“Especially in today’s market, with razor-thin margins and price fluctuations occurring frequently, ValuEngine helps automotive industry professionals and lenders precisely value collateral,” said Jared Kalfus, executive vice president of revenue for Black Book. “Enhanced Vehicle Matching helps to decrease multiple trim scenarios while increasing the valuation accuracy.”
Visit Black Book at Booth 501S at NADA Show 2019.
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