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Interview with Gahl Berkooz

Vice President of Data, Analytics, and Monetization, ZF Group

Panel to Discuss Using Data to Make Money and Better Serve Consumers


OEMs need to consider data monetization at the forefront of their data strategy!

Automotive OEMs are making huge investments in hardware, connectivity, and infrastructure to collect and manage the data that comes from vehicles. How to effectively use that information is one of the main opportunities within the automotive industry today.  To make all this data make sense, OEMs must be able to monetize it, and that should be at the forefront of their data strategy.

Having consistent and effective monetization strategies is about understanding what business problems the data can answer and how it can benefit consumers. This strategy needs to be clear-cut, practical, and tied to solving problems, such as reducing insurance rates and costs of services, or generating revenue.

ZF takes a pragmatic approach to data monetization, studying all vehicle systems as generators of data and discovering precise benefits that can be derived from that evidence, either in the form of predictive maintenance or personalization and optimization of the vehicle experience. “We have very specific business-use cases with tangible business values associated with them, and that benefits our OEM customers and us. Those who attend the panel will get insights on this very specific approach.”

Data privacy is a big concern for consumers, and rightly so. OEMs are going to have to figure out how to give consumers the level of comfort needed to build the trust. As the OEMs collect massive amounts of consumer data, OEMs have a responsibility to manage this data to the gold standard set by financial institutions. The financial sector has not been immune to data breaches, and OEMs need to learn from all those experiences to make sure it does not happen in the future. As an industry, we need to make sure the consumer is clear that the data is used for purposes that benefit them and that they understand how the data is used for their benefit.

It is all about data monetization that's what we collect THE DATA!  Data monetization needs to be tangible and practical and tied to solving problems either for consumers or businesses. I think that's really when you know monetization is going to happen.

Data strategies for OEMs are a hot topic. What crucial tips would you give to OEMs who are focusing on this area?

  


I would suggest that the OEMs need to consider data monetization at the forefront of their data strategy.  OEMs are making huge investments in connectivity and hardware in the vehicle to support the connectivity and in infrastructure to collect and manage the data that comes from the vehicle.

To make all that make sense OEMs need to be able to monetize the data. I would tell OEMs that a data strategy is all about data monetization.

Consumer concern about data privacy and sharing has grown. How can the industry help to ease consumer worries?

 


As the OEMs collect massive amounts of consumer data there's going to be an expectation that they will manage this data to the gold standard and the gold standard today is financial institutions.  OEMs are going to have to figure out how to give consumers the level of comfort needed to build the trust that they are managing data to the highest standards.

In the past financial institutions have had data breaches, OEMs need to learn from all those experiences and make sure that it does not happen in the future. As an industry we need to make sure the consumer is clear that the data is used for purposes that benefit them and they understand how the data is used for their benefit.

What are the main challenges for big data and analytics within the automotive industry?

 


Again, I want to talk about monetization because the reason we collect a lot of data and we do a lot of analytics is to make money out of it and how you make money with data is an interesting question.  It is really about understanding what business problems the data that you have can solve and how you can benefit the consumer.

In this case, essentially through financial means such as lower insurance rates, lower costs of services and things like that.  I think that having consistent and effective monetization strategies is really the challenge for big data analytics in the automotive industry.

In just 2 sentences, what can our audience expect to learn from your panel discussion?

  


At ZF we have a very pragmatic approach to data monetization.  We look at all the vehicle systems that we have as generators of data, we look at very specific benefits that can be derived from that data either in the form of predictive maintenance or personalization and optimization of the vehicle experience.

We have very specific business use cases with tangible business values associated with them and that really benefits our OEM customers and us. I think that those coming to the panel will get insights on this very specific approach and they may be able to learn something.

Consumer Telematics Show 2020


WHAT WILL BE THE NUMBER 1 TAKEAWAY FOR THE AUDIENCE?
WHAT WILL BE THE NUMBER 1 TAKEAWAY FOR THE AUDIENCE?

That’s pretty simple, it's all about data monetization that's what we collect THE DATA!  Data monetization needs to be tangible and practical and tied to solving problems either for consumers or businesses. I think that's really when you know monetization is going to happen.

WHAT ARE YOU MOST LOOKING FORWARD TO CONSUMER TELEMATICS SHOW?
WHAT ARE YOU MOST LOOKING FORWARD TO CONSUMER TELEMATICS SHOW?

I think it's going to be a great show, there is going to be great content and I am looking forward to seeing everybody there!

JOIN Gahl Berkooz, Vice President of Data, Analytics, and Monetization, ZF Group AT CONSUMER TELEMATICS SHOW 2020