If you were to decide to sell your car, you would more than likely log onto Kelley blue book to have them evaluate what your car is worth. But KBB has recently made some major changes to the way they determine what your car is worth in its condition. The way Kelley previously evaluated the price of a car was through a database which used a “rudimentary pricing algorithm”. But that is no longer the method Kelley uses; KBB has developed a system of evaluating what a car is worth by using a complicated program which sift through historical and current car information to help better the accuracy of what your car is truly worth. "We went from using megabytes of data to using terabytes of data" for estimating car values, said the vice president of analytic insights technology at Kelley Blue Book. There new system of retrieving data was developed through IBM and it allows them to better retrieve new and old information. The program is called the Netezza Twinfin data warehousing appliance, and the program makes it much easier to update and analyze information on cars. Before Kelley devised the Appliance, they updated car information every 5 months, but with Netezza, they are able to update information for over 20,000 cars each week. Also, to help better price cars, Kelley has began mining social media and web data to help better predict user behavior and make Kelley better known on the internet. Kelley is not the only company using these analytical applications; many larger companies have also began using these methods. It has become common for large and small businesses to use these types of programs because the technology is so readily available “Driving the trend is the growing availability of relatively low-cost, specialized tools for analyzing large sets of structured and unstructured data, according to an upcoming study by The Data Warehousing Institute”. These types of programs that Kelley uses are designed to generate the best possible evaluation for the user, and it can also help Kelley with their credibility of the company as a whole.
If you were to decide to sell your car, you would more than likely log onto Kelley blue book to have them evaluate what your car is worth. But KBB has recently made some major changes to the way they determine what your car is worth in its condition. The way Kelley previously evaluated the price of a car was through a database which used a “rudimentary pricing algorithm”. But that is no longer the method Kelley uses; KBB has developed a system of evaluating what a car is worth by using a complicated program which sift through historical and current car information to help better the accuracy of what your car is truly worth. "We went from using megabytes of data to using terabytes of data" for estimating car values, said the vice president of analytic insights technology at Kelley Blue Book. There new system of retrieving data was developed through IBM and it allows them to better retrieve new and old information. The program is called the Netezza Twinfin data warehousing appliance, and the program makes it much easier to update and analyze information on cars. Before Kelley devised the Appliance, they updated car information every 5 months, but with Netezza, they are able to update information for over 20,000 cars each week. Also, to help better price cars, Kelley has began mining social media and web data to help better predict user behavior and make Kelley better known on the internet. Kelley is not the only company using these analytical applications; many larger companies have also began using these methods. It has become common for large and small businesses to use these types of programs because the technology is so readily available “Driving the trend is the growing availability of relatively low-cost, specialized tools for analyzing large sets of structured and unstructured data, according to an upcoming study by The Data Warehousing Institute”. These types of programs that Kelley uses are designed to generate the best possible evaluation for the user, and it can also help Kelley with their credibility of the company as a whole.
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