J.D. Power, a global data analytics and customer intelligence firm, has acquired the data and predictive analytics business of We Predict, a United Kingdom-based provider of global automobile service and warranty analytics. The business will become part of the global automotive division at J.D. Power.
We Predict’s software is used by auto manufacturers and suppliers to project future component failures and future warranty claims and costs. J.D. Power plans to leveraged the software to enhance its vehicle quality and dependability analytics, expand repair cost forecasting, and provide critical valuation data.
“Robust data and powerful analytics that help manufacturers, suppliers and consumers better predict future repair costs are a key link in the auto industry value chain that will only become more important as fleets of new electric vehicles start rolling off the assembly line,” said Dave Habiger, president and CEO of J.D. Power. “By augmenting our existing offerings with We Predict’s forecasting software, we will be able to deliver a more complete, detailed view of repair-related costs to better anticipate financial risk exposures.”
We Predict software uses machine learning and predictive analytics to develop detailed projections of future warranty claims and repair costs for the global automobile industry. Drawing on a database of billions of service records, We Predict can forecast true vehicle ownership costs, residual values, repair and warranty claims costs, and more.
James Davies, CEO of We Predict, will become vice president of repair analytics and data at J.D. Power.
