The investment will see the new team of experts work across a range of industry sectors bringing innovation to the way that data is used in the automotive supply chain.
Led by Mark Barrett, head of international data science & analytics, the team comprises eight data scientists who have international backgrounds and language skills.
The team uses a mix of machine learning, forecasting, automation, analysis, science and data visualisation to help customers benefit from big data and the latest technology. Advances in technology are helping cap hpi to work in real-time with big data sets. The company possesses UK data dating back to 1903.
Mark Barrett said: “As an international team composed of different nationalities we have a variety of different perspectives and approaches when we bounce ideas around and create solutions. This is imperative as cap hpi now has teams in France, Slovakia and Germany operating across Europe as part of its global expansion plans.
“Our focus is on creating internal and external online solutions that can scale to anywhere in the world, whilst being adaptable to local markets. We’re constantly making improvements to our models to help us remain accurate for every vehicle, in every market, every day.”
A recent analysis by the team led to the production of tools capable of identifying future classic cars and understanding the international market opportunity for electric vehicles.
As cap hpi continues its expansion into more countries, the data science team is gaining access to more data enabling it to create unique insights, products and understanding.
Mark added: “As dedicated data scientists, we aim to tell interactive stories with data rather than just publish in spreadsheets. We aim to generate an emotional response from the insights we create, as it helps us question, and investigate areas that give us unexpected results. These insights start the conversation with internal and external clients and help us understand the market in even more detail.
“We’re currently developing several new products for the market – helping manufacturers, dealer groups, and finance houses find key information quickly, in an understandable format so they can make increasingly informed decisions to help increase sales and remain competitive. Working in an agile manner directly with manufacturers has strengthened our products and ensured that we’re delivering cutting edge, useful work.”