The data flywheel breaks down the three pillars of data-driven car companies: data analysis, market profiling, and A/B experiments.

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Recently, the Volcano Engine Digital Intelligence Platform (VeDI) 2023 Data Flywheel Automotive Industry Seminar was held in Shanghai. The event focused on the pain points of the digital transformation of the automotive industry, from three aspects: ByteDance's own data-driven experience, the implementation of the data flywheel model, and the practice of enterprise-side scenarios. Explain how the data flywheel invigorates data consumption in the automotive industry.        


From left to right, the sharing guests are: Guo Dongdong, head of data products of Huoshan Engine, Jia Sijie, deputy general manager of Huoshan Engine Automotive Industry, Xiao Ran, head of data product solutions of Huoshan Engine, and Zhu Jingyun, head of data product solutions of Huoshan Engine Automotive Industry


Data Flywheel is a new paradigm for enterprise digital intelligence upgrade based on ByteDance's more than ten years of data-driven practical experience. Data Flywheel is driven by data consumption as its core and can help enterprise data flows fully integrate into business flows and realize the mutual interaction between data assets and business applications. Promote the flywheel effect, thereby stimulating employee creativity, enhancing business development momentum, and enhancing organizational vitality."


Volcano engine data flywheel diagram


For automobile companies, data drive runs through the entire life cycle of the automobile including design, R&D, manufacturing (production), marketing, sales, and after-sales. Especially in the marketing link, it is necessary to fully understand where the target market population is, and to continuously Break down the finer-grained personalized needs of the target group, thereby formulating a more comprehensive marketing strategy and achieving more precise marketing reach.


Currently, one of the data flywheel solutions implemented in the automotive industry, the Volcano Engine Automotive Global Marketing Solution, can provide automotive companies with seven dimensions, including advertising traffic, lead invitations, in-store test drives, user operations, super APPs, and after-sales services. Provide services that fully meet business needs.


“The essence of the data flywheel is to help enterprises become data-driven better and faster,” the relevant person in charge said in the sharing. “Not only the automotive industry, but also industries such as finance, the Internet, and even seemingly more traditional catering industries are all We are actively investing in data-driven things." At the same time, she also pointed out that the three pillars for enterprises to practice data-driven are to clarify "what needs to be done" through data analysis, and then judge "who to do it for" through market portraits. Finally, A/B is implemented to determine [how to do it]. "The correct answers to these three questions can actually be found through the operation of the data flywheel." She added.


In addition to discussing the latest solutions and implementation of Data Flywheel in the automotive industry, Guo Dongdong, head of data products at Volcano Engine, also focused on the progress of Data Flywheel’s active integration of new technologies including large model capabilities: Big Data R&D Governance Suite DataLeap - data search assistant and development assistant, intelligent data insight DataWind - analysis assistant.


Through the application of large model capabilities, DataLeap-Data Search Assistant can help automobile entrepreneurs find corresponding data in the database through natural language question and answer under the condition of authorization; while DataLeap-Development Assistant can help employees find the corresponding data in the database through natural language question and answer. In the form of language question and answer, code is automatically generated or code is repaired and optimized, further lowering the threshold for data development.


In terms of data analysis with a wider range of usage scenarios, DataWind-Analysis Assistant allows employees of automobile companies to conduct multi-dimensional cross-analysis and multiple forms of data presentation using only natural language conversations, such as for cross-regional vehicles with strong real-time characteristics. For sales statistics, employees in sales positions only need to enter the data they want to obtain in the DataWInd-Analysis Assistant dialog box, and can obtain the corresponding data without waiting for cross-department demand response schedules such as data development and data analysis, saving time and effort. .


“Intelligence is the last mile for the data flywheel to effectively rotate,” Guo Dongdong said. “In the future, we will also introduce more high-quality technologies to help automobile companies continue to lower the threshold of data consumption, forming a system where data drives business improvement and business drives data efficiency. A two-way positive cycle.”


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