AUSTIN, Texas--(BUSINESS WIRE)--CarStory, the automotive AI platform from Vast, today announced two new U.S. patents: Predictive Conversions Systems and Methods and Market Relative Position Engine. CarStory's AI-driven platform helps both consumers and dealers make confident decisions around buying and selling cars, and these patents continue to enhance the CarStory product line.
"As the competition and cost of traffic continues to increase, companies need better ways to engage the traffic they have and convert that traffic at a higher rate," said John Price, CEO at Vast. "With our Predictive Conversions Systems we can maximize the return on traffic. Our Methods and Market Relative Position Engine takes something very complex—understanding how a vehicle fits in a local market—and makes it simple."
The CarStory Predictive Conversions Systems and Methods patent details the methods for gathering intelligence based on every interaction to help predict conversion rates. Increasing conversion on a marketplace or dealer site is second only to traffic, and increased conversions equal increased revenue.
The CarStory Market Relative Position Engine patent builds on top of AI-based models to identify and rank competition. This display is unique in the ability to communicate multiple variables in a simple 2-D chart. Making big data easy to understand is as important as the analytic itself, and with this patent CarStory continues to pioneer packaging automotive analytics to make it easy for consumers and dealers to make critical decisions.
To date, these two patents bring CarStory’s total count to 11 with an additional ten filed waiting for issuance. CarStory’s ongoing innovation positions the platform at the forefront of automotive AI.
Powered by the industry’s largest database of inventory and shopper insights, CarStory uses artificial intelligence (AI) and machine learning to help both consumers and dealers make confident decisions. With a network of over 10,000 dealers nationwide, and touching over 15 million consumers a month, CarStory is the leading automotive analytics platform in the industry. To learn more or sign up, visit: carstory.ai.
Vast is the leader in Automotive Vertical AI for automotive industry, applying domain knowledge, expertise and content to service customer-acquisition, vehicle sales and data analysis. Vast’s auto platform, CarStory, supports a number of products including CarStory Market Reports and CarStory.com. Founded in 2005, Vast is the premier provider of automotive big data solutions for the largest brands in automotive. Learn more at vast.com.