By Andrew Thurlow, Crain News Service
WESTLAKE VILLAGE, Calif. (April 24, 2014) — J.D. Power and Associates is acquiring analytics company Korrelate Inc. in a move to measure and track consumer online shopping behavior and purchase trends better, Power said April 23.
Korrelate provides data to advertising agencies, advertisers, media partners, data syndicators and publishers that analyzes and correlates online shopping behavior with purchase data.
Combining Korrelate’s data with J.D. Power’s Information Network, which measures data on new- and used-vehicle retail transactions, the company “will be able to identify which websites and ad campaigns shoppers are exposed to before they buy their vehicle,” J.D. Power said in a statement.
Financial terms of the deal were not disclosed.
The move will create an “unparalleled data and analytics platform to measure the effectiveness of digital advertising spending,” Westlake Village-based Power said.
“The auto industry spends billions of dollars annually on digital marketing,” J.D. Power President Finbarr O’Neill said in a statement. “Measuring online activity and linking it to actual vehicle sales will enable marketers to measure and optimize their digital strategy.”
The acquisition of Korrelate, based in Orlando, Fla., will also help ad networks and online publishers accurately report the effectiveness of online ads.
“Offline sales measurement is the future of the automotive industry’s efforts to measure the success of online campaigns,” Christian Kugel, vice president of consumer research and analytics at AOL, a Korrelate client, said in a statement.
This report appeared on autonews.com, website of Automotive News, a Detroit-based sister publication of Tire Business.
What is the most pressing issue facing your dealership in 2017?
|Finding skilled, qualified workers||
71% (103 votes)
|Competition from online tire sales||
16% (23 votes)
|Managing marketing and social media efforts||
7% (10 votes)
|Upgrading our shop’s technology and equipment||
5% (7 votes)
2% (3 votes)
|Total votes: 146|