By CRM staff
Toronto, Ontario -- November 2, 2018 -- More customized vehicle valuations are now available to some users of J.D. Power services. A new feature that will enhance and customize each vehicle valuation, referred to as a VIN (Vehicle Identification Number) Based Option, is available to NADA values online subscribers.
The feature utilizes packaging, content and descriptive features specific to a vehicle's entire 17-character VIN to enhance and customize each vehicle valuation instead of the basic 11-character VIN.
Currently, an 11-digit VIN only provides basic information such as make, model and engine, meaning there is limited understanding about the vehicle you are researching. Now, with the marriage of the data tied to the full VIN from J.D. Power's transaction database, the VIN Based Option feature provides a precise, uniquely adjusted vehicle valuation, down to specific features and options installed in that specific vehicle.
"This tool has really taken vehicle valuation to the next level and provides subscribers with extremely valuable information at any stage of the process when buying or selling a used vehicle," said Jonathan Banks, vice president and general manager of Vehicle Valuations at J.D. Power.
The VIN Based Option is a comprehensive tool supported by EpiAnalytics' proprietary software, which correlates relevant data to the VIN using artificial intelligence (AI). In addition, EpiAnalytics delivers access to additional millions of vehicles beyond the millions included in the J.D. Power database from CarStory.
"Identifying specific vehicle options, packages and trim within the 17-digit VIN provides users the ability to precisely price and accurately compare vehicles," said president of EpiAnalytics Inc, Jim Vecchio.
"These traits are on full display in the NADA Values experience. Analyzing more than eight billion different data points using its own computer vision and machine learning do accurately describe a vehicle, this approach not only saves dealers time, it also leads to the most accurate valuations available on the market today," said president and chief product officer of CarStory, Chad Bockius.