EY announced that it is collaborating with Microsoft to launch EY Synapse Automotive, a broad data analytics solution that addresses critical business challenges for the automotive industry in areas such as quality and warranty, marketing and sales, and project planning.
The solution expands decision-making capabilities by combining machine learning and advanced analytics techniques, data visualization and business process applications, according to the company. For example, organizations can use the newly formed EY Synapse Automotive to validate incentive rebate and warranty claims, improve demand forecasting and inventory management for parts, or create models that can help to improve their vehicle allocation processes.
The automotive analytics solution is provided via EY Synapse, the EY global analytics-as-a-service (AaaS) platform that helps accelerate the provision of analytics-driven insights and can support businesses to operate and compete more effectively.
“EY Synapse Automotive is designed to help companies rapidly deploy analytics capabilities that drive actionable insights within weeks instead of months and translates these insights into immediate cost savings and new revenue opportunities,” said Derek Huffman, EY Global Automotive analytics leader. “Automakers will be able to confront the challenges of growing their core businesses and achieving efficiencies as they invest in mobility ecosystem development and forward-looking automotive solutions.”
EY Synapse Automotive effectively combines the EY proprietary automotive knowledge base, EY-developed analytics intellectual property assets and deep automotive industry sector experience with Microsoft AI platform, including Microsoft Azure services such as Azure Machine Learning and Azure HDInsight, and is uniquely positioned to enhance value and reduce risks for automotive clients, according to the company.
“EY chose Microsoft Azure for its advanced analytics, machine learning and cognitive services capabilities, ease of integration and access to data for clients within a secure platform,” said Sanjay Ravi, worldwide managing director, Discrete Manufacturing Vertical, Microsoft. “This is part of a series of solutions that are being jointly developed by EY member firms and Microsoft that will take advantage of Microsoft Azure cloud platform services, including Microsoft’s AI and machine learning services to unlock longer-term value for automotive customers.”
The first EY Synapse Automotive module to be deployed is Warranty Claims Compliance, which leverages behavioral analytics and machine learning models to identify claim types that drive high warranty costs and establish emerging safety and quality issues.
“The EY and Microsoft alliance was formed with a vision to jointly develop innovative digital solutions that drive long-lasting customer value,” said Greg Cudahy, EY Global Technology, media & entertainment and telecommunications leader. “EY Synapse Automotive combines years of deep automotive industry experience with the leading-edge digital technologies of our alliance partner. The new solution further advances the alliance objectives, augments our growing analytics portfolio and serves as an example of how we jointly seek to improve safety and enhance lives.”
To learn more about the EY Synapse Automotive and the EY and Microsoft alliance, visit the EY microsite.