For Immediate Release
FRANKFURT, Germany — September 10, 2024 — WESP, a leading provider of data solutions for the automotive aftermarket, has been awarded the Innovation Award in the Data & Connectivity category at Automechanika Frankfurt 2024. The company received this prestigious recognition for its Fact-Based Replacement Rate (FBRR) solution, which is revolutionizing data-driven decision-making in the automotive sector.
Automechanika Frankfurt, the world’s leading trade fair for the automotive service industry, presents the Innovation Awards to recognize groundbreaking solutions that drive progress in various automotive sectors. The Data & Connectivity category specifically highlights advancements that improve data utilization and connectivity within the industry.
WESP’s Fact-Based Replacement Rate (FBRR) solution stood out for its innovative approach to quantifying part replacement rates in the automotive aftermarket. The FBRR utilizes actual workshop invoice data and employs machine learning to adjust for variables such as vehicle age, number of vehicles in operation (VIO), and regional factors. This provides unprecedented accuracy in replacement rate calculations, enabling businesses across the automotive aftermarket to make more informed decisions.
Bas Wintjes, director of WESP, commented on the win: “We are honored to receive this recognition from Automechanika Frankfurt. This award validates our team’s hard work and our commitment to providing innovative, data-driven solutions for the automotive aftermarket. The FBRR represents a step forward in how our industry approaches inventory management, product development, and strategic planning.”
This award underscores WESP’s position as a leader in automotive data solutions. The company remains committed to driving innovation in the Data & Connectivity space and will continue to develop solutions that address the evolving needs of the automotive aftermarket.
For more information about WESP’s Fact-Based Replacement Rate and other data solutions, please visit https://mywesp.com or contact Jeroen Koopman at jeroen.koopman@mywesp.com.
About WESP
WESP is a provider of data-driven services for the automotive industry, including benchmark dashboards, fact-based consulting, and data pools for the passenger car market. WESP developed unique business intelligence tools to collect, clean, standardize, and enrich retail market data for the aftermarket. Our software applications transform heterogeneous retail data into harmonized market information conform to industry standards to provide business insights, benchmarks, and data-driven decision-making. You can visit WESP during Automechanika Frankfurt in Hall 6.0 at stand C85.
Media Contact: Stijn de Vries, Marketing Manager, at stijn.devries@mywesp.com
Source photo: AMT
