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Case -
Enhancing capability to design data-driven products for external
and internal customers

 

The Challenge

NettiX is the market leader of motoring classified marketplaces in Finland, regarding the amount of adverts and the amount of paying customers. Listing is free for individual visitors. For the retailers and the advertisers they offer a variety of solutions for building customer base. Nettiauto.com is Finland’s largest and most popular advertising site for vehicles, through which you can also browse for new cars.

NettiX hosts a family of commerce websites where consumers and companies post advertisements for selling items such as cars, motorcycles and boats. NettiX’s users need to specify an asking price when they want to sell any item. However, from a customer’s viewpoint, finding a realistic and reasonable price requires a good amount of market knowledge. Higher-asking price can potentially lead to longer selling times, meaning the item could be in inventory for a longer time period. The customer’s objective focused on improving NettiX’s user experience by providing automated market knowledge that is related to asking prices and selling times.

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Our Solution

Our solution was to provide their users with a specific tool that is capable of suggesting a reasonable asking price for any selling items that are available on NettiX, whether it’s a car, a motorcycle or a boat. Ideally, the tool takes into account certain product attribute aspects, including different manufacturers, age and mileage. It also looks at asking prices of similar items in the commerce archives. We provided a team skilled in software development and data science to implement the back-end, i.e. predictor algorithms and front-end, i.e. web interfaces of the solution. Our data scientists were required to implement the predictive algorithms, but also to pre-process data and verify the quality of the data and the predictor. Front-end software developers make sure the solution is accessible for NettiX users, both internally and externally.

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Results

NettiX has succeeded in providing their users with a brand-new web application that is capable of suggesting asking prices for their cars. Internally, NettiX benefits from data-driven market information, for instance, asking prices and selling time. NettiX can also utilise this information in their business-to-business contacts. As a result, NettiX has improved their capability to design data-driven products for their external and internal customers, which is based on their comprehensive sales archives. 

 Keywords, technologies and tools

  • Python

  • Scikit-learn

  • Amazon Web Services (AWS)

  • Docker

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For more information

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Pekka Lehti

CEO

+358 45 123 6610

pekka.lehti@

valuemotive.com