Vehicles and Machinery: How to Measure Potential Markets?

Accurately calculating the vehicle fleet or estimating the number of specialized machines and tractors used in certain areas is useful information for companies dedicated to the sale of accessories and spare parts to make the right decisions.

Thursday, May 6, 2021

In order to minimize the risk of starting to commercialize spare parts and accessories that use specialized machines, tractors or vehicles, or simply to calculate potential sales in certain areas, countries or regions, companies rely on market studies that in some cases are elaborated with Big Data techniques.

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Through specialized methodologies it is possible to analyze large volumes of data that are generated at every moment, such as the registration of vehicles by type, brand, model and year of manufacture, information that is of utmost importance for companies engaged in the marketing of spare parts and auto parts.

Regarding estimates of the number of vehicles circulating in a certain area, country or region, Jorge Marquez, Data Scientist at CentralAmericaData, explains that this is possible by applying methodologies that combine the use of information from public and private sources. "To arrive at an estimated number, it is necessary to rely on multiple sources," such as the vehicle registers, the specialist points out.

See "Which companies supply machinery in Central America"

The Data Scientist assures that calculating the existing quantity of some type of specialized machinery or tractor is somewhat more complex, as there are usually no official records in these cases.

According to Marquez, "... tractors are often not registered in the vehicle registry, so the visibility of these types of vehicles is very low. Calculating these figures accurately is impossible at the moment, however, estimates can be made by analyzing imports."
 
Regarding the uses that companies can make of these Business Intelligence solutions, Márquez details that "... the information on vehicle fleets and the quantities of specialized machines or tractors can help companies to see the panorama of brands and models that are most in demand at present in a certain country or region. It also supports the creation of business strategies to attack those segments that are growing the most."

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