Strategy Titan, a strategic management, data and analytics consulting firm, launched a new application to help RV industry businesses understand and utilize market data.
The Wheaton, Illinois-based company’s interactive app highlights the top 10 performing RV retail markets in the U.S., as well as provides insight and commentary regarding market trends.
“We are unlocking the value in the data,” founder and CEO Jason Krantz said. “[The app] helps mitigate risk because it helps users understand markets, if they are looking to grow. It is giving people the information to think about things differently.”
A rapidly changing RV retail market means understanding data could save a business millions of dollars, he said.
“It is piecing together a cohesive narrative of what is going on,” Krantz said. “Most industries do not have the data that (Statistical Surveys Inc.) have. It is not available, so we are trying to piecemeal market analysis because the market is changing fast, which can lead to guessing wrong due to poor planning.
“For retailers or those looking to understand their space better, you can do it,” Krantz said. “You can answer [questions] with Statistical Survey data. The info is there. If you have never done this, we can help with the learning curve.”
The app’s interactive map allows users to scroll through “city cards” to view rolling 12-month unit growth in each location. Data is organized by product type, such as travel trailers or Type B motorhomes, and includes a national unit volume rank, 12-month growth percentage and additional information for each city.
Getting an industry to think differently about data and business is not an overnight process, Krantz said.
“I’ve been doing analytics a long time, and you cannot force people to change,” Krantz said. “Here is the risk: What if a business does start [using the information]? You could be at a disadvantage.
“We think about how we can percolate ideas that cause retailers to think differently,” Krantz added. “With the app, they are buying [facts], not just leveraging information, which could send off warning signs of something down the road.”
Visions for the app started a while ago, Krantz said, with the project coming to fruition in the past two months.
“It is not about money, but money is the fuel for businesses,” Krantz said. “It is about fundamental techniques. We can help make people’s lives and businesses better, and all the raw materials for the cake are there.”
View the free app online here.