J.D. Power is acquiring analytics company Korrelate in a move to better measure and track consumer online shopping behavior and purchase trends, Power said today.
Korrelate provides data to advertising agencies, advertisers, media partners, data syndicators and publishers that analyzes and correlates online shopping behavior with purchase data.
Combining Korrelate’s data with J.D. Power’s Information Network, which measures data on new- and used-vehicle retail transactions, the company “will be able to identify which Web sites and ad campaigns shoppers are exposed to before they buy their vehicle,” J.D. Power said in a statement today.
Financial terms of the deal were not disclosed.
The move will create an "unparalleled data and analytics platform to measure the effectiveness of digital advertising spending," Power said.
"The auto industry spends billions of dollars annually on digital marketing," J.D. Power President Finbarr O’Neill said in a statement. “Measuring online activity and linking it to actual vehicle sales will enable marketers to measure and optimize their digital strategy.”
The acquisition of Korrelate, based on Orlando, will also help ad networks and online publishers accurately report the effectiveness of online ads.
“Offline sales measurement is the future of the automotive industry’s efforts to measure the success of online campaigns,” Christian Kugel, vice president of consumer research and analytics at AOL, a Korrelate client, said in a statement.
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