Automotive data and technology business Cap HPI is set to launch new real-time data tools and insight after investing more than £1 million to create a data science team.
They will work across a range of industry sectors and will use a mix of machine learning, forecasting, automation, analysis, science and data visualisation to help customers benefit from big data and the latest technology.
Barrett said: “As an international team composed of different nationalities we have a variety of different perspectives and approaches when we bounce ideas around and create solutions.
“This is imperative as Cap HPI now has teams in France, Slovakia and Germany operating across Europe as part of its global expansion plans.
“Our focus is on creating internal and external online solutions that can scale to anywhere in the world, while being adaptable to local markets.
“Vehicle values are very different in each county - for example, an estate car tends to hold its value better in Germany, and it’s not unusual for people to spend 50% of a vehicle cost on options.
“We’re constantly making improvements to our models to help us remain accurate for every vehicle, in every market, every day.”
Cap HPI is currently developing new products aimed at helping manufacturers, dealer groups and finance houses find key information.