A new spinoff company is entering the inventory management space, powered by artificial intelligence and machine learning technology.

An inventory management system that was formerly a division of Redline Automotive Merchandising is now a standalone business with a new name — Predian — supporting automotive dealerships and several lot service companies directly, offering predictive analytics and data mining through AI and ML.

In a news release announcing its launch, Predian said it is “set to transform how dealers manage their inventory, leading to higher profits and significantly reducing time to sales.”

The new company said it already serves more than 1,000 franchise dealers and it plans to “turbocharge its innovation focus” on inventory management while maintaining its current level of service.

“Artificial intelligence and machine learning will revolutionize how dealers manage their inventory,” CEO Mike McGlade said. “With Predian, dealers can dive into their inventory data to make better decisions and ensure they move vehicles quickly and profitably.

“Our goal was to make an easy-to-use solution that gives dealers access to every possible data point to make the right decisions for their dealership. It’s all about the data.”

The company said its AI/ML system powers:

Merchandising: Includes AI-guided photo capture and background removal, as well as AI-created VIN descriptions designed to ensure high-quality, consistent and compelling content on all inventory.

Predictive analytics: Enables dealers to make decisions based on what the market will look like in the future, using advanced data modeling and machine learning to provide forward-looking guidance based on the vehicle’s VIN. Predian said its ValueVision will use predictive analytics to show a dealer what the retail price will be 30, 60 and 90 days out and incorporate that data into the inventory management strategy and pricing, while SmartTurn is designed to estimate turn time based on the set market price.

Business intelligence: Designed to offer dealers the unlimited ability to combine and compare data based on the key drivers of the dealership’s performance.

Predian’s leadership team includes head of product development Merritt Critcher, whose long experience in inventory management includes roles with Dealertrack, DealerSocket and Solera; and chief revenue officer Stephen Batten, who has served with Redline, Impel, Experian and Reynolds and Reynolds. CEO McGlade had been Redline’s CEO since 2019.