Jerusalem – General Motors has signed a research collaboration agreement with Yissum Research Development Company, the technology transfer company of the Hebrew University of Jerusalem. Under the agreement, GM will fund research projects of interest led by Hebrew University researchers, and in return will have the first rights to obtain exclusive licences for any inventions or products resulting from the sponsored research.
The first project chosen as part of the collaboration focuses on forecasting car sales. Consumers weight many factors before deciding on a car, but net sales data cannot provide enough information to accurately forecast the extent of sales or the proportion of people who decline to buy. Such information is invaluable for representing the actual market potential and its fluctuations over time.
The researchers will develop accurate mathematical models that will take into account not only sales data, but also data on people who have decided against buying, providing an in-depth analysis on the rate of buying as well as factors contributing to the decision process.