Advanced Analytics
[wtm_use_case_cats]
With the help of Big Data and advanced analytics software companies are analysing investments using public, customer, market data to see if a property is a good investment match for customers or not, which customer segment its more appealing to,forecasting the value in the market, the correct way of advertising a property to its customer base etc.
Benefits for the company
A successful data-driven approach can yield powerful insights. Just few ways of using data science to improve the industry data utilization outcomes.
Feasability
High
Type of expertise/ AI domain
Data Storage Capabilties, Data synthesis, Advanced analytics
Internal data required
Historic Property data, Customer Demographic Data
External data possible
Public Data, Market Information, price/square meter, neighbourhood quality, etc
As both a broad and traditional industry, real estate has always struggled to lead the way in adopting emerging technologies. Many things are still done manually in real estate, and a lot of data is still in a physical form. However, over the last five years, there’s been a real shift towards embracing data science in the sector.