In a world without crystal balls, forecasting is a serious business. Time series forecasting helps us understand where property markets are heading in the future. Data science models can now use huge amounts of data from hundreds of different data sources in their forecasting efforts. The result of these advancements will be better investments, developments, and greater financial returns.
Benefits for the company
This strategy helps the companies by correctly allocating the resources, investments by having an knowledge of the real return on investments in the future.
Type of expertise/ AI domain
Regression Techniques, Random Forest – Gradient Descent
Internal data required
Historic Property data, Customer Demographic Data
External data possible
Public Data, Demographics Data, Market Information, price/square meter, neighborhood quality, etc