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The Other Side Of Real Estate Big Data
Real estate agents are finding new success by tapping into the power of big data analytics.
James M. Connolly
January 6, 2015
1 Min Read
You don't need to have been involved in the analytics sector for long to have heard some software vendor, consultancy, or service provider say, "We've been doing big data since before it was called big data."
In most cases such claims are met with plenty of skepticism.
However, let's turn our view to the customer community -- the enterprises that buy those software products and services. Some of them, depending on their industry, have been utilizing big data for decades. The difference today is in the level of analytics -- the automation -- that they are able to apply to that data, along with the fact that they didn't know it was big data years ago.
That certainly was the case in the financial sector, where analysts pulled together data from all types of sources to help investors make decisions. Even in other sectors, the best sales representatives mined multiple sources to find and build relationships with the best prospects.
Yet the best example of an industry doing big data before it was called that might be real estate. Realtors helping clients price and sell a home have to utilize hard, transactional data on "comps" (recent comparable sales) but must also draw on a reservoir of softer data about what makes a neighborhood appealing, what types of homes potential buyers have been asking about, and general economic trends at the national and local level.
Read the rest of this article on AllAnalytics.
About the Author(s)
Contributing Editor and Writer
Jim Connolly is a versatile and experienced freelance technology journalist who has reported on IT trends for more than three decades. He was previously editorial director of InformationWeek and Network Computing, where he oversaw the day-to-day planning and editing on the sites. He has written about enterprise computing, data analytics, the PC revolution, the evolution of the Internet, networking, IT management, and the ongoing shift to cloud-based services and mobility. He has covered breaking industry news and has led teams focused on product reviews and technology trends. He has concentrated on serving the information needs of IT decision-makers in large organizations and has worked with those managers to help them learn from their peers and share their experiences in implementing leading-edge technologies through such publications as Computerworld. Jim also has helped to launch a technology-focused startup, as one of the founding editors at TechTarget, and has served as editor of an established news organization focused on technology startups at MassHighTech.
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