7 Best Ways Big Data Is Transforming The Real Estate Business

June 13, 2022 | 204 views

7 Best Ways Big Data Is Transforming The Real Estate Business
Real estate firms can enhance their decision-making with the help of Big Data Analytics. The real estate industry was using the data of past events which were not that effective. But now Real estate businesses can use Big Data Analytics for accurate real-time data. The real estate business holds very big risks, not for only developers, it affects the businessmen and investors too.

Big Data Analytics help them to get out of this situation and help them to identify their prime opportunities in real estate. With the help of Big Data Analytics real estate professionals will be able to use geographic as well as structured data and that too for targeted marketing.

Big Data Analytics analysis the insights of the needs of investment trends and customer desires and the personalized interactions too. So what are those fields in which Big Data Analytics can contribute to the real estate firms?
  • Accuracy in property appraisals
  • Price predictions
  • Risk managing
  • Healthy selling and buying habits


Now Bow Big Data Analytics Is Going To Transform The Real Estate Business?


1) Management of Risk
With the help of Big Data Analytics Real estate businesses can precisely predict the age of the property and also they can redesign and renovate their property according to their needs. Well, with the help of this the potential risk factors for the buyers and the investors will be reduced.

The buyer can make fair cash offers regardless of the condition of the property and also BIg data analytics will take care that their customers never be at a loss. 

2) Prospective And Interested Buyers
Let me tell you one use of big data analytics. With the help of this technology, the agents no longer need to project blindly they can actually predict the behavior of their customers.

The needs of potential buyers can also be analyzed by Big Data and as agents find their customers the customers will be able to find relevant agents to buy their expected real estate property.

3) Higher Property Valuation
Property valuation is one of the most important things in the Real Estate market. It decides to make or break the real estate firm. Big Data analytics give insights to the customers about the market conditions, buyer profiles, and other data precisely.

Data analytics work on prediction bases and they provide the demographic changes with the help of these changes the estate marketing will be able to forecast the behavior of the customer.

Based on the location with the help of Big Data Analytics real estate managers can design and develop their projects likewise.  Also, there are apps that use big data analytics.

Also Read | Banks in the Metaverse: Why to Get In Early and 3 Ways to Start

4) Improvement In Marketing Strategies
The private and public data sources, business surveys, and social media gives them insights that enhance your ability to determine the right market for your project. For instance, take an example, Big Data analytics can give you the data by sorting gender, age, preference, interests, and region. Which will eventually enhance the market interaction of specific firms.

5) Customer’s Experience On Top
Big Data insights collected from several platforms like CRM Systems, and social media can help customers to enhance their experience. The agents in the real estate industry can really use and utilize the data to target their potential customers.

Well, the customers should rely on agents in the terms of Big Data analytics because Agents understand the needs of customers, and make suggestions on properties depending on buyer preferences.

6) Perfect Predictions
With the help of Big Data analytics, the buyers and the sellers can avoid the risks which come in way of the project. Gone are those days when we guessed the real estate trends. Now we can actually analyze them in a proper manner and work on it like it’s left-hand’s play. Also with the great reduction in time.

Perfect Predictions of Big Data can be done with the help of computer algorithms. Big data Analytics help buyers and sellers forecast the market fluctuations and that too real-time.

There are two different perspectives. Let me discuss them in detail.
  • Low risks properties can be appreciated well with the help of great predictions.
  • Meanwhile, agents and investors think that high risks can give great results.

7) Personalization Of Property Data
Big data companies focus on the things that go unnoticed. For example, the amount of sunlight that comes into a room. If you follow your steps to the real estate possession, it will be time-consuming, but with the Big Data analytics, it will be easier for you to get real-time and accurate information about the property.

Conclusion
Big data analytics is now in use in several industries. Meanwhile, the Real estate industry is also trying to step up and get the help of big data analytics. Well, you can not say that they are not using this technology, They are using it for their greater good. Big Data analytics have become a decision-making factor for all sectors. If you want to transform your business, real estate business particularly, this article will help you from the start to the end.

Spotlight

MindStream Analytics

MindStream Analytics is a leading consulting firm focused on helping clients improve business understanding and decision making. With years of experience in the Business Intelligence and Performance Management arena, MindStream can help you face the challenges of Big Data through streaming analytics, mobile strategy, and next generation tools. MindStream's services range from software selection to full implementation services. Need an effort-free approach? MindStream has a global managed services offering that lets you run all your applications in the cloud. We at MindStream believe that the power of technology, combined with best practices, gives our customers better results. Join us on our social media pages for latest news and updates, upcoming events, and free webinars…

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How is Data Virtualization Shifting the Tailwind in Data Management?

Article | June 1, 2022

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How Artificial Intelligence Is Transforming Businesses

Article | July 15, 2022

Whilst there are many people that associate AI with sci-fi novels and films, its reputation as an antagonist to fictional dystopic worlds is now becoming a thing of the past, as the technology becomes more and more integrated into our everyday lives.AI technologies have become increasingly more present in our daily lives, not just with Alexa’s in the home, but also throughout businesses everywhere, disrupting a variety of different industries with often tremendous results. The technology has helped to streamline even the most mundane of tasks whilst having a breath-taking impact on a company’s efficiency and productivity.However, AI has not only transformed administrative processes and freed up more time for companies, it has also contributed to some ground-breaking moments in business, being a must-have for many in order to keep up with the competition.

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Article | June 24, 2022

The latest pace of advancements in technology paves way for businesses to pay attention to digital strategy in order to drive effective digital transformation. Digital strategy focuses on leveraging technology to enhance business performance, specifying the direction where organizations can create new competitive advantages with it. Despite a lot of buzz around its advancement, digital transformation initiatives in most businesses are still in its infancy.Organizations that have successfully implemented and are effectively navigating their way towards digital transformation have seen that deploying a low-code workflow automation platform makes them more efficient.

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Article | February 10, 2020

We are a species invested in predicting the future as if our lives depended on it. Indeed, good predictions of where wolves might lurk were once a matter of survival. Even as civilization made us physically safer, prediction has remained a mainstay of culture, from the haruspices of ancient Rome inspecting animal entrails to business analysts dissecting a wealth of transactions to foretell future sales. With these caveats in mind, I predict that in 2020 (and the decade ahead) we will struggle if we unquestioningly adopt artificial intelligence (AI) in predictive analytics, founded on an unjustified overconfidence in the almost mythical power of AI's mathematical foundations. This is another form of the disease of technochauvinism I discussed in a previous article.

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Spotlight

MindStream Analytics

MindStream Analytics is a leading consulting firm focused on helping clients improve business understanding and decision making. With years of experience in the Business Intelligence and Performance Management arena, MindStream can help you face the challenges of Big Data through streaming analytics, mobile strategy, and next generation tools. MindStream's services range from software selection to full implementation services. Need an effort-free approach? MindStream has a global managed services offering that lets you run all your applications in the cloud. We at MindStream believe that the power of technology, combined with best practices, gives our customers better results. Join us on our social media pages for latest news and updates, upcoming events, and free webinars…

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ClickHouse | December 07, 2022

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Infleqtion | December 09, 2022

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Infleqtion | December 09, 2022

Infleqtion, the global quantum ecosystem leader, today unveiled SupercheQ: Quantum Advantage for Distributed Databases, a scientific advance that extends the power of quantum computation to new applications involving distributed data. The emergence of commercial quantum hardware has been accompanied by new approaches to benchmarking quantum computers. In addition to application-centric benchmarking approaches such as Infleqtion's SupermarQ suite, scientists have developed benchmarks based on sampling from random quantum circuits. These benchmarks, including Quantum Volume, have enabled effective cross-platform comparisons, but until now have been disconnected from specific applications of quantum computers. The launch of SupercheQ changes this by endowing these random circuit sampling experiments with their first application. "SupercheQ achieves an exponential advantage for one of the most fundamental tasks in distributed computing: checking if two files are identical. "We leveraged recent advances in quantum information theory to show that the same families of circuits behind quantum volume can be used to realize this advantage." Pranav Gokhale, Vice President of Quantum Software at Infleqtion Gokhale will present SupercheQ on December 8th at Q2B in Santa Clara. Q2B, the world's largest non-academic quantum industry conference, brings together over 1,000 attendees from commercial companies and research institutions from around the world. SupercheQ has been experimentally validated by execution on superconducting quantum hardware from IBM Quantum, which also pioneered the invention of the Quantum Volume benchmarking metric. "The development of SupercheQ is an exciting step forward that starts to connect the dots between quality as measured by Quantum Volume to applications," said Jay Gambetta, IBM Fellow and Vice President of IBM Quantum. "The experimental validation on IBM Quantum hardware demonstrates the need for reliable and available hardware to advance quantum and build this industry together." In addition to the experimental validation on quantum hardware, the team performed large-scale simulations by leveraging NVIDIA GPUs, as well as the cuQuantum software development kit. "The launch of SupercheQ expands the possibilities of the tasks and types of data that can be addressed by a quantum computer," said Tim Costa, Director of HPC and Quantum Computing Products at NVIDIA. "The team's use of NVIDIA GPUs and cuQuantum has enabled them to validate SupercheQ's practical value at the scale of future quantum computers with hundreds of qubits." SupercheQ has been integrated into SuperstaQ, Infleqtion's flagship cloud quantum software platform, and the technical details behind SupercheQ have now been released in an academic paper, "SupercheQ: Quantum Advantage for Distributed Databases." Customers can get started today with a qiskit-superstaq tutorial notebook. SupercheQ is also in a private release as a new benchmark available in the SupermarQ suite. The development of SupercheQ—which requires both quantum computers and quantum networks—originates in Infleqtion's platform approach, spanning multiple quantum technologies. "We believe that the greatest advances in quantum will arise at the intersection of quantum computing, sensing, networking, and clock technologies," said Paul Lipman, Infleqtion's President of Quantum Information Platforms. "SupercheQ is an exemplar of this approach." About Infleqtion Infleqtion is building an ecosystem of quantum technologies and commercial products for today, that will drive the company and the entire industry toward tomorrow. The company believes in taking quantum to its limit and leading from the edge. Infleqtion is built on 15 years of pioneering quantum research from ColdQuanta. Its scalable and versatile quantum technology is used by organizations around the globe and deployed by NASA on the International Space Station. Infleqtion is based in Boulder, CO, with offices in Chicago, IL; Madison, WI; Melbourne, AU and Oxford, UK.

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