Data is the Key for Real Estate
Data is fuel for today’s real estate organizations, which cannot run without it. Like other types of fuel, it must be processed and made ready to use. Many business professionals in real estate, however, are unfamiliar with data techniques and what it takes to meet their requirements for usable data.
Data is stored in many real estate applications and systems in different forms, and in its native form often is not ready for use in business activities. Analytics, an increasingly critical aspect of today’s information usage, is one of these. Manual approaches require too much time to get data ready for use in analytics. According to our Analytics and Data Benchmark Research, analysts spend more than two-thirds of their time (69%) preparing data for analysis or reviewing its quality and consistency. Such time-consuming methods prevent analysts from focusing on analysis and providing guidance to decision-makers.