Through the capacity to make more accurate appraisals on a massive scale, to more personalised real estate marketing, better risk mitigation and quicker processing times for applications, big data is in the process of completely upending the real estate industry - in a good way. The real estate industry has traditionally been a slow adopter of technology, but the pendulum is beginning to swing towards rapid adoption very quickly. Venture capitalists and tech startups are beginning to hone their focus on the housing market, in the knowledge that the $33.3 trillion market is in desperate need of disruption. And it’s no wonder. With current processes, selling houses is very expensive work. From valuing one’s house, to staging and marketing it, to paying real estate agent fees and closing costs, it costs a near fortune to be able to make a near fortune. These considerable expenses are driving people to seek more automated, efficient processes that lessen the financial burden of the transaction process - and big data is providing that level of efficiency.Big data, which describes the large volume of both structured and unstructured data floating round the digital space today, is being used in several ways to automate the ...
Read More on Datafloq
No comments:
Post a Comment