What is “Big Data” Technology ?
Big Data is going to control the businesses all over the world. It is impacting our lives in so many ways, we see schools and universities introducing the subject to its students and making it part of main stream education. So, all of us, in business, really, need to understand what Big Data is and how it is changing our lives.
Here is one of the Big Data definitions that most of us could understand:
“Can you write down your name and your age? I am sure you can. Can you write it down for everyone in your class? Or for everyone in your school? Or everyone in your town? Everyone in the country? Everyone in the world? And then write down their age, their favorite color, their favorite animal, their favorite TV programs, almost anything you can think of … for millions and millions of people.
That’s too much, isn’t it? You can’t do it, and I can’t do it. But some computers can do this, and we call it ‘big data’. Data is all the stuff we are writing down and you can imagine, for millions, billions, gazillions of people it is really BIG.
What can we do with all this data? We can find patterns. For example, people making television programs may discover that children who like music really like drawing too, so they could make a new program about music and art. Or hospitals could discover that people who like different foods may get sick in different ways as they get older. That could help families and doctors look after our grandparents better.”Donald Farmer, Qlik’s VP of product management https://analyticstraining.com/explaining-big-data-to-kids/
The Importance of Big Data Technology to The Real Estate Industry
With the understanding of the simple definition of “Big Data”, let’s see how it has impacted the real estate industry. Data allow the real estate experts to spot trends (or patterns as mentioned above) and are in better position to predict, analyze, also to anticipate the effects of the relevant trends, which allows them to be better prepared if they come into sight. For example, what will be the most popular and demanded number of rooms in a condo / landed property in a specific location.
Big data makes the sales and purchase processes smoother and simpler so that both sellers and buyers will be well-informed. Sellers/housing developer will use the collected data to make better decisions, for instant, the selection of location for new project development. Where-else, buyers will have a better understanding of the environment and local community of their dreamed properties.
Businessman/ people will be provided with detailed property information regarding latest surveys, full lists of properties for sale/rent, maps with regions where properties can be filtered by its value and so on. The main idea is to give people clear and true information, encourage transparency and decrease fraudulent.
The future of Big Data Technology is very optimistic and NO one can afford to take no notice of it. So, let’s think about the development of your own data-driven software, you may need a mobile app to start with that works with Big Data. ProSales, our highly performing mobile app digitize from the point of sales prospecting to handing over of Vacant Possession, then Defect Management, we strive to improve efficiency and increase company’s saving. Contact us today for a Free Demo.