Big Data is the storage of huge amounts of data, management, and analysis to see if we can find repeating patterns.
The volume of data created and managed is so enormous that we have to organize, aggregate, and normalize the data so that the information extracted has some value.
Now, let’s start talking about Big Data in the real estate sector.
We must start by saying that, if we talk about the offer published on the internet, by the different portals or real estate websites, we will see that there are (only among the 5 most important portals in Spain), about 5 million ads. Each ad has more than 100 details that can be collected using crawling or scraping techniques. If we add the millions of economic, demographic, social data that we can also find, it is logical to think that Big Data techniques must be used to obtain data that makes sense or value for users.
Fortunately, many proptech companies can offer relevant data “cooked” to offer specific products such as property valuations, taking advantage of artificial intelligence techniques and machine learning. Proptech companies such as UDA, Atlas, AuraRee, Casafari, Betterplace, or Housedata offer excellent services.
Real estate valuations are obtained, but much more information with high strategic content for their clients’ decision making.
Other proptech companies use this data in other ways to attract customers more effectively, such as Domibus, Alerter, or Captaloo.
And, of course, those that offer data from other perspectives such as Eixos, Lupafy, IRE Report, Idossy, or Dotgis.
Without a doubt, the imagination is winning the battle against data and industry professionals. They have more and more products to help their customers make the most timely and efficient decisions for their needs. At the same time, all these proptech companies are democratizing the use of all this data for a large number of clients. Clearly, decisions must be made with as much data as possible and available.
Gustavo Lopez
Operations Director at the Catalan Real Estate Agents Association