It’s no secret commercial real estate is heavily data-driven, as the deals brokers and owners make in any given market depend on a number of key points: levels of availability, new space being built, employment trends — the list goes on and on. Every commercial real estate brokerage collects mountains of data around these characteristics.
But the industry still doesn’t view itself as a data business. Firms in retail, finance, and even residential real estate have started hiring data scientists to analyze massive swaths of information to help paint a picture of what the future will look like. Today, most brokers are just using small, localized pieces of available data to make individual deals, rather than looking at the whole picture to craft an effective long-term strategy.
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- BY DAN SPIEGEL, Executive Vice President of Operations for Colliers International in the United States.
Learn more in Seattle at the ‘Big Data for Real Estate Investments Summit 2017’ this June 22-23.
With outstanding speakers and world class delegates attending the summit, you will be inspired on how to innovate and succeed in real estate investments using big data technology. Additionally you will have access to many incredible 1 to 1 meetings and networking opportunities.
For more information visit http://primesummits.com/big-data-summit-2017/