Firstly, it is interesting the concept of Big Data, that is anything but a term regarding to the use of big amount of data, in a structural way for helping the companies to make decisions. Therefore, in the “so called” information era- in which we are immersed nowadays-, it seems that knowing how to deal with those data by the time of setting business strategies, it is not an option, but compulsory for any organization that wants to achieve its goals in a more efficient way.
It is like that, and when an apocalyptical prophet -species that unfortunately, there are more nowadays-, talks about a hypothetical World War 3, it says that it will be a Cyberwar, in which there won´t be any bombs nor flags, but just the internet, through data management. And I prefer to leave it in this point, because I do not want to become a specimen like those, but only give a dimension to this topic, that gives a more realistic point of view that will helps us see the potential of Big Data, putting everything in its context.
After saying this, and focusing on real estate industry, the management of structured information is more important, that is generated through the transactions that are inputted on daily basis, in the different CRM´s. Segmenting this information, we will have statistic data that will help us making strategic decisions, by the time to commercialize a house.
So, inside this field exits a process called Data Mining, which consists on the extraction of all that information generated inside our data bases, with the goal of making predictions based on the patterns analysed on them, anticipating what foreseeably is going to happen in the future. This, without doubts, gives us a huge competitive advantage.
One of the companies that has known how to read the importance of this strategy has been Noteges Consulting -which is behind of Club Noteges, to which I have the privilege of being a member-; when almost a decade ago, it started to feed its data base with the sales statistics of more than 30.000 houses sold throughout its different associates in the recent years. This gives an upper position in the industry, and therefore, a high credibility to its statements.
Through this Data Mining – which is a quasi-scientific system, based in statistic data that has been obtaining real transactions-; we can show to property owners, which will be the foreseeable closing price for selling their houses, helping them to make the best decision by the time of setting the valuation of their home. This assures them on going to the market with the highest success guarantee, which is the same thing that the title of this article announces, a powerful sales weapon.
In the same way, the use of Big Data, such as it happens with the rest of technologies that nowadays can be reached, it is about facilitating the work to professionals and on the other hand, improving the service that we can give to our clients, offering them relevant information that helps us making the best decisions. Accordingly, everyone knows that selling a house it is not «as easy as eating a pie», and therefore, it is essential trying to avoid the maximum risks that are involved in this process.