To read the entire post click here.
Traditionally, the real estate industry has taken investment decisions on a case-by-case basis based on limited data, such as that from transactions, property owners, or type of investment, and that from personal networking. The insights produced in this case-by-case model easily become outdated in a constantly changing ecosystem.
The current pandemic has impulsed digital transformation around the globe and forced the adoption of methods that deliver fact-based responses in a timely manner. Decisions based on outdated data and personal knowledge are not sustainable. We need to look forward, detect trends and understand how the world, its citizens, and their needs are changing.
“At the heart of CHAOS we believe that insights driven by demand — in other words, people — provide more accurate predictions and forecasts to support decision-making in real estate,” says Natalia Rincón, PhD in Smart cities and CEO at CHAOS.
Today, there is more than enough information that can be analysed together to better understand the performance of specific locations. Yet, the challenge that real estate professionals face is figuring out how to leverage data science for maximum impact, bridging the gap between scattered data and holistic insights.
To read the entire post click here.