Location Analytics in the Real Estate Market
Friday, September 17, 2021
This analysis enables real estate companies to make data-driven decisions on issues that define the success of a real estate business, from acquisitions, leasing, investments to marketing campaigns and operational processes.
Location analytics provides an unprecedented vision of the real estate market, analyzing real-time
mobility data such as foot traffic
, makes it possible to know the updated prices of economic areas and properties of interest, the development of construction processes, to optimize the real estate agents
, identify risk areas, etc.
You may be interested in: "Geospatial Data for Real Estate market
By observing pedestrian flow patterns
, real estate companies can know where their audience is coming from, allowing professionals to create an accurate picture of their customers behavior, having huge implications in terms of how to spend marketing budgets, analyze a competitive landscape, choose the next property, know which areas to invest in, etc.
Also Read: "Predictive Modeling: The New Real Estate Journey
."Why has location analytics become essential in the real estate industry?
It allows to maximize the financial performance of projects by optimizing the processes of identifying market gaps, investment properties, and low and high yielding assets.
Minimizes investment risk by making objective decisions on what, when and where to invest by analyzing different sources of information to find hidden patterns and gain new insights into the market.
Increases the efficiency of real estate agents in property management by allowing them to streamline the viewing process by understanding and finding possible delays due to deviations, traffic, events, strikes, etc.
Improve marketing campaigns by adding demographic data, satellite images, property reports and foot traffic maps.
Analyze competitors and benchmark their performance by understanding the behavior and trends of a target audience, gaining deep insight into the strategies that drive competitive results.
Generates valuable insights into customer behavior, which are then used to optimize marketing and sales processes to achieve a better close rate.
At PREDIK Data-Driven we generate intelligence solutions for the real estate industry to maximize its financial value by implementing location-based strategies.
DO YOU NEED MORE INFORMATION ABOUT YOUR BUSINESS SECTOR?
Request more information:
Need assistance? Contact us
More on this topic
Competitor analytics: Home Depot Vs. Lowe’s home improvement
Retailers are already implementing Big Data tools such as location intelligence and foot traffic analytics to understand consumer mobility patterns, measure foot traffic at each store, understand the performance of their outlets, and estimate competitor turnover.
have revolutionized the way the
and home improvement industries implement
, commercial and operational strategies.
Ways Location Intelligence is Driving Real Estate Investments
In order to research and evaluate real estate investment opportunities for commercial, industrial or hospitality use, it is important to consider all social and economic factors in a given area in order to make an informed investment.
Researching and evaluating real estate investment opportunities is not a piece of cake. Whether it is the valuation of a retail or hospitality investment space, it is crucial to take into account all the socio-economic factors of the area in question to ensure a high return.
How does Data Analytics improve Outdoor Advertising?
Location intelligence and mobility analytics allow companies to create Out-of-Home advertising strategies focused 100% on the tastes and preferences of the people who pass through each point.
In outdoor advertising (OOH), knowing in depth the consumers who pass through the point where the advertising will be exposed is crucial to maximizing as much as possible the return on
How to Use Big Data in the Real Estate Market?
Through techniques for managing large volumes of information, it is possible to carry out land studies, analyze the evolution of urban development in an area, and even optimize real estate marketing strategies, among other multiple uses.
By combining land data and maps, there are different types of analysis that help professionals and their clients to better understand the market and the factors that affect it, improve real estate predictions, find a desired location and observe the changes that occur there over time, and so on.
2008-2021 © CentralAmericaData.com