iLeads.com Blog: big data

Why Should Realtors Care About Big Data?

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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdwytcTHsKwxOyv6p5bFYbmPbBWKiY4KUuu911ba8J0WB9ldxd5J5H9aZPCyyTWCYDdD6XxvcZNv2mLZXLticjvyFo6TLnld19u5Gan657z-oG_8f1c7NRMnF4zSRLn6A0ktiaggQ9QFU/s1600/Why+Should+Realtors+Care+About+Big+Data.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="229" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdwytcTHsKwxOyv6p5bFYbmPbBWKiY4KUuu911ba8J0WB9ldxd5J5H9aZPCyyTWCYDdD6XxvcZNv2mLZXLticjvyFo6TLnld19u5Gan657z-oG_8f1c7NRMnF4zSRLn6A0ktiaggQ9QFU/s1600/Why+Should+Realtors+Care+About+Big+Data.jpg" width="320" /></a></div>
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<span style="font-family: Calibri;">Big data has suddenly become a hot topic in the
real estate industry. Although builders and realtors are yet to fully figure
out how they can benefit from big data, many of them have already started using
data analytics tools.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">So, what is
big data?<o:p></o:p></span></b></div>
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<span style="font-family: Calibri;">Big data means vast amounts of data that people
generate when they surf online and purchase items using their credit cards. Our
interaction with digital technologies helps create digital information. In
fact, just about everything that we do at the moment generates data. </span></div>
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<span style="font-family: Calibri;">Big data can come from a variety of sources,
including posts on social networking sites, customer purchase transactions,
online videos and medical databases. </span></div>
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<span style="font-family: Calibri;">The digital information is going to get bigger. To
deal with all that information, you need mighty analytics tools. Many people
claim that a tool that can analyze all the information does not exist now.
Perhaps it doesn't. But realtors do not have to analyze all that data. They
only need to analyze data that pertains to their industry. The goal is to find
out what their clients want. </span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Why realtors
need to analyze big data<o:p></o:p></span></b></div>
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<span style="font-family: Calibri;">It is true that existing analytics tools are not powerful
enough to deal with all the data available at the moment, but that is no excuse
for avoiding big data. In fact, real estate companies need to realize that big
data is here to stay. And if they want to retain their competitive advantage,
they need to analyze it.</span></div>
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<span style="font-family: Calibri;">Big data helps you understand customer behavior
better. Just having access to data will not help your case unless you invest in
tools that help you analyze it. Actually, that is why it is important for
realtors to develop a big data analytics strategy.</span></div>
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<span style="font-family: Calibri;">Remember that your potential clients also have
access to big data. Many potential buyers and sellers now search online for
property information. Before hiring an agent, they may also try to find that
agent online. Social media makes it easy for people to post reviews and
complaints. Make sure that your clients are saying good things about you and
your service. If people who hired you in the past are not happy with your
service, they may give vent to their frustration online. These negative reviews
can affect your chances of finding clients.</span></div>
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<span style="font-family: Calibri;">You need to ensure that you are providing your
clients the kind of service they can rely upon.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Conclusion<o:p></o:p></span></b></div>
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<span style="font-family: Calibri;">Big data is a force to reckon with and any
developer and realtor worth their salt need to collect and analyze it. For real
companies the best source of data is their website. Install analytics tools to
understand what your visitors want. Understanding customer behavior will help
you predict what they want.</span></div>
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<span style="font-family: Calibri;">In short, realtors can no longer ignore advances in
technology. When your customers have access to big data, you too should have
access to it. Almost all homebuyers and sellers now look up online for property
information. This is a clear indication that realtors also need to take data
seriously.</span></div>
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<span style="font-family: Calibri;">So, here is our advice. Pay attention to the
happenings in the real estate industry. Gather information and use it to improve
your service.</span></div>
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<span style="font-family: Calibri;">Buy and work leads smarter, contact only the
customers you want to engage, and enable your employees to be productive.
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today!</span></div>

Why Should Realtors Care About Big Data?

Big data has suddenly become a hot topic in the real estate industry. Although builders and realtors are yet to fully figure out how t...

Big Data and Lending: What’s the Connection?

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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhozDqc9pQ_58-1klOFNXA-wHluJZCvA6nJxJYKkobVs7WyIZijL_HDoxDPunsINuGcvElCJWxwFaiQnHrm1G27cfjnV-PSHmvDp9CbImamKm8rpJ1AyjdmwR0gV0ABmYLgqgtBQazbbLU/s1600/Big+Data+and+Lending+What%E2%80%99s+the+Connection.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="169" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhozDqc9pQ_58-1klOFNXA-wHluJZCvA6nJxJYKkobVs7WyIZijL_HDoxDPunsINuGcvElCJWxwFaiQnHrm1G27cfjnV-PSHmvDp9CbImamKm8rpJ1AyjdmwR0gV0ABmYLgqgtBQazbbLU/s1600/Big+Data+and+Lending+What%E2%80%99s+the+Connection.jpg" width="320" /></a></div>
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<span style="font-family: Calibri;">Yes, credit scores are still important for borrowing but
there is more to data being used in the lending marketplace. Lately, there has
been an outburst of digital information. A large portion of it can be saved,
retrieved, collected, and analyzed for discovering consumer behaviors. This is
the reason behind the resurgent optimism in small lending, especially for
smaller businesses.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Big Data Helps
Discover Credit-worthy Businesses/Populations</span></b></div>
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<span style="font-family: Calibri;">Every bit of data, from social media updates to the options
made across online discount channels, is saved somewhere. Finding such data
storage resources isn’t difficult. Similarly, there is more to credit history
now with credit card transactions being executed online, complete with email
confirmations delivered straight to the inbox. Digital cash flow can tell much
more than just credit score. It can be tracked over a period to assess whether
a previously defaulted lender is now capable to pay for small loans. This might
be understood as the predictive nature of big data analysis but it can be very
accurate. Just like Google algorithms, data analysis uses small sets of
information. Search results of data analysis help to calculate the credit
worthiness of a potential borrower.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Big Data Stimulates
Lending</span></b></div>
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<span style="font-family: Calibri;">Small businesses have traditionally struggled to borrow
regularly from banks, particularly short term loans. As banks became more
reserved about small business lending after 2008, non-banking lending came to
the rescue. Today, business loans are being provided by lending institutions
that are ready to lend in a more data driven way. For instance, a small
business selling cosmetics is most likely to have a social media presence. This
means interacting with consumers frequently. This is like a digital footprint
that lenders using big data can find. Online consumer reviews or public records
that highlight a small business are no longer out of reach. This data is used
to assess risk when issuing a small business loan.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Dynamics of Small
Business Lending</span></b></div>
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<span style="font-family: Calibri;">There can be some individual parameters that cannot be weaved
into the intricate data structuring associated with big data. Such data might
remain outside the domain of big data but it can be considered after data
analysis has helped to comprehensively understand the degree of risk involved.
Businesses can have very different credit profiles and margins. This is often
affected by local regulations, unique geographies, and political environment.
Same parameters for cash flow cannot be used across different type of
businesses. Some businesses have a limited business history while some boast of
years of functioning with limited profits. Similarly, transactions can vary
immensely depending upon the business model employed. Thus, different data inspired
parameters need to be established across different lending landscapes.</span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: Calibri;">Why You Should
Consider Big Data Professionals</span></b></div>
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<span style="font-family: Calibri;">To collect such data from the web; save it, harvest it, and
make it relevant for future decisions businesses need big data specialists.
These are vendors who can stream through overwhelming volumes of data and
translate it into easy to understand, usable form. Reports submitted from the
analytical team inspire management decisions to approve/decline a loan. The
entire process might take a week or a month, depending upon the big data
capabilities of the lending authority.</span></div>

Big Data and Lending: What’s the Connection?

Yes, credit scores are still important for borrowing but there is more to data being used in the lending marketplace. Lately, there has ...

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Why Should Realtors Care About Big Data?

Big Data and Lending: What’s the Connection?

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