Big Data is everywhere. Customers are trying to tell us what they are looking for, and it’s up to us to figure this out. Big data is helping connect our customers.
In a recent Realtor.com article, Kenneth Cukier from The Economist said, “In practical terms, that means business intelligence is getting more, well, intelligent.”
“By tapping vastly more data, we can ask new questions and do new things,” Cukier explains. “And we’re harnessing types of information that we never had before. With this, we can find correlations that before escaped our notice.”
Large retailers such as Wal-Mart and Amazon are already using big data to great effect. These companies are finding patterns among consumers and using those insights for target marketing and product positioning. You see this right after you watch a Youtube video or visit a site with ads; these companies are using their data to put ads in your face. The same is happening with the real estate industry.
We reached out to Mike Oddo, CEO of Money Tree Lead Systems, an innovative company that is in touch with the real estate industry and is able to deliver solutions to common real estate problems. As Mike owns an online lead generation and CRM resource to help real estate brokers generate more leads, we wanted to find out how this is impacting the real estate niche.
Oddo stated, “We can get people those analytics that we never had before in our industry. You can see how often people are shopping, how engaged they are, what property they’re looking at and how many times. It’s pretty powerful stuff. It’s doing all these great things on an individual practitioner level.”
Even Realtor.com has launched a new Predictive Analytics group that will be looking at what’s going on behind the scenes of their site and sites that they control, as well as seeing what’s going on in the overall industry. This is so that they can evaluate the data and show agents new and upcoming trends.
The changing world of real estate is evolving, and knowing what’s going on in the behaviors of our clients is key to connecting with customers.
How are you experiencing big data?