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Big Data Revamping the PropTech Space

Users today best benefit from best-in-class tools to resolve the inherent issues in business operations. The evolving era of PropTech organizations is successfully implementing this methodology by amalgamating vast amounts of information to assist property professionals in making smarter decisions and executing those in an actionable format to generate profitable results. Planning is the core of every industry vertical, including the property industry but proves to be old-fashioned and complicated, which is anticipated to get easier with technology by 2019. Faster low-cost planning assessments will be the key to vast opportunities for the development industry, councils, and communities with the innovation LandEnhance.

 Bots are the New Buzzword in Innovation

With time, chatbots have become high-end and trailblazing. 

Even though the enthusiasm has fizzled out, the investment and development of bots have continued to make them significant, especially in the real estate ecosystem. AskPorter, for instance, is bringing in newer innovations in property management with their digital assistant solution. Hubble too has taken the baton in raising a Series A funding initiative, which has made them overcome several scalability challenges they once faced. Their innovative platform provides solutions to cater to the whole space and adds more value to the business. AI too is at present, being applied extensively to revamp the entire property planning sector. PerchPeek is another significant example that utilizes AI to match renters with homes and provide a much more robust as compared to legacy renting platforms.

Big Data Propelling the PropTech Arena

Several Big Data enterprises, including Facebook, Amazon, Google, and Airbnb, are gradually making their place in the PropTech space. From building cities in Toronto from the internet up by Google to Amazon’s investment in a prefab company to build Alexa-enabled homes, these companies are successfully capitalizing consumer demands with data. The resources they have at their disposal helps to stimulate significantly the entire property landscape that further enhances investment and innovation. With a core focus on real estate companies, there is a wave of data acquisition and analysis to gather more insights on the people in their buildings. This data is precious as it plays a vital role in informing, designing, strategizing, and ultimately driving investment decisions.

The increasing amount of real-time data about the market is now more readily available, and the investment sector itself is getting more organized with several companies like Unissu gaining momentum to enable investors to make profitable investments and on the whole drive the PropTech industry to newer advancements.