Read time 2 minProperty intelligence data and platforms can be used remotely to assess, study and understand property attributes by real estate stakeholders, financial institutions, and other insurance companies. Did you know that property intelligence can usher companies in precisely assessing property valuation and risk? This blog sheds light on property intelligence, how it is helping in the measurement of valuation and risk, and in making quick, accurate decisions. There are the latest tools that allow users to access and utilize property information to make informed property decisions.
What is property intelligence?
Before we dive deeper into the usage of property intelligence, let us first get to know a little more about property intelligence. Property intelligence is nothing but actionable analytics and information about a single property or a set of properties. This modern property information is obtained from geospatial data, building or property records, and other metadata. All these data are made available only on-demand and are analyzed using Machine Learning (ML).
Modern property intelligence can be used in the deep analysis of the building. Also, it gets updated periodically and can be aggregated for analyzing the current trend. The information gained from the analysis includes property information like a parcel and building size, property type, how it is constructed, the condition of the building, record of previous sales, permit history, occupancy, the vulnerability of the building, risk of weather, and neighborhood characteristics. All these data significantly impact the risk or value of the property.
Property intelligence can also be used to gain valuable insights into regional trends, neighborhood property, cities, the condition of new properties, construction and developmental activities near the property, change in weather, et al. Now, we hope you have understood what property intelligence is. Let us walk you next through how property intelligence is used by businesses of today in various industry verticals.
How property intelligence can be used to measure valuation and risk
In recent times, property intelligence data can be sourced from a plethora of property intelligence platforms through API. This property intelligence data can be leveraged in a wide range of applications. It is especially valuable for organizations that trade, transact, manage, insure, and service both residential and commercial properties. The intelligence data are derived depending on the precise understanding of valuation and risk.
Today’s property intelligence platforms are smarter and more advanced and can be used to leverage computer vision neural networks. These networks are great for translating high-resolution aerial imagery into geospatial data. This translation is specifically done to validate the ground reality of individual properties. These platforms also apply big data analytics to add up this intel with the data from a wide variety of other sources. This is done to facilitate and deliver important and apposite property analysis. The information gathered from these platforms can then be used by various industries such as finance, insurance (property and casualty), real estate, and Real Estate Investment Trusts (REITs).
Conclusion
In the real estate industry, property intelligence data can be used to enhance conventional sources of data. It can also be used to understand the property and its neighborhood. To help with your property intelligence data, Springbord has devised custom solutions that suit every business need. We are armed with professionals with domain expertise who guarantee high-quality output. Talk to us today to know more about how we can help you manage an extensive property database.
