Read time 2 minAccess to meaningful information has been indispensable in driving growth in the real estate sector. Debt summaries, property valuation, tenancy and occupancy analyses to maintenance and utilities reports, every information is valuable and plays a key role in managing a real estate business profitably. And with the advancing technology and its influence on the real estate industry the influx of data has increased exponentially. There is no doubt that this deluge of information offers great potential to tap into newer opportunities and effectively respond to market demands. However, the volume, velocity and complexity of the data make it challenging to manage and organize data and in turn identify and extract meaningful information and drive value.
This has what led to the increasing popularity of data visualization services and tools in real estate. It allows players to make sense of complex data, discover meaningful information, improve analytics, and make more informed decisions. Data visualization has emerged to be a key and powerful tool in sustaining and driving growth in an aggressively competitive market.
Unravel latest and useful market trends
Real estate developers and owners are continually striving to optimize their portfolios by assessing market conditions to either divest or invest and drive greater value. That said, given the exhaustive data influx spreadsheet-based data management has been rendered useless. The volume, type, and complexity make it increasingly challenging to sort, understand, and uncover relationships between various data sets, let alone identifying market trends by combining traditional, new and unconventional data sources.
This is where accurate and effective data visualization using the same data sets can help unearth relevant and useful relationships including – hyperlocal patterns, market trends at block and city level, highlight demographic and macroeconomic indicators thereby providing a greater visibility into overall market condition and power predictable market analysis.
Stay on top of financial health
The increasing adoption of data visualization in real estate has also been in part driven by the need to reduce financial risk. Considering the volatile market conditions, deeper and advanced financial analysis is becoming increasingly crucial to gain visibility into financial health and run a profitable business. However, conventional financial assessment using traditional data is falling short in delivering useful actionable insights that can help respond to complex market demands.
The need of the hour is to create data visualizations using multiple data sources and by combining financial and non-financial indicators. It helps correlate variety of traditional and nontraditional metrics, reveal interdependence and visually illustrate data that makes it easy to understand, analyze patterns and make better decisions to improve financial performance.
Simplify portfolio management
Data visualization also plays a key role in driving and optimizing property portfolio performance. Without the ability to visualize data efficiently, it is perhaps impossible to capture, collate, compare, and analyze structured and unstructured property data that can help understand indicators and make better decisions. However, intuitive data visualization that is contextual and relevant can help users better understand the patterns and significance of various data sets in the right context.
Such interactive and intuitive data visualization allows players to gain deeper insight into various portfolio performance indicators and analyze patterns that offer actionable insights simplifying portfolio management. It helps compare and analyze multiple factors including tenancy, property type and value, location and region making it easy to asses property performance across portfolio. With interactive and smart data visualization real estate players can create better strategies, boost property management and optimize portfolio performance.
No matter where you are in your data management process, talk to us today and we can help you unlock hidden opportunities and insights through intuitive and smart data visualization.
