The rise of PropTech and tech investment in this industry is a strong indicator of how data analytics and their application are revolutionizing the real estate world. Although technology-based selling, renting, lending, construction, renovation, and buying of properties have attained a central point, the data analytics generated from them hold the key to transforming the real estate industry.
The intervention of data in real estate has led to accurate analysis of large databases from multiple resources. Companies are benefiting a lot from data analytics in real estate as the results have helped them in completing challenging projects in a shorter timeframe. Another major benefit of data analytics is the optimization of the financial resources spent on any project.
Big data analytics are making a huge move in this industry. Unclear customer behaviors are often regarded as a major hindrance by real estate agents. With the help of predictive analytics, it is possible to contemplate prevailing impediments and create a backup in case of unforeseen disasters. To accurately predict the risk and market trends, realtors and investors are making data-supported investments by using different tools and sources. It is putting an end to legacy realtor trends, leading to a much advanced real estate paradigm. Feeding real estate technology algorithms with useful data has assisted in making the right decision as well as in opening endless opportunities for the business.
At the 2nd Annual Proptech Middle East being held on 4th and 5th November 2019 at Habtoor Grand Resort & Spa, Dubai Marina, real estate industry experts will share insights on how data analytics has become a primary factor in the real estate decision-making processes today, while also highlighting the challenges in integrating, fetching, and effectively utilizing this data.
Over 350 real estate professionals from across the GCC region will be attending this two-day summit. For more information about the event, please visit http://www.proptechdubai.com/. Follow the Summit on social media with the hashtag #PROPTECHME.