Scott Koegler

Scott Koegler

Scott Koegler is Executive Editor for Big Data & Analytics Tech Brief

Big Data Is Making Big Differences in The Real Estate Market

The digital universe is highly dynamic and changing quickly. After 2010, we entered a new era where social networks, mobile devices and wearable technologies entered into the equation. These are just a few sources that generate large amounts of data. By 2025 there will be hundreds of zettabytes of data. As massive amounts of data continue to be generated, big data technologies are taking shape. There are technologies, tools and data processing methods that aid in the extraction of all kinds of digital insights. The ability to collect, analyze and extract insight from big data sets has implications to all sectors of business. For example, big data can help companies protect their customers from buying items that are not up to the standard. With this in mind, what differences can big data bring to real estate market?

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Don't make any of these mistakes with your big data

Going by what we keep hearing about big data, professionals and evangelists of this technology make it feel simple as if businesses can just take off as soon as they implement it. However, the truth is actually the opposite. Big data may not show results as soon as you implement it. Rather, it demands patience since it may take some time and perseverance for the data to be collected and used in what the initial intention was. It takes time to separate the useful information from data, prioritize, visualize and extract insights needed to make business decisions.

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The Use of Big Data in The Insurance Industry

The emergence of big data, artificial intelligence and analytics has led to a massive transformation in the financial services sector; the insurance industry included. As these new technologies continue gaining acceptance in different sectors, established insurance firms have not been left behind as they continue investing in digitization of their processes and products. Accordingly, the number of InsurTech companies has been increasing over time as new companies make their way into this sector.

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