PRODA's insights on big data for #TechCBRE

As part of CBRE’s ongoing #TechCBRE campaign, PRODA provided insights on big data and automation as prevailing megatrends reshaping real estate.

“If big data is the new oil, then commercial real estate data is the type of oil that is plentiful and valuable, but it’s very difficult to extract and expensive to use.”

Peter Bredthauer, CEO PRODA

CBRE highlighted the potential of automation to enhance day-to-day experience for real estate professionals, noting that they ‘can use the freed-up time to engage in more intellectual, cognitive tasks, not only improving productivity, but improving engagement and fulfillment.’

You can follow the #TechCBRE megatrends campaign here, and view the full coverage of PRODA’s contribution here.

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PropTech game changers look ahead to 2019

2019 is primed to be the year when PropTech moves from concept to reality for many real estate companies, with AI and machine learning as the key ‘tech to watch’. This was the consensus from Angelica Krystle Donati’s recent Forbes article, which discusses perspectives from five PropTech startup game changers including PRODA.

Data standardisation was highlighted as a top priority for 2019. According to Donati, “Data will continue to be key, and the creation of a common data standard…can make a crucial difference to deep tech innovation in real estate. This is particularly important as deep technologies such as AI will be those that deliver an exponential value-add.”

Data & automation are key priorities: 2018 KPMG Global PropTech Survey

The eagerly-anticipated 2018 update to the KPMG Global PropTech Survey is here - and it’s a fascinating read. Having moved into PropTech from the real estate industry ourselves, we have perspectives from both sides of the ‘gap’, and it’s great to see those reflected in the discussion here. Firstly:

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This was true for both short-term impact (automation, 30% of respondents) and long-term impact (AI, 32% of respondents). Big data and analytics followed close behind, predicted as the most impactful areas by 27% and 17% of respondents in the short and long-term, respectively.

So how do we get there?

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Again, structured data comes to the forefront as an facilitator for digitalisation. According to KPMG, “this will enable (real estate companies) to make smarter, faster, data-driven decisions throughout their business.”