The benefits of Big Data in Real Estate

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Big Data changing Real Estate
Big Data is one of the technologies that gained its popularity in the real estate markets of many countries. The goal of Big Data technology is to automate the analysis of huge amounts of data from multiple information sources. And human capabilities will not be enough to process all this data. Therefore, companies will be able to optimize financial costs, time, and achieve a more accurate result that won’t be affected by a human factor.

Big Data works with machine learning to solve main business tasks. Huge data massive is analyzed according to set algorithms, and artificial intelligence provides people with the solution of a specific task. The most widespread example – credit appraisal of a borrower in banking or microfinance sector. Many banks already make their decisions on loan issuance on the basis of the verdict from an automated system.

The benefits of Big Data in Real Estate

There are numbers of benefits of Big Data in Real Estate, let’s consider the major ones.

  1. Reduces risks

    Big Data is a great technology for reducing financial risks. How is it possible? Due to predictive analytics. Companies working in the real estate industry can use it to estimate the overall condition of the building based on its age, reconstruction history, and the current owner information. All these help companies make informed decisions as well as provide their customers with up-to-date information and, as a result, increase their satisfaction from working with them.

  2. Improves the customer engagement rate

    Specialists working in the real estate field often come across unclear customer behavior and cannot figure out the reason why they do not like the proposed property and refuse from buying it. Predictive analytics can help solve this problem too. Tailor-made algorithms are able to analyze the needs of the customers and improve their overall experience of cooperating with a company or individual. In other words, real estate agents or companies could offer their customers the property of their dreams by leveraging the power of Big Data.

  3. Calculate the exact price

    The process of precise cost calculation in the real estate industry is rather difficult and time-consuming. It demands full information about a property’s location, condition, etc. The total price can vary depending on these factors, while most customers are willing to know the final price right away. Again, Big Data comes to the rescue by providing all the required information based on the analysis of neighborhood area, building condition, etc. As a result, a realistic price can be calculated.

  4. Allows for data-driven decisions

    Big Data works closely with machine learning and such a combination opens endless opportunities for the business. Just feed the algorithm with necessary data and it will process it to help you make the right decision.

  5. Enhances the marketing strategy

    Many real estate agents use social networks to get the required information about customers. The combination of Big Data and machine learning can define who are ready to buy a property and searching for some options at the moment.

  6. In insurance

    By processing a big scope of data, the algorithm can define what insurance plan is it better to apply in one or another region. This way, insurance companies can create custom plans.

Please let us know if you have any question. It’s our pleasure to help.

Ngoc Nguyen

Full stack with Vue.js and Laravel (p4) – Custom loading effect and alert notification center

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Hi everyone, in the last post, we’d set up the project and config it

Today, we go to custom the autoloading effect forNuxt and make an alert notification center. We will use them very often after.

1. Autoloading effect

In many web application, when you click a link or submit a form… the loading icon will appear like a circle or a text like ‘loading…’

By default, Nuxt project has a very simple loading effect. It’s a line color on top of browser run from left to right. And it runs on every router changed or when we force perform it.

But now, I want to make my loading effect. In this case, I’d like it to be a circle with a transparent opacity background. We overwrite the default loading effect of Nuxt

We go to do it now.

First, you can search and make your favorite effect in HTML and CSS.

Then we create a component named “loading.vue” in components folder, its content is very simple, the template and script section just small like this:

In the template section, it’s just a div tag with id and CSS class, we also add a v-if directive to control it show or hide in script section.

In the script, we declare a ‘show’ property and set up some method to control when it starts, when it finishes, when it fails… For more detail, please see in nuxt default loading component.

The last part of our loading file, we write styles for it:

That’s all in loading.vue file

And now, the last thing we need to do: open nuxt.config.js file and find the ‘loading’ property. Replace it like below:

It means we use our custom loading component instead of the default.

Easy, right? See the result:


2. Make an alert notification center.

To do this, we use ‘vue-notification’ package

The detail in https://github.com/euvl/vue-notification, install it by running this command in Nuxt root folder (here is web-app):

“yarn add vue-notification”

After choosing the notification type you like, we will create our plugin step by step.

The first, create ‘vue-notifications.js’ in folder plugins:

Then, we need to add that file into the ‘plugins‘ array property in nuxt.config.js

The last step, we use the ‘ notifications’ directive in the default web layout, so we can use it everywhere:

Layouts/default.vue

That’s all of the configurations.

Now we will test it.

Make a test page: pages/test.vue

Simple is a button and when clicking on, it will trigger the pushNotification method.

In this method, we set some params: type is alert type (success, info, warning, danger…), title is notification title, and the text property is notification description.

Run page, click the ‘Test Notification’ button and see the result:

Thanks for reading, hope this series ‘s been helpful for you

In next post, we will make login using Nuxtauth and Laravel Passport

See you!

 

Huy Hoang

 

 

 

Data is the answer to securing the physical store’s future

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The British Retail Consortium (BRC) recently issued a press release that announced a record reduction in retail unemployment, with hours worked has gone down by 4.2% compared to the same time last year. According to the BRC’s chief exec, Helen Dickinson OBE, this is due to a technological revolution in retail. TwentyCi’s Commercial Director, Nick McConnell, discusses in a new article for Retail Tech News, some of the solutions for this new landscape.

Nick suggests that the traditional bricks and mortar high street and shopping center retailers are in a period of change, not only due to technological change but also the weaker pound, rise of inflation and squeeze of discretionary spend available. Similarly, the “always on” availability of online stores provides choice and convenience as a new standard has put pressure on these retailers.

So what’s the solution to stop the physical store becoming a thing of the past? Today’s retailer is more empowered than ever to make smart decisions about store locations, ranges and more. This should be combined with clever and relevant marketing; the stores should be using available data to communicate to consumers effectively. Big data underpins the ability to understand the sociodemographic of the store catchment and, with it, the ability to determine the appropriate ranges. Additionally, with the proactive collection of customers’ details through online purchases, collections, refunds, or loyalty programmes the retailer can ascertain further insight into their customer profiles together with the distance traveled and the reason for coming to the store.

The physical store isn’t dead, but it does need to be optimized. Nick describes recent findings from work with a national furniture retailer that customers were choosing to drive past their nearest store in favor of one located in a leisure and shopping destination: “This is reflected in the rise of ‘hero stores’ at the center of shopping destinations such as the House of Fraser at Rushton Lakes or the new John Lewis at Westgate Oxford. Technology can provide retailers with the insight to allow them to reduce the size or number of stores, and optimize the potential of the customers available.”

To read the full article, click here. To read more about our work with other retailers click here.