Swiss Real Estate
Big Data Analytics
Transformation of the real estate industry: Big Data Analytics
By using data analytics and artificial intelligence, real estate owners can match supply and demand and have an opportunity to have predictive analysis and recommendations.
Machine learning and AI
Machine learning focuses on the development of computer programs that can change when exposed to new data. The process of machine learning is similar to that of data mining, as both systems search through data to look for patterns.
In the realm of technology, data is wealth, and artificial intelligence is the key to unlocking this wealth. Artificial Intelligence, as the name suggests, is teaching the computer to think like a human, making sense of the data fed to it.
With the proliferation of data, increased computing power, and availability of algorithms, AI is able to unlock valuable insights from everyday data. In the real estate context, macroeconomic data, transaction data and property features can be used to determine the current valuation and future value of a property. There is only so much information the average human brain can process, whereas for AI, this is determined by computing power, which is currently being augmented at an exponential rate. Put simply, algorithms process the relevant data sets, establish the relationships between them, and project that relationship onto new query parameters to find the unknown.