Skip to main content

Location Data: Helping CRE Find It's Way in 2019


Data is today’s most powerful tool. Two years ago, The Economist made a seemingly bold statement, saying that the world’s most valuable resource is no longer oil, but data. It’s 2019 and the truth of this statement is more real than ever before. 

 Data’s influence is nothing to take lightly. Not only does it greatly enhance technology’s possibilities, but it’s also helping major industries find creative solutions to common problems.

One such example would be location data used within commercial real estate. This valuable asset is helping to bring the industry out of the dark ages by harnessing the power of information. Let’s explore how this ocean of data is transforming the world of CRE.

Insight, Not Intuition

In the past, finding success in the CRE industry was mainly based off of pure intuition. That gut-feeling was the major drive for new building projects and investments. 

 The industry’s talent laid in a professional’s ability to predict the newest trends and come up with a probable forecast. However, these predictions were a huge gamble - and in some cases, even a billion-dollar wager.

With loses so intense, the industry was in dire need for hard data. CRE needed real facts, evidence, and probabilities that tipped into absolutism. Location data is serving as the contemporary antidote to CRE’s most common issue - a lack of insight. 

 By collecting, organizing, and analyzing this large web of data, the industry has been able to transcend guesses and make solid predictions.

Understanding Today’s Consumers

The world around us changes at an incredible rate, and modern consumers change right along with it. Data provides amazing clarity when it comes to predicting consumer behavior. 

Location data provides accurate insights into client relationships and experience, and it’s allowing CRE to zero-in on their business approach. By knowing how clients commonly respond, what they’re expecting, and what can break a deal; it’s easier to create successful strategies.

Advanced Marketing Accuracy

Advertising is hard for any industry, and CRE is no different. When it comes to commercial real estate marketing, accuracy means everything. The pool of prospective clients is incredibly diverse, and this presents a great challenge for professionals in the field.

Location data helps CRE execute marketing strategies with unmatched finesse. The data can predict the best method, timing, and area to launch a specific marketing plan. On top of this, it zooms in on specifics of different advertising campaigns and can tweak them to better connect with a target audience.

Planning The Next Move

With location data, planning for the future is clear and simple. Data tracking can build a reliable map for the future of an industry, helping investors and developers plan for the next big trends. With such a solid insight into what’s coming next, CRE professionals avoid major losses and can always stay ahead of the game. This proves that knowledge really is power - especially when it comes to business.

Location data serves as a savior for the CRE industry. What’s your favorite way to use data?


Comments

Post a Comment

Popular posts from this blog

4 CRE Trends We Can Attribute to Millennials

Today’s workforce is undergoing a major shift in population. As of 2017, 56 million Millennials are either working or actively searching for work , making them the largest segment of the U.S. labor force, surpassing Gen Xers in 2016 and this will eventually lead to an impact of office space needs and what companies are looking for with new office leases.   More than one out of every three American workers is a Millennial -- more than Gen Xers and much more than Baby Boomers. And, just as every other generation that came before them, Millennials pride themselves on marching to the beat of their own drum, if you will -- wearing different clothes, listening to different music, and working differently. The very idea of where and how we work is undergoing a revolution right now, with major changes being made in physical design and decor. Here’s a closer look at 4 CRE trends we can attribute to millennials… 1. Millennials prefer non-traditional workspaces   ...
Post a Comment
Read more

NAI Emory Hill Sells Wilmington Shopping Center

  Wilmington, DE – NAI Emory Hill ( www.naiemoryhill.com ) is pleased to announce the sale of a 8,710 square foot shopping center located at 2308 Concord Pike in Wilmington, DE to The Wittig Family at DSM Commercial. Dave Morrison and Jim O’Hara Jr., of NAI Emory Hill, represented the purchaser and Seller in this transaction. This retail center is anchored by Mattress Firm, Green Drop and China Inn. The center is strategically located at the intersection of Sharpley Road and offers a great retail location along the busy Route 202 corridor. NAI Emory Hill is a completely full-service commercial and residential real estate firm serving Delaware and the surrounding counties of Maryland, New Jersey and Pennsylvania. Founded in 1981, we have the resources to design, build, finance, lease, sell, manage and maintain commercial and residential properties throughout the Mid-Atlantic . Learn more about our services at: www.propertymanagementdelaware.com www.emoryhillhomes.com
Post a Comment
Read more

PropTech 101: What CRE Professionals Should Know

Everyone in the CRE biz has doubtlessly heard the term proptech getting thrown around. Whether it’s been in article headlines, on the web, or during business conversations; ‘proptech’ has officially integrated into the commercial real estate vocabulary. Unfortunately, there isn’t always an on-hand dictionary available to help novices decode the latest and greatest CRE lingo. While proptech popularity has surely skyrocketed during 2019, some of us still may be confused as to what exactly proptech is. We’re happy to clear up the confusion; covering what proptech actually is and why CRE professionals should care. PropTech Explained The moment you’ve been waiting for is here… when you finally get a concise definition of the term PropTech. According to real estate technology experts at Forbes , proptech is ‘the acronym used to describe any technology for the real estate space.’ If that’s not clear enough, here’s another universally-accepted explanation devel...
Post a Comment
Read more