Working with engineers and data scientists, Immobiliare.it has announced a new big data analysis offering to offer more transparent and simple data streams for real estate professionals in Italy.
Called Immobiliare Insights, the new operation is composed of engineers and data scientists who will process and study real estate data in order to offer consumers an easier way to access information on the Italian market. Its audience will be banks, investors, builders, and real estate professionals, along with those in the valuation sector. The service leverages the largest repository of the Italian market in order to become the leading reference for all things real estate.
Antonio Intini, Immobiliare.it Chief Business Development Officer and Head of the new BU, said:
"In sixteen years Immobiliare.it has accumulated an enormous amount of data concerning the trend in prices, demand, and supply and has structured a database already used by various institutional bodies and universities for their official studies on the real estate market.”
Immobiliare Insights will also operate the company’s Research Department, which will funnel market analysis to the press and everyone interested in learning about the latest industry trends.
“We integrate this precious data resource with a strong analytical and technological competence that allows us to process and interpret market trends and indicators, making them readable thanks to analyzes and customized studies based on the needs of each client.”
The new company will analyze over 300 territorial variables a day, integrating over 30 million supply data points with a temporal coverage of over 10 years and more than 1 billion data on demand.
This technology will also enable more accurate evaluations thanks to the advanced automatic evaluation models (AVM), which offer proprietary predictive algorithms based on AI technology to offer users a more reliable view of the future market.
Big Data insights are important for the modern real estate website, as consumers are always looking to get a leg-up on the competition. What's more useful for that goal than backing from technology that predicts the market's future trends more accurately than rival websites?
Big Data can be used to predict home valuation trends, consumer behavior insights, and more. REA Group recently announced a new consumer behavior insights innovation to offer its agents information on trends so they can accommodate their consumers before their competition can. Residential People also recently launched a market insights tool in order to empower agencies so they can better compete in the UK market. Another UK portal, OnTheMarket, is working towards empowering its agent partners with data insights that help generate leads and close sales.