Big Data Solutions for the Real Estate Industry

1、 In the Era of Big Data, the Traditional Real Estate Industry Needs to Actively Embrace

‘Big data’ and ‘Internet +’ two superstars have penetrated all major fields and industries in a viral manner, and everywhere they go, they start a prairie fire, impact, and subvert. Favorable weather, location and people will help big data to reach its peak.

As a representative of traditional industries, the real estate industry has demonstrated its strong vitality from its rise to vigorous development. The current era of big data is like a storm. The real estate industry must face and actively embrace the arrival of this storm, fight and wake up in this storm, accept the test, and meet the great opportunity for the rapid development of the real estate industry again. Yes, we heard the cry of the real estate industry: let the big data storm come more violently.

2、 Typical Application of Big Data in Real Estate Industry

Big data cannot be unilaterally understood as ‘a large amount of data’. It has 4V characteristics. The application of big data is more a new way to solve problems. In the era of fast changing big data, the traditional real estate industry must use big data technology in the key links of the business chain to conduct scientific data analysis, to help enterprises improve insight, assist enterprises in decision-making, establish differentiated competition, and occupy a place in the fierce market competition.

The big data technology in the real estate industry has been applied in various aspects. Its core is the customer, and the goal is to improve the product removal rate. For example, product positioning, innovation, pricing, advertising, marketing, risk prediction, supply chain management, customer churn prediction, customer service based on customers are all big data application fields.

3、 Zhong’an Real Estate Big Data Application Practice and Planning

As one of the leading real estate developers in the Pan Yangtze River Delta, Zhong’an real estate was engaged in the real estate industry earlier. Although it is a veteran member of the traditional industry. The stuffs of Zhong’an are not satisfied with the current success. They always maintain a high degree of vigilance and keen insight to seek the long-term sustainable growth and development of the company. In particular, the Zhong’an technical team, the big data concept always touches the nerves of the team and constantly stirs the thinking of team members. The huge value released by big data in the real estate industry has attracted the interest and attention of the whole team. Exploring and learning how to seek new development for the company with the help of big data has become the theme of the information development of Zhong’an, and it is also the problem and challenge in front of the technical team of Zhong’an.

Zhong’an’s technical team, which is good at learning and thinking, has continuously accumulated, and explored under the condition of zero foundation, and has joined hands with the well-known Oracle company in the industry to establish a real estate big data research center. It has made preliminary planning and long-term development goals for the big data development strategy of the company and the real estate industry. Zhong’an real estate company adopted Oracle’s big data solution, purchased the leading all-in-one software and hardware equipment and products in the field of big data technology, and received high-level guidance and training from many experts of the original factory. With the cooperation of an experienced implementation team and through its own practice, it has achieved initial results in the application of real estate big data.

  1. Project Positioning: Big Data Subverts the Traditional Positioning Mode

In terms of project positioning, the power of the Internet should not be underestimated. For example, information about residential projects, such as the size of the area, the house type, the supporting facilities of the community and the underlying business, the style and sales of surrounding competitive products, and the saturation of products, can be obtained from the Internet before the construction of the project. For example, for commercial office projects, the proportion of catering, brand preferences, age structure and income of consumers can also be learned in advance on the Internet. By using big data technology to crawl valuable information resources on the Internet, the company can obtain potential customer information in advance and carry out project planning according to customers’ preferences. In the past, data collection often relied on questionnaires, which not only cost a lot of human and financial resources, but also the results received were often limited and prone to large deviations. The target user group established through big data technology has made comprehensive research on supporting businesses, house type structure, number of parking spaces, property services and other supporting facilities. The products finally launched are very popular and serve as the marketing of the project. Lay a good foundation for deregulation and income.

Similarly, big data also plays a considerable role in the positioning, planning and investment promotion of commercial real estate. The best proportion of catering, consumers’ age structure and brand preferences can also be known in advance through big data. Using big data, the company makes accurate forecasts of potential customers and target markets and makes specific business plans according to consumer information. The use of big data in project positioning means that traditional positioning means may no longer be applicable in the future. Internet + is a major trend in the real estate industry in the future. Through the practice of the current big data positioning mode, the technical team of Zhong’an has seen hope, and has also faced up to the problem of big data technology to achieve project positioning. How to improve the technology, how to adjust the existing technical solutions, how to accumulate new technical talents, and how to obtain data are all issues that the technical team of Zhong’an should deeply consider.

  1. Project Marketing: Accurate Launch of Big Data

Project precision marketing is the second application field of Zhong’an big data application, and has started planning, research and development based on the technology of project positioning.

Nowadays, more and more real estate developers choose the Internet marketing mode when they are marketing their projects. Through online publicity, potential customers can be better captured and transferred offline. Unlike traditional marketing methods such as TV, newspaper, subway and outdoor advertising, online marketing is often more accurate and cheaper. Now the means of Internet marketing are also increasing. Zhong’an crowdfunding has begun to test the water in marketing and achieved remarkable results.

In terms of project marketing, developers began to integrate more and more Internet factors, and saving money and marketing costs is the biggest discount investors get in crowdfunding.

At present, real estate marketing still relies on traditional media to a certain extent. People flow gathering places such as newspapers, subways and buses are still the focus of advertising by real estate developers. Weibo and WeChat public accounts also play a certain auxiliary role in marketing. However, in the future, traditional media are likely to be completely replaced by the Internet. According to the data of China Internet Information Center, as of Dec. 2014, Chinese per capita online time had reached 3.7 hours a day, and the utilization rate of instant messaging,

including WeChat, was as high as 91.2%. How to accurately put advertising on potential customers’ mobile terminals during this period is a challenge to the existing ability of real estate developers. Through the reserve and research of big data technology, Zhong’an stuff will be able to meet new challenges soon.

  1. Revenue Management: Need Big Data Technical Support

Profit is always the most sensitive indicator of an enterprise. Zhong’an technology team has made the following plans to address the innovation that big data can bring to enterprise revenue and the important role it plays in revenue management:

Revenue management aims to sell the right products or services to the right customers at the right time, at the right price, through the right sales channels, and finally achieve the goal of maximizing corporate revenue. To achieve the goal of revenue management, demand forecasting, market segmentation and sensitivity analysis are the three important links of this work, and the basis for the promotion of these three links is big data.

Demand forecasting is to make enterprise managers master and understand the potential market demand of the real estate industry and the product sales volume and price trend of each market segment in the future through the statistics and analysis of the constructed big data, adopting scientific forecasting methods, and establishing mathematical models, so as to enable enterprises to adjust the supply-demand balance of the market through the price lever, And implement dynamic pricing and differential pricing for different market segments. The advantage of demand forecasting is that it can improve the foresight of enterprise managers’ judgment on the real estate market and put them on the market with appropriate products and prices in different market fluctuation cycles to obtain potential benefits.

Market segments provide conditions for enterprises to forecast sales volume and implement differential pricing. Its scientific is reflected in the formulation and updating of prices through the market demand forecast of the real estate industry, to maximize the income of each market segment.

Sensitivity analysis is to optimize the prices of different market segments through the demand price elasticity analysis technology, to maximize the potential income of the market.

Demand forecasting, market segmentation and sensitivity analysis require a large amount of data. However, traditional data analysis mostly collects the historical data of the enterprise itself for forecasting and analysis. It is easy to ignore the information data of the whole real estate industry. Therefore, it is inevitable that the forecasting results will be biased. Zhong’an technical team preliminarily plans to collect more real estate industry data, understand more real estate industry market information, formulate accurate revenue strategies for the company and promote higher earnings based on its own data and some automated information collection software during the implementation of revenue management in the future.

  1. Network Public Opinion: Big Data Collection and Monitoring

Network public opinion is a double-edged sword. Collecting and monitoring network public opinion is also one of the contents of big data planning of Zhong’an.

With the innovation and development of forums, blogs, Weibo, WeChat, e-commerce platforms, and other media on the PC and mobile terminals, public information sharing has become more convenient and freer, and the initiative of the public to share information has promoted the development of online public opinion.

As an enterprise in the real estate industry, it uses big data technology to collect network public opinion, establish a large database of network public opinion, and then use word segmentation, clustering and emotional analysis to understand consumers’ consumption behavior, value interest, new consumption demand reflected in comments and enterprise product quality problems, to improve and innovate products, quantify product value, formulate reasonable prices and improve service quality, so as to obtain greater benefits.

As a listed company, widely concerned by the public. Negative online public opinion not only affects the corporate reputation, brand, word of mouth, and purchasing behavior, but also affects the corporate capital market and immediately affects the stock price changes. Therefore, the network information monitoring of listed enterprises is particularly important, especially the sensitive and harmful information needs to be known at the first time, and reasonable measures should be taken to communicate with the public at a reasonable time to establish mutual trust, so as to reduce or eliminate the negative impact. Eliminating the impact of negative network public opinion is also inseparable from big data technical support.

Big data is not a mysterious word. With their intelligence and positive and pragmatic work style, through continuous accumulation and self-improvement, Zhong’an technology team will be able to make big data work for me, effectively help the company improve its market competitiveness and profitability and achieve good benefits. Realize the magnificent turn of Zhong’an in the era of big data.