HOUSINGNEWS REPORT
HOUSING PRECOGS: BIG DATA PREDICTIONS BEYOND HEURISTIC HUNCHES
HOTTEST HOMEBUYER NAMES IN 2017 YOY PCT CHANGE IN HOMES PURCHASED IN 2017
1%
184%
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tilting the playing field – you’ll need to understand how before your competitors do.” Proper Care & Feeding of AI Data is just part of the equation — and a relatively small part at that — when it comes to applying AI principles to predicting future real estate transactions, according to Brad McDaniel Co-Founder and CEO of Likely.AI, a company that provides AI-driven leads to the real estate and mortgage industries. “With the most advanced version of AI, called deep learning, which is what we use, only 10 percent of the final prediction decision is determined by the data itself,” he said. “That is because 90 percent of the predictive power comes from the extremely complicated interactions between the layers of neurons within the deep
“Generally speaking the growth of data across every part of the economy and our personal lives has provided us predictive modelers the ability to better understand how various pieces of a person’s life affect their decision-making. Everything is now on the table, from our social activity to current headline news to the types of products we buy online.”
ALEX VILLACORTA EVP AND CHIEF ECONOMIST, HOUSECANARY
“That’s ten times the 16.1ZB of data generated in 2016. All this data will unlock unique user experiences and a new world of business opportunities.” While data by itself has some innate value, it becomes exponentially more valuable when sorted and analyzed with artificial intelligence.
at HouseCanary. “the growth of data across every part of the economy and our personal lives has provided us predictive modelers the ability to better understand how various pieces of a person’s life affect their decision- making. Everything is now on the table, from our social activity to current headline news to the types of products we buy online.”
“Generally speaking,” explains Alex Villacorta, EVP and chief economist
“For a growing number of industries,” says McKinsey & Company, “AI is
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MAY 2018 | ATTOM DATA SOLUTIONS
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