HOUSING NEWS REPORT
ATTOM DATA SOLUTIONS
equalizer, and as the arena of big data refines, companies that learn to utilize the information correctly have begun to emerge as leaders. Data points need to be connected, like puzzle pieces that lead back to the larger picture. Im- provement comes in the form of refine- ment. Using multiple data points and tying them together to target the right buyers is a matter of knowing who they are, when they want to buy and how you can reach them. It sounds simple, but the sheer volume of data requires something more than basic integration and human interaction. lies in the integration of Artificial Intelligence (AI) into data gathering analysis. In the simplest of terms, it can be thought of as automation on steroids. As a result of the recent rise of AI, especially supervised learning and machine learning, the amount of pro- cesses that can be automated has risen exponentially. New Vantage Partners, a strategic advisory firm that guides many Fortune 1000 companies’ technology initiatives, conducted a survey earlier in 2018. The primary findings of this survey was that 97 percent of C-level executives report that their companies are investing in building and launching big data and AI initiatives. From this survey there was a growing consensus that AI and big data are becoming closely intertwined, if not synonymous. The corporations surveyed report that they have direct access to meaningful volumes and sources of data that can feed AI algo- rithms to detect patterns and under- stand behaviors. The integration of AI into big data analysis produces a range of business benefits and results in much more accurate ability to THE PROMISE OF AI One of the most promising solutions
predict consumer behavior. In the past year, companies such as American Ex- press and Morgan Stanley have publicly shared stories of the successful use of their AI-analyzed data. In a recent keynote address, a prom- inent executive within Mellon Bank stated that the availability of big data technology, combined with the volume of information, is unparalleled to what was available via paper in the past. He further punctuated his speech by saying with the additional mixture of artificial intelligence analysis, businesses are going to see an unprecedented accuracy in predicting customer behavior. Likely.AI is an artificial intelligence company specifically designed for the real estate and mortgage industries that leverages our patent to utilize AI and big data to build schemas to meld the data for better, proven results. We have assimilated data for 155 mil- lion properties with a 225-million-re- cord demographic dataset that One of the most promising solutions lies in the integration of Artificial Intelligence (AI) into data gathering analysis. In the simplest of terms, it can be thought of as automation on steroids. As a result of the recent rise of AI, especially supervised learning and machine learning, the amount of processes that can be automated has risen exponentially.” LIKELY.AI’S BIG DATA APPROACH
AI and Deep Learning Help Solve the Big Data Puzzle for Real Estate
BIG DATA SPAGHETTI TEST Therein lies the problem. Most data companies are nothing more than list optimizers. Looking backward to pre- dict behavior. Much of the data is highly siloed, rendering it ineffectual. Still oth- er companies have residually gathered data from their core product, and, while realizing it has value, have insufficient knowledge of how to use the information. Neither one of these are sustainable business models. These types of companies continue to change their business approach and modify their practice with the virtual spaghetti test — throwing questionably cooked big data products at the wall in hopes they will stick. As it has been said, time is the great
"MY TAKE" ARTICLE FROM HOUSING NEWS REPORT BY ATTOM DATA SOLUTIONS.
by Brad McDaniel, CEO, Likely.AI
R
eal estate is an industry that is undergoing drastic changes.
about varying commission structures and diverse business models, the real change is coming in the form of big data. Spend any amount of time at a real estate conference these days and you’ll hear about big data. It’s as much of a buzzword as climate change — and just as misunderstood. As theoretical physicist, Stephen
Hawking said, “We are all now connect- ed by the Internet, like neurons in a giant brain.” Data is everywhere and much easier to collect. Every time you swipe a card, push a button or browse a Web page you leave bread crumbs behind. A trail easy to follow if you know how to put the pieces back together.
A big data revolution is on the horizon. This massive industry that boasts an annual revenue of $235 billion with over 200,000 residential brokerage companies and over 1 million loan officers has been overdue for a major shift. But while the debate rages on
42 | think realty magazine :: october 2018
thinkrealty . com | 43
Made with FlippingBook - professional solution for displaying marketing and sales documents online