Data Analysis in Real Estate

Although the term Big Data used in Turkish as Big Data has been in our lives since the 1990s, it has become very popular especially in recent years. When it comes to Big Data, many people collect high volumes of data from different sources originating from Internet of Things technologies and making meaningful analytical conclusions from this high volume of data. understands or tries to tell.

This is certainly true, but the most prominent feature of the concept of Big Data is that it is innovative in retaining, storing and analyzing this high volume of data collected from different sources and different types of data necessity of solutions. Today, there is so much data that can be collected and the data set is so complex that traditional data analysis technologies are insufficient to analyze this data. As a result, new approaches began to be used.

The reason why the concept of Big Data has become so popular is the meaningful results that will be obtained by analyzing this high volume of data obtained from so many different sources. These results can find use in many different areas, from future forecasting of sales to preventing epidemics or reducing the crime rate. Collecting different types of data in different areas of life and making meaningful conclusions from them excites not only business people, but also scientists and government agencies.

Data Analysis in Real Estate

The result of data analysis in the real estate sector is automatic value estimation models that we have started to hear often in recent years. On the one hand, new analysis models are being produced while discussions continue on the need for greater support from statistical methods in real estate value estimation all over the world. The fact that there is more confidence in statistical methods forms the focus of discussions. Data analysis tools allow us to analyze much larger data in a very short period of time and reach its relationship with different factors. But correlation does not mean the same as the cause-effect relationship.

Examples of ice cream sales and murder customs are given to better understand correlation analysis. Even if there is a statistically significant correlation (correlation) between the two factors, it would be quite strange to argue that there is a cause and effect relationship. The two factors that seem statistically related may actually be completely unrelated.

There is no technology that will replace the human brain when it comes to understanding the difference between correlation rates and cause-effect relationships. This is very true in the real estate valuation business, where the variables are too many and the precedentes are generally low.

It is the study of data that makes the appraiser indispensable, reaching the cause-effect relationship, understanding the psychology of buyers and sellers. Automatic valuation models for the development of the real estate sector should be used more by appraisers. The conveniences provided by technology and the indispensability of the human brain will make the industry healthier.

Endeksa Offers Automatic Real Estate Value Prediction Model

The Endeksa an automated real estate value prediction model that has analogues abroad but is not similar in Turkey. The map presents sales, rent data, recycling times on a regional basis, as well as demographic information of residents in the region, socio-economic status, living quarters in the region. In addition, detailed information such as housing sales, e-commerce density, household income level in the region are also included. Users can find out the net worth of the dwelling by specifying the details of the residence in a particular region. In addition to all this, users can get an opinion on the value of real estate from an Endeksa appraiser who dominates the region or visit the real estate to prepare a report. able to provide.

You can find our previous post at https://www.endeksa.com/tr/blog/yazi/otomatik-gayrimenkul-degerleme-nedir-faydalari-nelerdir link.