2020 and Beyond: The Property Data Your Company Needs to Compete
What would it take to make your company more competitive? To be able to predict the future? To know your customers better? To know what your competitor does not? In today’s data-driven economy, data is the lifeblood that powers those actionable insights to make wiser decisions and ultimately improve the way companies do business.
Today, leading companies are using data combined with the power of advanced technologies in more sophisticated and innovative ways. For example, some retail companies use weather data to predict an increased demand for seasonal items. Top national banks are using predictive analytics to detect fraudulent transactions. Forward thinking hospitals analyze patient reviews using Artificial Intelligence and Natural Language Processing in order to improve the patient experience. It’s no surprise that data and technology are changing our daily lives and transforming countless industries, real estate included. Therefore, ATTOM developed “Data-as-a-Service” (DaaS) to address these industry pain points and reimagine today’s data delivery.
The real estate industry is ripe for disruption and can no longer rely on traditional methods of business as usual. Industry professionals are overwhelmed with paperwork, responsibilities and administrative tasks. Information asymmetry and lack of transparency hinder growing businesses. However, lack of data is not the problem. We are surrounded by immense amounts of data every day. It is estimated that we create 2.5 quintillion bytes of data each day. This abundance of data can understandably be overwhelming. Most data analysts estimate that they spend 80% of their time wrangling and cleaning data and only 20% generating valuable insights from that data. They struggle to extract the essential data that is relevant to their business needs. While there is plenty of data out there, we at ATTOM Data Solutions believe there is a better way to deliver relevant, actionable data that can have lasting impact on the industry.
ATTOM’s Data-as-a-Service removes the time-consuming, messy, and costly burden of data acquisition previously experienced by the industry and delivers timely property data to its customers in a ready-to-use format.
ATTOM customers using Data-as-a-Service today are already seeing value from the data delivery solution. A full-service closing cost company utilizes DaaS data to accurately assess certain fees and deliver timely property insights to its customers. They can more easily ingest data into their platform, eliminating the need for dealing with bulk files, therefore spending less time on updating data and more time on high value-added activities. A leading real estate data marketplace company leverages DaaS to aggregate commercial real estate data into one place and helps deliver next generation intelligence that connects the entire real estate industry. An institutional lending and servicing platform company has been using ATTOM to provide a 360 experience for its borrowers, leveraging the streamlined delivery of high-quality data through DaaS.
At ATTOM, we believe it is just a matter of time before big data and advanced technologies completely transform the real estate industry. Only those real estate experts who integrate data into their company strategies will see bottom-line impact and long-term success. Through ATTOM’s innovative Data-as-a-Service solution, ATTOM is striving to accelerate that transformation by arming businesses and consumers with the property data they need to increase transparency and reduce friction across the industry.
Please contact us if you have questions about the underlying data referenced in this article, or would like to have access to that data in the form of custom reports, API, Bulk File or DaaS.