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Big Data refers to the storage of large amounts of statistics that have piled up over the years or information that is being generated at an extremely fast speed.

Such data is used in predictive analytics, user behaviour studies as well as other algorithms to discover invaluable insights.

The implementation of Big Data analysis is valid across multiple fields including medical sciences, finance, news and even in journalism.


Big Data and Real Estate

Real estate has only off late, begun using data analytics as a key tool and means of information pooling as compared to other sectors.

However, with the increasingly widespread internet penetration and mobile interactions in Malaysia, it is now possible to make use of external Big Data portals to provide property creators (developers) with analytics that place substantial focus on consumer behaviour patterns.

Previndran Singhe founder and chief executive officer of Zerin Properties explains, “a clear example is with regard to how Zerin Properties uses Big Data resources from various service providers to analyse heat maps and consumer behaviour patterns for the particular projects that we are currently in charge of.

With the information that we receive, we will be able to extract the spending habits, travel patterns, demographics and more on a larger scale to analyse and better advise clients who would like to co-operate with us."

Even with the rapid change and innovation of industries today, statistics will always be relevant.

Implementation of Big Data Practices

Big Data and Data Mining are extremely relevant in today’s market. Developers and industry practitioners have already been using collated data within their internal companies to review and tabulate received demographics as well as business sources, to assist with reselling, retaining and creating successful promotional, referral and sales packages.

“As mentioned, external Big Data is widely available, and it all comes down to how an individual or organisation would make use of the collected data.

Based on the experience in my very own organisation, demographics and spending patterns are important for one to take note of in any given business,” Previndran states.

The common question that is always asked is, how important is it for an organisation or individual to allocate funds for Big Data, Data Mining, and Analytics?

Previndran tells, “For my organisation such costs are vital thus, should be implemented into the marketing budget of any project – during planning stages itself. Purchase of development sites, big data and research can be placed under due diligence costing.

Statistics will always be relevant even with the rapid change and innovation of industries today. Internal data mined previously could still be relevant in the future to show trends and market changes. Additionally, it also sets a benchmark of how one can make use of the information collected to improve current and ongoing processes."


Conclusion

It is always in the best interest of companies to collate data (information) with regard to client demands and moving forward making use of the collected data accordingly to make changes in one’s product or sales approach to ensure optimal advancement of one’s business. Thus, wait no longer and take the leap into implementing Big Data practices into your organisation today!

(By Viknesh Ashley Clarence, 7 May 2019)

What do you think about using Big Data practices? Would you implement the use of Data Analytics into your organisation or business? Do let us know in the comments section below.

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Good information, yes data can be helpful, to cut off unnecessary waste of time


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Definitely Big Data will help in many way. But still own inspection and survey also needed. If just rely on Big Data, cant see the picture clearly

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Actually how their data is mined? Do they hire data scientist or collect their data and compile them into excel??