Big data is a growing, mainstream trend that is impacting businesses across different industries, and real estate is no exception. Big data has revolutionized the real estate industry in the last decade and opened up many opportunities. These changes have transformed almost every aspect of real estate operations, and the industry is now leveraging data as one of its largest commodities.

With the power of big data, businesses can conduct predictive analysis and build customer-centric algorithm models to remove the guesswork and gain accurate insights into expectations, consumer behavior, buying patterns, and other important aspects of real estate. Businesses can use this data to determine real estate pricing models, customer preferences and consumer trends, allowing them to make smart business decisions and generate higher revenues.

Here is a look at what big data is all about and how leveraging data has played an influential role in the modern real estate …