The applications of BIG Data and Hadoop in Real Estate.
BIG Data enables the accurate management of large scale projects, provides predictive analytics regarding price expectations and provides the foundation of smart homes powered by IoT devices.
Let’s dive deeper into how big data they do it in real estate.
Before we commence, let’s understand what exactly is BIG Data.
Today, Organizations across various sectors generate tremendous amounts of data, we can take social networks for example. Every day 350 million pictures are uploaded on Facebook and Twitter, 6000 tweets published every second. Similarly, sectors like IT infrastructure, healthcare, finance, and retail, real estate generate large amounts of data measured in terabytes and petabytes.
Technically it refers to a large complex and voluminous data sets which can not be processed by traditional database processing application. We’ll discuss later on how it is processed.
Without talking too much let see the application of Big Data and Hadoop in Real Estate
The following are the major applications of Big Data in Real Estate.
- Accurate Management of Large Scale Projects
- Smart search via Lifestyle Scores & Trends
- Detecting Ideal Zones for Development
- Intelligent Homes
BIG Data helps in the accurate reporting of every aspect of a project ranging from Labor performance, construction quality to asset payments, and budgets. This ensures the project meets the required deadlines and specifications. It can also depict delays and remedial measures.
Today, property websites assign lifestyle scores and generate price demand heat maps for specific areas. They can also accurately predict the values of properties in that area within the next few months or years.
For example your sleep patterns are analyzed and when you just wake up the coffee maker starts the brewing process and your bathtub starts filling up Or when there is a case of a break-in or any other hazard the local authorities automatically get notified. All this and more is being made by devices powered by BIG Data Based on property trends and area development
BIG Data can instantaneously infer the best zones in a particular city or state for infrastructural development. This is very advantageous to a buyer as he can make sound investments
What is Hadoop and it serving Real Estate?
What framework enables the derivation of these insights? HADOOP!
Apache Hadoop is an open-sourced framework that allows distributed processing of large data sets across clusters of commodity computers using a simple programming model. Hadoop Is the most powerful, economical and scalable framework in the world today!
This is largely due to its multi-node structure, powered by distributed computing clusters. It fairs extremely well over traditional RDBMS. This is because it works on the principle of parallel processing which enables greater scalability & flexibility. It also features high storage capabilities. A very low barrier to entry and strong capabilities to process unstructured data.
Due to this organisations like Amazon, Yahoo, Google, Apple, and Netflix are moving to Hadoop. This has created a great demand for Hadoop professionals in the technology market. Here are a few reports that showcase the potency of Hadoop in the technology market. It blatantly states that the BIG Data market is growing at the rate of 31.7% every year And almost 90% of organizations have or will embark on Hadoop related projects. If an IT professional upgrades to Hadoop, He can expect a salary hike of up to 250%.
According to Forrester, All organizations unsure of adopting Hadoop in 2014 will adopt in 2015 giving rise to a new economy Coined ‘Hadooponomics’ Please take a few moments to scan through this report. Just a short introduction to Skillspeed! We provide live expert-led corporate endorsed training in BIG Data and Hadoop. This is a 5-week program with a clear focus on projects, case studies, and assignments. Till date, we have trained corporates such as Wipro, ITC infotech, Infosys, Genpact, HP, and many more. These are our course modules These are our corporate partners Thank you for viewing this presentation. In case, you’ve any doubts please let us know by commenting .