Advances in today’s statistical models are enabling apartment executives to make operational decisions they couldn’t have dreamed of just a few short years ago.
BY GREG WILLETT
In general, those of us in the apartment industry haven’t yet jumped into the deep end of the Big Data pool. But our toes are in the water, and we’re likely to be swimming laps at a fast and furious pace soon.
The most common example of predictive-analytics usage in the apartment sector right now is background screening of prospects looking to rent housing. You currently can check a would-be resident’s credit score, criminal history, and rental payment patterns in a matter of seconds. A few years ago, compilation of this information took days or wasn’t possible at all. Furthermore, once the information is in place, you’re no longer forced to rely on gut instinct to determine what the data suggest about a prospect’s likely behavior. A statistical model predicts whether he or she will pay the rent on time and be a generally responsible resident.
Read more...Big Data, Big Strides via Apartment Finance Today
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.