Data has made its way into almost every aspect of our lives, and real estate has not gone untouched. Whether it’s negotiating a lease or evaluating a ground-up development, the data used by real estate firms has become a crucial driver of their business decisions. However, real estate data is no longer limited to lease comparables or historical building information.
One look at the list of the largest companies in the world tells you all you need to know about the value of data. The top three, Microsoft, Alphabet, and Amazon, are also the biggest data aggregators in the world. Commercial real estate is one of the industries that rely heavily on data in order to make what can be incredibly profitable or devastatingly costly decisions.
At this point, the real estate industry has been hearing about the importance of data for so long that it is starting to lose its impact. Besides, even the least technological broker or landlord knows well the value of data. They may not call it "data" but every career or portfolio is built on top of market knowledge.
Most real estate firms today find themselves dealing with massive amounts of data. Between tenant leases, property management records, historical building data, and local economic and demographic information, firms have more capability to produce actionable insights with their data than ever before.
All science is based on statistics. Science relies on data, whether it is used to prove a hypothesis or to create a mathematical prediction. Statistics even became its own subset of mathematics. Once computers became the primary tool for scientists to collect and analyze large amounts of data, a new subset of computer science was proposed.

Connect with Cherre

Cherre is the leader in real estate data and insight. We connect decision makers to accurate property and market information, and help them make faster, smarter decisions. By providing a unique “single source of truth,” Cherre empowers customers to evaluate opportunities and trends faster and more accurately, while saving millions of dollars in manual data collection and analytics costs.

Image - Design