Digital Transformation of the Real Estate Segment With Big Data and Marketing Analytics: A Case Study From QUOT

Digital Transformation of the Real Estate Segment With Big Data and Marketing Analytics: A Case Study From QUOT

Luciano de A. Barbosa, Sérgio Ricardo Goes Oliveira, Joao Rocha Jr., Emanuele Marques, Sérgio Maravilhas
DOI: 10.4018/978-1-7998-4201-9.ch021
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In this chapter, the birth of a Brazilian start-up is analyzed against the background of the digital transformation of the real estate segment. First, the authors describe the economic importance of the sector and its operation. Then they present the platform that makes use of advanced techniques in the areas of artificial intelligence, visualization, management, and data processing. This platform helps to capture wealth and amount of data in real-time, demonstrating the revolutionary potential of the era of big data and consumer analytics. The text explores the changes that the platform imposes on the traditional real estate model while detailing how the decision-making process in this sector is impacted.
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Marketing And Big Data

The articles related to the discussion on the debate on the use of Big Data to support marketing decisions generally present a conceptual introduction and highlight the five main characteristics that comprise it, namely: volume, speed, variety, truthfulness

and value (Reis et. al, 2016; Sanders, 2016).

Therefore, we will not enter this conceptual presentation since the references in the previous paragraph do so in a very competent manner. What is most relevant in relation to the use of Big Data to support marketing decisions is that the current statistical and econometric models used in the marketing literature do not handle large volumes of data efficiently. With regard to structured data, the recent advances in marketing analysis are able to face great challenges, however with regard to unstructured data there are still major advances to be made. Future solutions for Big Data analysis must be able to diagnose, predict and prescribe approaches to analyze massive amounts of unstructured data. There are already solutions related to unstructured data analysis for data mining in text format and approaches with learning machines (Sanders, 2016; Sivarajah et al., 2017).

The present study seeks to present a possible solution in this sense. In other words, it presents a decision support tool with a focus on unstructured data analysis approach.

Key Terms in this Chapter

Real Estate: Market that includes the sale of new and used properties.

Pricing: Pricing process for a particular product or service.

Artificial Intelligence: It is the area of computer science responsible for building machines capable of learning for themselves with the objective of replicating the human cognitive process.

Big Data: It is considered an area of knowledge that studies how to obtain, process, and analyze data and information considering a large magnitude of structured and unstructured data.

Digital Transformation: Incorporation of digital technology in organizations with the digitization of processes and tasks to solve problems and increase competitiveness.

Realtor: Trained and certified professional prepared to attend the entire process of buying and selling real estate.

Marketing Analytics: Process of measuring, analyzing, and managing data in order to optimize marketing investments.

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