Industry executives betting on analytics, automation, and big data

by Ephraim Vecina11 Aug 2017

A recent survey by a U.S.-based firm found that industry thought leaders are expecting significant opportunities stemming from technologies such as predictive analytics, marketing automation, and big data over the next 5 years.

The Imprev Thought Leadership Survey—the results of which were released in the largest real estate technology conference in the U.S. this week—took industry executives’ pulse on developments that are promising to have significant implications for the real estate sector across North America.

Fully 65 per cent of the survey’s respondents noted that they would likely bet on predictive analytics, with the same proportion gravitating towards marketing automation. Meanwhile, 64 per cent favoured big data.

On the other hand, less than half of the real estate professionals surveyed showed an inclination to invest in augmented realty and virtual reality 3D tours (46 per cent each). The respondents expressed the least confidence in artificial intelligence (30 per cent).

Surprisingly, real estate portals were not rated as highly as their recent proliferation would suggest.

“A mere 20% of respondents rate real estate portals … as one of their ‘most important real estate marketing channels and technologies’ five years from now,” Imprev said. “They predict Mobile Apps (48%), Social Media (45%) and Video (44%) -- the technology trifecta -- will be more important in 2022 than portals.”

“Real estate leaders looked into the future and became very pragmatic,” Imprev CEO Renwick Congdon said. “They clearly anticipate investing only in tech that can provide a hard ROI, which means avoiding the latest fads. They’re under more pressure to deliver results and need proven marketing infrastructure to make that happen.”

The full survey results can be accessed here.

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