by Paul Cardis
“Big data.” It’s been a buzzword since the early 2000s, but the homebuilding industry is just starting to wrap itself around the concept. What is big data and why should you care about it?
In essence, big data contains what Oracle calls the Three Vs of Big Data: a greater variety of data in increasing volumes and with ever-higher velocity. This means that big data is just larger, more complex data that one can use to make more insightful observations and takeaways. So, why should you care about big data? The answer is this: harness it, and you’ll be that much closer to achieving your business goals. Take a step back and evaluate your business as it stands today. Do you truly understand what your customers like and dislike? Could you describe exactly what they desire in a homebuilding experience?
Digging even deeper — do you have live data on each of your trade contractors to inform you of their performance out in the field? What about data on your products: do you know which model of toilets buyers prefer or which countertops are sure to delight?
Many builders rely solely on experience and anecdotal feedback from buyers to make multi-million dollar business decisions. But they don’t have to. By using the Avid platform builders can harness the power of big data to make more accurate, more efficient business decisions.
At Avid Ratings, our mission is to help clients advance their business goals by offering them cutting edge technology coupled with expert knowledge and dedicated customer service. We’ve recently secured additional funding which will allow us to expand our resources and enhance our products so that we can help our clients take their businesses to new heights. We thank you for joining us on this journey and we invite you to stay tuned as we release exciting new technology in the near future.
One thought on “The Power of Big Data in the Homebuilding Industry”
Great idea–looking forward to hearing more about AVID’s new programs.
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