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Real Estate

The Challenge

In today’s world still reeling from the global pandemic enterprises in every sector are transforming themselves to become more data driven and more efficient. For the leading real estate developer in the United Arab Emirates, this entailed applying its wealth of historical data to improve functions like project planning, project estimation, and sales and marketing. Because the company has traditionally relied on multiple point solutions, much of its data resources were siloed and hard to access for a more holistic approach to decision making.The existing approach also could not easily ingest or use unstructured data. The developer wanted an integrated, end-to-end data platform to facilitate better connections between and among every function and to provide insights that would improve decision making and drive growth.

Solution

We designed and developed a centralized data analytics platform that could aggregate and store relevant data from more than 40 systems across the enterprise using the Microsoft Azure cloud. In addition to aggregating enterprise- wide data, the decision science platform provided users with all the tools required for managing data ideation, integration, and exploration, and for enabling model development and deployment. The solution included a robust presentation platform that helped the developer to better understand the significance of its data visually through patterns, trends, and correlations.

The company identified several key use cases for the new data platform: a 360- degree perspective of customers across business units and segments, lead scoring, digital channel performance analysis, project benchmarking to improve estimates, and knowledge engine to improve its ability to develop estimates for future projects. We also built and deployed an artificial intelligence-based knowledge engine designed to generate insights from the developer’s enterprise-wide data universe.Finally, We created a data management and governance strategy,enabling the real estate developer to effectively handle and process all useful data going forward.

Project (1)

Business Impact

The new data analytics platform achieved all the developer’s key goals with respect to project planning, estimation, and sales and marketing. For the first time, the firm was able to create a 360-degree view of its customers, which enabled better segmentation and stronger customer relationship management initiatives. Better key performance indicators for lead scoring helped the firm prioritize sales efforts, fuel conversions, and drive growth. The new platform also provided engagement analysis that improved the developer’s digital marketing and social media efforts. The firm’s lead conversion rate improved dramatically by 53%. In addition, the cost per conversion dropped by 20% because of improved marketing channel performance visibility and the elimination of irrelevant leads.

By enabling easy access to unstructured data and analysis on various data points, the knowledge engine enables the company to more accurately benchmark projects, analyze cost variations across projects, and make better estimates for future projects. This improves overall efficiency; in fact, employee productivity improved by 23% thanks to insights from the new knowledge engine as well as AI/ML-driven customer intelligence. By turning data into an asset, the developer has found multiple ways to improve ROI.