Data is a lot like a Peloton bike. It looks good and is great to have, but it only makes a significant impact if you put it to solid use.
Undoubtedly, data collection has become a primary objective for apartment operators over the past several years. But applying data in a manner that genuinely moves the needle remains elusive for many.
Utilized properly and effectively, the business intelligence derived from data can solve several pain points. From advanced submarket analytics to the ability to uncover undetected renter tendencies to intuitive pricing insights, the possibilities are aplenty. The challenge is rooted in converting raw datasets to actionable uses.
Here are a few recommendations to uncover the secret sauce contained within the data: continue
Practical Applications for Multifamily
As natural language solutions become more advanced, the multifamily industry is taking notice—albeit at a measured pace.
AI-fueled innovations such as chatbots are a great fit for the apartment world and are becoming increasingly popular. As machine learning acquires a stronger grasp on natural language, chatbots can adeptly answer a wider variety of questions from prospects in instant-messenger fashion.
So far, multifamily hasn’t delved much further than chatbots when incorporating natural language solutions into their processes. But the technology has significant potential to offer a variety of new solutions to the industry moving forward: continue