In Proptech (both commercial and residential), accurate and robust address data is essential to effectively doing business. However, across the board, companies are challenged with finding an effective strategy for organizing and consistently cleansing, connecting, and enriching address data.
As a result, companies are experiencing a wide variety of challenges including:
• Lack of reliable, robust 3rd party data
• Inability to capture and understand rapid changes in properties, businesses, and geo-characteristics
• Difficulties in marrying datasets across the Enterprise (round hole, square peg)
• De-centralized repositories of data
• Complex properties can often have multiple valid addresses
• Legal descriptions in a variety of formats lead to discrepancy, inefficiencies, errors, and non-compliance
During this on-demand webinar, you will see how our clients are leveraging our Big Data Geocoding and enrichment solutions to:
• Improve the reliability of property valuation via massive location enrichment for every US property
• Creating automation and consistency throughout the life of a property transaction
• Better predict housing and office lease changes in the future
• Increase accuracy of comps and create amenity scores
• Help consumers make educated decisions with accurate data
3. The global leader in data integrity
Trust your data. Build your possibilities.
Our data integrity software and data enrichment products
deliver accuracy and consistency to power confident
business decisions.
Brands you trust, trust us
Data leaders partner with us
of the Fortune 100
90
Customers in more than
100
2,000
employees
customers
12,000
countries
4. Common themes in Real
Estate/ Prop Tech
• Joining large amounts of address-based
data (internal & 3rd party)
• Moving applications to the cloud to take
advantage of powerful computing- AI/ML
• Industry-wide need for unique and persistent
property ID
• Data enrichment for 360 view of a property
4
5. Messy Location Data => Time + Risk + Inefficiency
• Location is Complex: Addresses, Lat/Long, Shapes,
Lines, Formats
• Data Scientists are not typically used to these data types
• Difficult to join different formats and data types with accuracy
• Lack of reliable, robust 3rd party data
• The availability and quality of data varies greatly country-to-country
• Time to evaluate data is onerous
• Rapid changes in properties, businesses and geo-characteristics
• Keeping a consistent, updated record is crucial for business decisions
• Computationally intense to join and enrich spatial data at scale
• Enriching and adding variables from spatial data is critical, but highly
time consuming
“For every
minute spent
in organizing,
an hour is
earned.”
-Benjamin Franklin
Inventor, Statesman, Insurer
5
6. A location-centric approach to Master
Data Management (MDM)
03.
Analyze
Apply data science at scale
to gain a competitive
advantage
02.
Enrich
Leverage trusted ID to join
massive amounts of your own
and 3rd party data sources
01.
Organize
Assign a trusted ID that is
unique and persistent to each
address
6
7. Master Location Data with PreciselyID
WHAT IS IT: Best-in-class geocoding USA dataset that is built, owned, and maintained by Precisely
WHY IS IT SO ACCURATE: HIGH MATCH RATE + BEST IN CLASS POSITIONAL ACCURACY
Build Data
Merge
De-dup
Standardize
Link to our data
Build linkable data
Pre-score the country
Discover additional
addresses
Manage data
synchronization
Data Transfer
204m Addresses
52.7m Secondary
Addresses
Support for
POI’s in Address
Matching
Assign
PreciselyID
81% Within Building
(or better)
16% Parcel Centroids
97% of all locations are at a parcel
centroid level of accuracy or better
7
8. We’ve assigned a PreciselyID for every address
so you can stop relying on complex multi-field
addresses
Typical Output from Geocoding
8
Mesilla Valley Mall 88011
Input Address Output
700 S Telshor Blvd
Las Cruces, NM 88011-4669 9S6012 CRZ WI53118
Input Address Output
W399S6012 COUNTY ROAD
Z Dousman, WI 53118-9543
1053 Thornton Lake 97321
Input Address Output
1053 NW West Thornton Lake Dr NW
Albany, OR 97321-1352 1 100 #1 10025
Input Address Output
1 W 100th Street, Frnt 1
New York, NY 10025-4857
P0000G4I6A4F P0000PB9B3L2
P0000GL1BBGU
P0000IVQH0XI
8
10. Precisely Big Data SDKs
Fast and flexible Spark APIs to support cloud-based architectures
Component Features
Geocoding
• Address Validation & Geocoding
• Reverse geocoding
• Unique and Persistent Address Identifier
Spatial Processing
• Geohash ID Assignment
• Point and polygon
• Spatial join
• Distance to point, shape, line
• 32 Spatial-specific functions
Street Routing
• Isochrone/Isodistance
• Walk-time/drivetime
• Point-to-Point calculations
10
Now that we have an ID, the real fun can begin. Let’s start to operationalize your addresses.
We have off the shelf data (footprints, POIs, boundaries, etc.) available to quickly enrich your addresses. This is enabled by the pbKey feature within MLD and the fact that we have pbKeys on our enrichment data.
Enriched address provide more context and serve as a better starting point for business operations/challenges/analytics/etc. that appear on the right side of this slide.
Device IDs
Signal strength
Predicted coverage
Data consumption by device
Average monthly bill
Competitive fiber