COVID 19 & Real Estate - How Digital Technology will create impact in this era?
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The slides were used for webinar at PIBM and talks about how sales & marketing and construction will go through a digitisation process during and post the pandemic
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COVID 19 & Real Estate - How Digital Technology will create impact in this era?
- 1. Webinar – PIBM COVID 19 & REAL ESTATE How Digital Technologywill createimpactin this era? #Home Search Simplified
- 2. REAL ESTATE IN INDIA Why its critical for India’s growth?
- 3. real estate in India www.pinclick.com • Real Estate sector is expected to reach US $1 trillion by 2030 • It contributes to 13% of India’s GDP • 2nd largest employer in India after agriculture • Expected to add 200m square feet every year starting 2019 • 4th largest sector in India in terms of FDI inflow ~ US $39 billion btw 2000 to 2018 • Housing for all initiative to bring US $1.3 trillion investments
- 5. …and growing household income & urbanization www.pinclick.com
- 6. summary – growth going ahead… www.pinclick.com
- 7. CHANGES IN CONSUMER JOURNEY Before & After Pandemic
- 8. customer journey – before & after pandemic www.pinclick.com reach understanding transaction referrals outdoor endorsements newspapers social media Internet streaming private comm – SMS, Email etc digital ad networks project sites roadshows online reviews word of mouth e-commerce web searches endorsement experience at the project site channel partners official websites internet streaming word of mouth reviews loyalty memberships Use of internet will lead to digitisation of various touch points Stronger touch points after pandemic Weaker touch points after pandemic Source – Reference taken from “Future Consumer Series by Deloitte”
- 9. …leading to a digital first response www.pinclick.com reach understanding transaction referrals outdoor endorsements newspapers social media Internet streaming private comm – SMS, Email etc digital ad networks project sites roadshows online reviews word of mouth e-commerce web searches endorsement experience at the project site channel partners official websites internet streaming word of mouth reviews loyalty memberships Use of internet will lead to digitisation of various touch points Stronger touch points after pandemic Weaker touch points after pandemic Source – Reference taken from “Future Consumer Series by Deloitte” Customer acquisition virtual open houses augmented reality omnichannel reach personalized sales digital assets Customer engagement virtual communities telehealth contactless access Internet streaming meetings content driven
- 10. CHANGES IN CONSTRUCTION Before & After Pandemic
- 11. construction has been the least digitized industry.. www.pinclick.com Source – McKinsey
- 12. five trends shaping construction industry www.pinclick.com Source – McKinsey
- 13. high definition surveying & geolocation www.pinclick.com Source – McKinsey
- 14. 5-D information modeling www.pinclick.com Source – McKinsey
- 15. digital solutions delivering seamless experience.. www.pinclick.com Source – McKinsey
- 16. internet of things and analytics www.pinclick.com Source – McKinsey Sensors, near-field-communication (NFC) devices, and other technologies can help monitor productivity and reliability of both staff and assets. There are several potential uses: • Equipment monitoring and repair. Advanced sensors can enable machinery to detect and communicate maintenance requirements, send automated alerts for preventive maintenance, and compile usage and maintenance data. • Inventory management and ordering. Connected systems can forecast and alert site managers when stocks are running short and when orders need to be made. NFC tagging and tracking of materials can also pinpoint their location and movement and help reconcile physical and electronic inventory. • Quality assessment. “Smart structures” that use vibration sensors to test the strength and reliability of a structure during the construction stage can detect deficiencies and then correct them early. • Energy efficiency. Sensors that monitor ambient conditions and fuel consumption for assets and equipment can foster on-site energy efficiency. • Safety. Wearable bands can send alerts if drivers and operators are falling asleep or if a vehicle or asset is stationary or nonoperational for a given window of time during shift hours.
- 17. future proof construction www.pinclick.com Source – McKinsey About 80 percent of all construction work is still done on-site, but many project developers and contractors are deploying new off-site approaches that help them improve predictability, consistency, and repeatability. Several techniques show potential: • Preassembly. Relatively simple structures, such as factories and covered yards, can use in-factory or in-yard assembly for a complete building envelope. • 3-D printing. Printing submodules or complete concrete structures before assembly and internal work could transform the industry with respect to design, cost, and time. • Robot-assembled construction. Robots are now being selectively used for repetitive and predictable activities, such as tiling, bricklaying, welding and spool fabrication, demolition, and concrete recycling.
Editor's Notes
- Geological surprises are a major reason that projects are delayed and go over budget. Discrepancies between ground conditions and early survey estimates can require costly last-minute changes to project scope and design. New techniques that integrate high-definition photography, 3-D laser scanning, and geographic information systems, enabled by recent improvements in drone and unmanned-aerial-vehicle (UAV) technology, can dramatically improve accuracy and speed. Photogrammetry, for example, provides high-quality, high-definition images of survey areas but takes time to be converted into a usable format. Light-detection-and-ranging (lidar) technology is much faster than conventional technologies and provides high-quality 3-D images that can be integrated with project-planning tools, such as building information modeling (BIM), as Exhibit 5 shows.
- https://www.truecadd.com/news/benefits-of-4d-5d-bim-to-general-contractors-across-construction-projects The construction industry, however, has yet to adopt an integrated platform that spans project planning, design, construction, operations, and maintenance. Instead, the industry still relies on bespoke software tools. In addition, project owners and contractors often use different platforms that do not sync with one another. As a result, there is no single source that provides an integrated, real-time view of project design, cost, and schedule. Next-generation 5-D BIM is a five-dimensional representation of the physical and functional characteristics of any project. It considers a project’s cost and schedule in addition to the standard spatial design parameters in 3-D. It also includes such details such as geometry, specifications, aesthetics, thermal, and acoustic properties. A 5-D BIM platform allows owners and contractors to identify, analyze, and record the impact of changes on project costs and scheduling (Exhibit 6). The visual and intuitive nature of 5-D BIM gives contractors a better chance to identify risks earlier and thus to make better decisions. For example, project planners can visualize and estimate the impact of a proposed change in design on project costs and schedule.
- https://www.mckinsey.com/industries/capital-projects-and-infrastructure/our-insights/imagining-constructions-digital-future