How Cloud-Based Software Is Transforming the Commercial Real Estate Industry
May 7, 2018 | Richard Sarkis | Business.com
Commercial real estate is an industry driven by huge volumes of data, making it uniquely positioned to benefit from broad-based cloud adoption.
According to the McKinsey Global Institute, the world creates roughly 2.2 exabytes — that’s 2.2 billion gigabytes — of data every day. While this proliferation of data is spread across millions if not billions of individual devices, simply storing this much information is becoming increasingly difficult, to say nothing of organizing it.
This challenge is particularly pronounced in industries like commercial real estate (CRE), where data is the driving force behind every transaction. As industry sage and blogger Duke Long points out, “It’s one thing to acquire terabytes of data, [but] it’s quite another to cleanse and mobilize that data in service of real-time insights into the commercial real estate market.”
