Big Data – is it designed for Housing or Hollywood?!
Published by Vicki Codd for Mobysoft in Housing and also in Local Government, Universal Credit
The Big Data revolution seems to be sweeping almost invisibly through business, academia, government, housing and everyday life. Everywhere I turn at the moment I’m being invited to a “Big Data” event or being asked to comment on the benefits of “Big Data” for the Housing market. So for my first blog I thought I would wade right in and tackle the hot topic of the day.
Beyond all the hyperbole what exactly is Big Data and how do I see it affecting the housing market?
Big Data is defined as the collection, analyses, and visualisation of vast amounts of information, facilitated by modern computer horsepower and clever algorithms.
In the hands of Data Scientists this raw information is fuelling a revolution which many people believe may have as big an impact on humanity going forward as the Internet has over the past two decades. The number of potential uses for this new science never fails to amaze me. For example in one of Los Angeles’s toughest neighbourhoods, a remarkable experiment is underway using data analysis; the police are trying to predict crime, before it even happens. A forecast – controlled by a computer algorithm – of where crime is most likely to happen is given to police officers on the beat before it happens.
Whilst that example may sound like something reminiscent of a Hollywood movie could UK housing take the concept and use it to help us understand tenants better and predict their behaviour?
At Mobysoft we certainly think the data intelligence we gather could be a vital tool to improve efficiency and effectiveness for housing organisations. Our Rentsense technology is helping Housing organisations across the UK to use data to their advantage. We can help organisations identify tenants who are likely to get in to serious arrears and respond quickly with the support they need.
As a Cloud based infrastructure, our solution is highly scalable with the ability to interrogate massive datasets to deliver high value business intelligence at lightening speeds.
Big data could deliver a powerful new way of working for the housing sector and will equip housing providers with information that will help them to target activity where it can have the most benefit.
So, do it think big data is the next big thing? Well, yes I guess I do. When the next event invitation drops through the door, I might just go along and join the excited throng!