If You Can Text Your Historical Data, You Should Mine It
You read about the problem we’re solving and Zebel’s solutions. Now it’s time to talk about how our product works. Zebel is a data analytics software that enables multifamily real estate developers to run project feasibility analysis faster, cheaper, and better than the traditional process. We have developed a technology that leverages the developers’ historical data and have tested it in many projects for well-known multifamily development companies, including Irvine Company, Western National Group, Lennar, Brookfield Residential, Caruso, etc. Our customers use our product to put their own historical data to work for them and make their feasibility analysis more efficient.
You may wonder what kind of data are we talking about? After all, everyone in almost every industry talks about data these days. Big data, data science, machine learning, and artificial intelligence are among the buzz words you may hear a lot from tech companies. People often use these terms loosely and don’t explain what specifically they actually refer to, partially because they may not have substantive material behind it and it’s just fashionable these days to throw these words in conversations or writings to appear relevant and updated with the industry trends. Our approach is quite the opposite. We try to avoid using such increasingly ambiguous terms and keep it simple and smart when we talk about our technology and how we use data.
Ok, that was a paragraph long side note but what do you exactly mean by historical data of multifamily projects?
In a nutshell, anything that answers these two questions: What was the project? How much did it cost? To make it easier to think about it, imagine you want to describe a project you built in the past to someone in a text message. You can only list values for different attributes of the project similar to the screenshot above.
I hope it’s clear now what kind of data we are talking about. It may seem simple and easy to access that data but believe it or not most real estate development companies don’t have it handy because they don’t maintain an organized database of the projects they build. Sure they have the information somewhere but if you ask for it, they’ll have to take the time and dig it up from a pile of scattered spreadsheets and PDFs in various folders buried in the company’s servers.
If you work at a multifamily development or general contracting company, you are sitting on a gold mine called, historical project data. Zebel gives you the analytical tools to mine your data. Our data analytics technology enables you to better understand your cost and make more informed decisions for your future projects. Learn more about Zebel’s solutions at www.zebel.io.