How have you seen 'big data' change the Multifamily Industry?

We are currently seeing how 'big data' is changing the process of new construction within the multifamily industry, but how is it changing our overall operations? Do you feel that many people don't really understand what 'big data' is or how to use it within the multifamily industry?

Here is a great article about how 'big data' is being used today to change our world: "The Awesome Ways Big Data Is Used Today To Change Our World"

Link: www.linkedin.com/today/post/article/2013...-to-change-our-world

Hello Justin, I have read the article and I can only give my personal opinion based upon what I have observed in my moving around. "Big data" I believe is embraced at the company exec level for many of the top 50 multifamily management/owner companies. I see them using "big data" looking at the demographics in their areas, their actual vs budget expenditures, their marketing vs operations, the consumer profiles in given areas. I believe that they are using the areas where they deside to build, or to take over based upon the local economies of those areas and is it wise to build in those areas and if what is going to be the most appealing. I think that as time goes along that "big data" will have a more pronounced presence in the multifamily industry, but I think at this present time we are behind because there are so many factors that go into play. Just my humble opinion and I can be way out there in left field too. I know in going into some management companies I have myself used portions of "big data" to formulate possible scenarios with the pros and cons to a given move based upon the information I was able to get through this data.