Demystifying Big Data | National Apartment Association

Demystifying Big Data


February 2014 Edition
Big Data Has a Starring Role at Greystar

Apartment communities nationwide are using "Big Data" to better gauge their business performance. This entails using performance analytics and benchmarking systems to measure results against established goals, industry standards, and the market and then using those results to drive strategy and planning. One of the big proponents of using technology in this regard is Tom Bumpass, Managing Director and Chief Information Officer at Greystar Real Estate Partners.


Show Me the Money . . . Just Not in the Leasing Office

More apartment owners and managers are offering residents the option to pay their rent via the Internet or smartphone. Training staff on how to implement and manage online payments is key, though, as is providing resources in the leasing office for residents to pay using a community laptop or kiosk. Boosting online payments can reduce theft in the leasing office, provide residents with a fast and easy way to pay rent, and lead to a healthier bottom line.

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That Jingling Is Bitcoin

Bitcoin is a new digital currency that real estate firms are starting to embrace. Using Bitcoin instead of dollars has certain advantages for businesses. For instance, those that accept payments in Bitcoin do not have to pay pricey transaction fees to credit card providers. In less than three months, the number of businesses accepting Bitcoin has more than tripled from 669 establishments to 2,827 as of Jan. 29, reports Bitcoin Pulse.

What Innovations Will Transform the Home of the Future?

Technologies are under development that will transform apartments and other homes in the coming years. Innovations discussed at the recent GreenBuild event in Philadelphia included a laundry machine that stores clothes after they are washed and dried, exterior cooling units where groceries could be delivered, faucet sensors that identify bacteria in food, and under-cabinet 3D printers. Whirlpool recently introduced household appliances that are controlled with a smartphone app that also monitors energy rates and consumption. Other companies have created remote-controlled shades, security alarms, lighting, and thermostats. The list goes on.

Sun Shines on New Solar Apts

Late last year, Toshiba announced plans to utilize a new business model in Germany under which it will install and operate self-consumption solar power systems for residents of apartment communities. The plan is to sell the power to the residents of these rental units at a lower price than utility companies do. The system will be comprised of batteries and a micro energy management system. Toshiba is on track to launch this system in March.

Designing Spaces

Blog Roll

A glance at some of the interesting and relevant industry blogs from around the Web.

5 Tips To Kill The Competition in Local Search
If your business has a local presence—anywhere—you must take advantage of Google+ Local. Creating and optimizing Google+ Local profiles is a critical marketing practice for local small businesses, multi-location enterprises, national franchises and companies with a single physical location.
Search Engine Land

Leveraging Big Data in Real Estate Marketing
Are you putting big data to work to improve your marketing strategy? The term “big data” is intimidating, but really it’s just the numbers and information marketers have always used to gain insight and make data-driven decisions.
Zillows For Pros Blog, a blog of Zillow

3 Proclamations From Social Media ‘Experts’ That Will Kill Your Implementation Strategy
Social media “experts” abound these days. Many send conflicting messages every time technology changes, delivering “urgent” signals to hop on the next big thing or be left in the dust. If someone refers to themselves as a social media expert, your first red flag should go up.
InMan Next, from Inman News

ASK IT: Four Key Questions
There’s no doubt that 2014 is going to be another big year of exciting enhancements in technology. Improved software, systems and products really came on the scene in 2013, and more improvements are sure to make our working and non-working hours more efficient, secure and fun in the months ahead.
The Balance Sheet, a blog of Yardi

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Shark Tank  
Do You Have What It Takes To Swim With The Sharks?
Find out how you can win $5,000 at the 2014 NAA Education Conference & Exposition! Participate in the Sink or Swim: NAA Innovation Tank, and you could be presenting your great idea for a product or business to co-hosts of the ABC reality TV show Shark Tank Barbara Corcoran and Daymond John.
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Learn about the perks and benefits of working in residential property management and some of the reasons the industry provides career growth, stability and endless opportunities.