Portal watch may 2015 final
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Transcript of Portal watch may 2015 final
Big Data in the Property Listings World
Kyle Evans - CoreLogicChief Data & Analytics Officer (Asia)
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential1
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential2
Let’s Talk
1. CoreLogic
2. Big Data
� Challenges
� Impact
� Key Considerations
3. Applications of Listings Data
Questions & Discussion
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential3
Global Data Snapshot
| © 2014 CoreLogic, Inc. ■ Proprietary & Confidential4
Over 2,960 dedicated data & analytic staff30 year history of managing property data assets
Host hundreds of millions of listing records Up to 500 fields in listing data records
Property data & Analytics is what we do!
Big Data
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential5
6
DATA IS THE NEW OIL
“We have for the first time an economy based on a key resource [information] that is not only renewable,
but self generating…
Running out of it is not a problem, but drowning in it is.” JOHN NAISBITT
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential7
� What is it?
� “Exhaust Data”
� 2016 is a tipping point for data generation
� Data being recognised as a source of innovation and competitive advantage
� Globally in 2015 companies are spending $38B on big data initiatives
Big Data
Challenges for Managing Big Data Assets
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential8
VALUE IP SECURITY
SKILLS
PRIORITIES
LEGACIES
CHANGEMANAGEMENT
ALL DATA
PASSION
PARTNERS
SPEED
Impact of Big Data
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential9
MORE DATA�
MORE INSIGHT �
IMPROVED PRODUCTS�
BETTER CUSTOMER SERVICE /
EXPERIENCE
Key Considerations
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential10
GET VALUE OUT OF YOUR
TRANSACTIONS
MEASURE WHAT MATTERS
DRIVE BUSINESS
INTELLIGENCE
ENSURE RELATIVITY
Apply the metrics to the key drivers for
the business
Benchmark internal & external metrics, look for correlation
Exhaust all data Look into the business through
the data
Final Consideration
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential11
GET GRANULAR
Looking at data in micro clusters rather than macro level information
Improve enough 1%ers and there will be a sizeable impact
Applications of Listings Data
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential12
Measure what matters: Customer Performance vs Service Usage
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential13
� Performance highly correlated with CoreLogic services
� Common usage patterns amongst high performers
14
Ensure Relativity: Listing Portal Market Share Vsrest of Portals
• Market share of lisintgs for this state is 69.87%
• There are 311(52%) sub-regions where this portal is below its average market share
• 42,341 missed listings opportunities (agency details)
Value from Transactions: Media Analysis
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential15
16
Drive Business Intelligence: Search Analysis
Month No. Searches No. listings
Dec 46 39
Jan 103 24
Feb 93 29
Mar 95 40
Apr 74 22
May 94 20
Jun 89 13
Jul 116 18
Aug 91 26
Sep 48 21
Date No. Searches
Oct-13 857
Nov-13 734
Dec-13 799
Jan-14 896
Feb-14 800
Mar-14 902
Apr-14 1,002
May-14 1,050
Jun-14 1,063
Jul-14 1,094
Aug-14 1,102
RCA - For Sale
Get Granular: Better Customer Service / Experience
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential17
� Identified Customers at Risk (Red), Optimised (Blue), Up-sell (Green)
� Targeted training, packaging and pricing strategies
� Reduced price increase complaints 90%
� Reduced attrition by 20%
Wrap Up
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential18
� Big Data is an asset that must be harnessed to ensure business success
� Listing portals are collecting a lot of useful data every day which can be applied to improve portal performance
� An internal view is interesting, a market view with actionable insights is critical to success
Kyle Evans - CoreLogicChief Data & Analytics Officer (Asia)T +61 2 8019 8143E [email protected]
| © 2015 CoreLogic, Inc. ■ Proprietary & Confidential19
Kris Matthews - CoreLogicExecutive General Manager – International T +61 7 3114 9871E [email protected]
David Maire - CoreLogicGeneral Manager – Innovation T +61 2 8019 8202E [email protected]