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big data analytics (6)

Change is inevitable. People repeatedly ask me, “What is going to change in real estate business in upcoming years?” I believe that the widespread escalation of artificial intelligence, big data, and predictive analysis provides more vivid information about a location’s future challenges and opportunities. Currently, there is a staggering amount of user-generated content for land records in the form of paper files, scanned PDFs, and more. According to Forbes, Big Data adoption in enterprises reached 59% in 2018 with a CAGR of 36%.

Though the telecommunication, health care, and investment industries were among the firsts to invest in alternative data, the real estate market is now becoming more transparent using big data. It helps the buyers to get the practical knowledge about the location like past market trends, nearby places, future possible changes in the area, and more, which reduces the investment risks.

What changed in real estate with big data?
Whether it is about designing an office or home that suits the requirements of the tenant, analyzing the damage to a property after a storm, or providing history and future growth of a particular location to the prospective buyer, big data is thoroughly transforming these essential tasks of real estate industry.
Big data has opened both the quantity and quality of the available data in the property business.

National Association of REALTORS® Research Group published a real estate report of 2018, in which they noted below statistics:
• 22% of buyers read newspaper ads to search a home in 1981, while in 2018, 44% of total buyers did an online search first.
• A typical buyer used the website or mobile app to look at property photos, nearby locations, and related information while searching for the properties.
• 76% of all buyers found home on their mobile devices.

Revolution in the real estate field using big data
The concept of using data brought the revolution in terms of providing real-time traffic status, proximity trackers, places for late night activities like parks, and a plethora of user reviews that abolishes the room for any confusion about the property. Big data works on facts and figures that empowers both buyer and seller for more secure deals.

Final evaluation: Big data analytics helps to remove human error while analyzing the property value by applying the latest demographic, economic, and geographical insights. The use of big data with machine learning creates an automated evaluation model as an alternative to traditional real estate appraisals to let the buyer and seller aware of their decisions.

Finer property trading: A data-driven approach helps to make better decisions for buying and selling lands & buildings. Builders can create a healthier plan for residential or industrial units. Big Data incorporation provides relief to the inexperienced sellers and buyers who are at the initial stages of property dealing.
Finance transformation: The potential investors can make better financial decisions with the help of fetched data from public and private sources. The buyer can quickly analyze the physical structure condition, the last renovation details, the reliability of the owner, and the price-worth set for the property. Moreover, the digitization reduces the paperwork, which lowers the cost and helps in saving the environment.

Can big data become the future of the real estate industry?
Along with refining the business and trade decisions, big data analytics and its related technology help to improve the daily lifestyle of the buyers by providing the right information for the properties they are interested in. However, collecting enormous data and building accurate advanced analytics algorithms is a time consuming and arduous task. Even a top-rated real estate website development company faces the challenge to capture the data value from various industry segments to create advanced analytics that establishes straightforward processes for data governance, interpretation and then helps make effective data-driven decisions.

However, the future of the real estate industry with big data is pretty promising for both sellers and buyers. It will undoubtedly lower the obstructions that come along in the way of searching and selling a property and make the finding of the right place for living or working much faster.

Expanding the geographical information system through location intelligence, using IOT (Internet of Things) to connect and exchange data, and mapping air quality through integrated air quality sensor devices are the next big things in real estate business. The integration of big data is not meant to replace human behavior truly; instead, it helps to make better decisions using realistic data points with subjective inputs from the human.

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Internet of (Medical) things in Healthcare

Over the past few decades, we’ve gotten used to the Internet and cannot imagine our lives without it. Millennials and new age kids don’t even know what is life without being online.
With the disruption of  Digital Transformation, Internet of Things have added lots of opportunities to business and consumers like us, equally.
 
IOT means connecting things, extracting data, storing, processing and analyzing in  big data platforms and making decisions based on  analytics. It helps in  predicting certain outcomes thereby helping with taking preventive actions.
The popularity of  wearables, such as fitness trackers, blood glucose monitors and other connected medical devices, has taken healthcare by storm.  Connected devices have become a prevalent phenomenon in the consumer space and have made their way into healthcare.
 
Healthcare is fast adopting IoT & changing rapidly, as it reduces costs, boosts productivity, and improves quality. IoT can also boost patient engagement and satisfaction by allowing patients to spend more time interacting with their doctors.
 
There are a number of opportunities for the internet of things to make a difference in patients' lives. IoT-enabled devices capture and monitor relevant patient data and allow providers to gain insights without having to bring patients in for visits. Adding sensors to medicines or delivery mechanisms allows doctors to keep accurate track of whether patients are sticking to their treatment plan and avoid  patient's readmission.
 
Patients are using these connected medical products to capture ECG readings, record medication levels, sense fall detection and act as telehealth units.
 
Diabetes self-management includes all sorts of gadgets and devices, which control glucose levels and remind patients to take their insulin dose. The newest wearables are even capable of delivering insulin on their own, according to health condition indicators. 
 
Remote patient monitoring is one of the most significant cost-reduction features of IoT in healthcare. Hospitals don’t have to worry about bed availability, and doctors or nurses can keep an eye on their patients remotely. At the same time, patients usually feel more relaxed at home and recover faster.
 
Smart beds are a convenient solution for patients who have trouble adjusting bed positions on their own. This kind of IoT tool can sense when the patient is trying to move on their own and it reacts by correcting the bed angle or adjusting pressure to make the person more comfortable. Additionally, this frees up nurses, who don’t have to be available all the time and can dedicate extra time to other duties. Many hospitals have already introduced smart beds in their rooms.
 
At Boston Medical Center, IoT is everyday life:
  • Newborn babies are given wristbands, allowing a wireless network to locate them at any time.
  • They have installed wireless sensors in refrigerators, freezers and laboratories to ensure that blood samples, medications and other materials are kept at the proper temperatures.
  • Hospital has more than 600 infusion pumps which are IoT enabled. BMC staff members can now dispense and change medications automatically through the wireless network, rather than having to physically touch each pump to load it up or make changes.
At Florida Hospital, when patients go in for surgery, they're tagged with real-time location system (RTLS) badges that track their progress through from the pre-op room to the surgical suite to the recovery unit so relatives can track the patients from outside.
 
Philips GoSafe can be worn as a pendant and it helps to detect and alert falls in elderly people.
 
There are few challenges as well in implementing IoT:
  • Data security & lack of standard security policy
  • Hospital’s internal system integration with IoT data
  • Further changes and improvements in IoT hardware
The Internet of these Medical Things is a game-changer as future will be connected, integrated & secure healthcare industry.
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We are living in a century where technology dominates lifestyle;Digital Transformation with Big Data, IoT, Artificial Intelligence(AI) are such examples.
Over the past six months, Chatbots have dominated much of the tech conversation, the next big gold rush in the field of online marketing.
Chatbots are built to mimic human interaction, making them seem like an actual individual existing digitally. It could live in any major chat product (Facebook Messenger, Slack, Telegram, Text Messages, etc.), powered by basic rules engine or NLP and AI.
Chatbots have helped in conversation commerce in real time such as booking a cab or ordering a bouquet of flowers or pizza. Consumers will benefit from chatbots through personalization, and this is where social media plays a big part.

Here are a couple of other examples:
·       Weather bot: Get the weather whenever you ask like Poncho
·       Grocery bot:  Help me pick out and order groceries for the week like Yana, MagicX
·       News bot:  Ask it to tell you whenever something interesting happens like TechCrunch, CNN
·       Personal finance bot: It helps me manage my money better like Abe
A chatbot for an airline will function fundamentally differently from a banking bot.
People are now spending more time in messaging apps than in  social media and that is a huge turning point. Messaging apps are the platforms of the future and bots as over 90% of our time on mobile is spent on messaging platforms like Facebook messenger, Whatsapp, Wechat, Viber etc.
Typically business need to answer following questions to create a bot:
·       Do you need a constant communication back and forth with the consumer?
·       What are customers’ expectations for the interaction?
·       How will the bot act?
·       What happens when the bot fails?
Chat bots have to be great at answering questions, this is usually how they are challenged, and IBM’s Watson is probably the best question and answer system.
There are several advantage of Chatbots:
·       24×7 availability – A bot exists digitally unlike a human being, and can thus be pressed into service continuously without any interference
·       Faster response time than humans, coupled with an AI, chatbot’s machine learning and multi-tasking abilities make it a highly efficient virtual assistant
·       Bots allow for a two-way, personalized interaction between the consumer and a brand
·       Saves Resources – Employing a chatbot to handle basic customer interactions can free up valuable human resources without a decline in productivity
Tacobot Allows to order Taco Bell even more quickly.

KLM has a customer service bot that's able to check your flight status and let you know if it's been delayed.

Interacting with software at a human level is becoming more mainstream from digital assistants  like Google Home, Google Now, Apple Siri. 

Going forward people will not be able to tell the difference between human and machine.
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Do you still remember our childhood story of Ali Baba and 40 thieves?
“Open Sesame” was the magical phrase that a poor woodcutter Ali Baba uttered, to open the door of a secret cave in which 40 thieves had hidden bags of gold and treasure. The power of his voice, and using the right words, gave him access to that fortune, and changed his life forever.
We are in the same cusp of open sesame to  Digital Transformation and changing our lives. It’s a fact that our lives are becoming more digital. We buy, we work, we store information, and we even communicate with other people through media and digital platforms.
A laptop was not an item in my life until the age of 35, whereas for my daughters, they have always had a laptop in the house, and learned how to use it, earlier than me.
Whether we like it or not, digital transformation is creating a new era… changing how we do things, how we live … and we are already fully immersed into it. We have a great opportunity to be more effective, efficient, fast and agile.
We, as consumers expect ultra-connected  experiences. Whether it’s in-store, on the web, using a mobile device or through wearables, we want every interaction to be simple, effortless, relevant and lightning fast.
The  Internet of Things have already started changing our lives!! The  connected car  we use may know the temperature we like at home so adjust accordingly. The mobile app is connected with all  Smart Home devices to alert us of anything suspicious happening while we are away. It can notify when we approach grocery store, of the items we need at home. With  Drones, we can get a tour of properties listed so we can choose the right one.
To reach 50 million users, radio took 38 years, Google took 6 years, and Google+ needed just 88 days while Smartphone “Pokémon Go” game reached that count in just 19 days!!
Our lives have become a collection of mobile moments in which we pull out a mobile device as if it was a magic wand to get something done wherever and whenever we want. We use  smartphones for more than just making phone calls. From online banking to posting family photos to  social media, sending e-mails and text messages, searching for restaurants and booking movies.
We are alerted of our days’ appointments and meetings before even we had our breakfast. A weather app alerts us of the rain forecast. To make our commute pleasant, the built-in GPS in our car alerts us of upcoming traffic along the planned route and suggests an alternative route so we can get to work on time and keep our meetings.
All of us have become so health conscious with  wearables like Apple watch & activity trackers like Fit bit and Jawbone and Google smart contact lenses etc. With wearables like Oculus Rift VR, we can enter into an exciting new realm of  augmented reality, with an enhanced experience of what we see, hear and touch.
Big Data Analytics is an ideal entry point to get into digital transformation.  It is like turning the lights on in a dark room. Every interaction we have with businesses, point-of-sale transaction details, loyalty card information, surveys, and social media postings to Facebook, Twitter, Pinterest, and more.. which provides deep insight into our behavior, attitudes, and opinions that businesses are leveraging to improve relationships with  hyper-personalization.
Voila! Life is simplified …..

Was this all available to us 20 years before? Ali Baba’s “Open Sesame” was a story of childhood, but Digital Transformation is reality – and from now on nothing will be same again.

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Gone are the days, when companies used to decide strategy and then execute it for next five years as planned. 
Today company’s life on Fortune 500 or S&P 500 is just 15 years. Digital businesses like Uber, Airbnb did not exist before 2008 but now they are multi-billion dollar poster children for digital disruption.
Today due to digital, every business has to change how to operate, interact with their customers every day. Long term strategies are no longer valid or sustainable and change is constant feature.
Culture is a key determinant of this successful  digital transformation. We can change our technologies, our infrastructure, and our processes. But without addressing the human element, lasting change will not happen. Culture is the operating system of the organization. It is like air, it is there but you can’t see it.
It's important for leaders to understand the business's current culture to map the right solution and timeline that will work for that business. No two organizational cultures are the same. Executives underestimate the importance of culture in an era of digital.  Most cultures are risk averse at a time, when taking risks is the most direct path to innovation.
But we have to remember that without the involvement, cooperation and feedback of the workforce, any digital transformation will struggle to maintain momentum.
Building an organizational culture for a successful adoption of digital technologies like  IoTBig Data AnalyticsMobility requires everyone in the organization, from leaders to front-line employees, to be prepared to work in an open and transparent way. It’s hard for an organization to undergo digital transformation if the culture is one built around silos. In cases like these, cultural change would need to be addressed before the transformation process could begin
Culture leads the adoption of technology. The ability to innovate depends on the impatience of the organizational culture. Organizations have to build the culture and community, making the time for people to share experiences, test and learn what works, brainstorm and collaborate.
It takes time to develop a digital culture; the sooner a company acts, the more quickly it will be in a position to compete in this fast-paced, digitized,  multichannel world.
Southwest Airlines, in operation for more than 40 years, brought in culture change and empowered employees to go Digital and help customers.
Imagine how GE, which is more than 130 years old and operating in more than 175 countries now, has a quest for cultural change to be leader in Digital and  Industrial Internet of Things.
Coca Cola has reinvented itself with culture change by focusing on digital natives while offering more than 100 flavored drinks.

For Digital Transformation Culture is top most enabler. Without people, tools won’t make any difference!!
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What is Edge Computing?

The name edge computing signifies the corner or edge in a network diagram at which traffic enters or exits the network.
Edge computing pushes computing power to the edges of a network, so instead of devices like drones or smart traffic lights needing to call home for instructions or data analysis, they can perform analytics themselves on streaming data and communicate with other devices to accomplish tasks.
In edge computing, the  big data analytics happens very close to the  IoTdevices and sensors. Edge computing thus can also speed up the analysis process, allowing decision makers to take action on insights faster than before. 
For organizations, this offers significant benefits. They have less data sent over their networks, which can improve performance and save on  cloud computing costs. It allows organizations to discard IoT data that is only valuable for a limited amount of time, reducing storage and infrastructure costs. Further edge computing improves time to action and reduces response time down to milliseconds, while also conserving network resources.
In  Industrial Internet of Things, applications such as power production, smart traffic lights, or manufacturing, the edge devices capture streaming data that can be used to prevent a part from failing, reroute traffic, optimize production, and prevent product defects.
Coca Cola free style dispensers are using edge computing to quickly understand the consumer behavior and help to be more responsive to needs.
GE locomotives take advantage of edge computing by gathering and processing real-time data about railway conditions, train maintenance, and even crew morale to help railroad companies move trains through crowded railway corridors in as safe and efficient a manner as possible.

With  Digital Transformation and emerging technologies that will enable “smart” everything – cities, agriculture, cars, health, etc – in the future require the massive deployment of Internet of Things (IoT) sensors while edge computing will drive the implementations. 
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