Big Data and Real Estate: A Review of Literature

Abstract

The concept of big data though relatively new has brought a lot of solutions to modern day challenges. Many authors, particularly in developed countries, have adopted the concept in tackling the numerous challenges unfolding in the real estate profession. However, most of the findings from these authors are on individual bases and as such, there is a need to reach a general consensus on the relevance of big data to the real estate profession. The review shows the impact of big data to include digitization of records, information on user preferences, sensor information on the urban environment and sensor information on movement. The paper concludes that the relevance of big data to the real estate profession cannot be over-emphasised.