Data Science for enhanced margins for real estate sector
Blog written by – Mr. Kaustav Das, Head- Prime Business, Highbar Technocrat.
With huge volumes of data that gets generated in real estate operations, enterprises can now use this data for better and informed decision making. Capture and analysis of all the data and comparing it between projects and across timelines, provides with immense insights to real estate companies.
Highbar Technocrat’s leading tool, Rebar Optimization Solution helps in project cost reduction by identifying ways to reduce wastages. Even a 5% saving in cost of rebar usage can save crores of rupees in a large construction project.
Rebar for optimization and management of reinforcement steel solution gains access to Bar Bending Schedule (BBS) and keeps a check on the available inventory. The tool leveraging its state-of-the-art optimization engine offers the most suitable cutting schedules to minimise wastage of resources, enabling realtors to cut on their operating expenditures significantly. Furthermore, to ensure an optimum utilisation of resources, the solution also keeps track offcut of pieces for future usage.
Enhance timeliness of project execution, avoiding time overruns, often leads to cost overruns. Through years of experience, Highbar Technocrat’s engineers observed and documented opportunities to streamline project management and created a 5-Dimensional Digital Project Management Platform, that combines the power of 3-Dimensional Architectural Modeling and SAP ERP while adding innovation to provide real-time 3-dimensional digital dashboard with time and cost as the two more dimensions added to it.
Many real estate companies across India and internationally too are using our Digital Project Management platform to drive efficiencies in their operations through data-driven decisions.
On the end consumer front, Data Science is already reshaping the real estate sector by refining consumer searches and offering targeted recommendations on real estate portals to prospective buyers and sellers.
Data synthesizing tools could furnish consumers with projects which best comply with their requirements including the number of rooms they need, their preferential localities, affordability, potential rent which the property can offer etc.
Realtors also garner an inclusive understanding of buyer patterns citing the enormous data they have at their disposal.