Data Visualization and Big Data to Drive Smart Investing

[Scott Dixon]

Has anyone worked with taking a real estate data set such as building permits, real estate sales, etc. and used a Big Data too like Tableau to visualize the data?  I have started to look at my local market to see what take aways I can gather about Real Estate Investing from 2004-2014.  Since my data set is just the Champaign / Urbana area in Illinois  I can't make many comparisons yet to other similar markets within Illinois or neighboring states but that is something I will be working on in the near future.  I would expect residential and commercial agents might have more experience with this type of data but I do think there is a lot of value for investors.  

Example of my Tableau Dashboard for Champaign Urbana:

2004 - 2014 Real Estate Investment in Champaign Urbana

Possible Uses of the Data

1)  Identifying the Path of Progress

2)  New Build vs. Rehab/Additions over the past 10 years

3)  Cost Info for projects to be used in  marketing and offers to motivated sellers

4)  List of Contractors who work in your area

Scott Dixon

[Sean T.]

Scott, funny enough this is what I do for a living.  Tableau is a competitor of mine but I will keep my comments neutral.  I work in Predictive Analytics and data visualization.  I specialize in the public sector and as such work with many assessors depts who do exactly what you are asking.  Many large REITs and REICs use and have the info you ask about.

My suggestions if you do not want to purchase is to look for federal research data and combine it with census data for a comparative first step.  Contact schools with MBA or Masters programs in RE and ask for data info, most will be glad to share.

Let me know if I can answers any specific questions!  I actively use these tools myself.  I am a member of the Association of Institutional Research as well and may have some good data sets in my group.