Our good friend Jonathan Saar from The Training Factor wrote a piece a couple days ago that got me thinking about the next steps in apartment marketing. Certainly not to suggest that we have all mastered the last steps but it is fun to dream sometimes.
This is a pure prediction post. No basis. No foundation. No practical application. No case study.
Just sayin’.
Predictive Analytics
Wikipedia defines the term this way:
Predictive analytics is an area of statistical analysis that deals with extracting information from data and using it to predict future trends and behavior patterns. The core of predictive analytics relies on capturing relationships between explanatory variables and the predicted variables from past occurrences, and exploiting it to predict future outcomes. It is important to note, however, that the accuracy and usability of results will depend greatly on the level of data analysis and the quality of assumptions.
The most common use of predictive analytics comes from the credit card industry. Brass tacks – with a few bits of information, companies can predict your propensity to pay on time.
My Early Predictive Analysis Tells Me…
…It is headed to an apartment marketing conversation near you. By this time next year, we will all be talking or will have been talking about the manifestation of predictive analytics as it relates to harvesting big data. Big data to include mining the likes (no pun intended) of Facebook, Twitter, ratings and review sites, surveys (be them third-party or self-administered), property management software (although predictive analysis suggests no chance on that front!), your screening company and other relevant data bases. And, our mathematical models will take all that data to make predictions for us.
They will create and align the perfect personas with the perfect properties that fit those personas and they will send the perfect messages, with the perfect frequency at the optimal times. All behind the scenes.
Your really likes the idea of predictive analysis as it relates to marketing apartments multifamily maniac,
M
PicProps: vjeran2001
Here it comes: Predictive Analytics to Impact Multifamily Operations
0 Responses
Nice post my friend and thanks for the mention. The social data we receive will definitely help take the “I think” approach to decision making out of the equation. The data will help facilitate a much more solid direction as we analyze what is working and what isn’t. To me what will be interesting is the value of the stats. Say for instance Facebook is a top social reference to our website but Instagram converts more leases but is a lower referral. It will be interesting to look at conversion data from a different perspective in the days to come. I love the possibilities!