12 Feb How is big data changing the way we live?
Technology is changing every inch of our lives, the way we work, communicate and live has been molded through tech advancements and there is no sign of this trend slowing down. Processes are more streamlined than ever before and there is undoubtedly an expectation for every experience (public and private) to be quick and automated. More recently, we have seen some of the major tech giants taking a greater interest in development and identifying ways to embed themselves into the end user’s home life.
The likes of Google are building part of a city, Facebook is able to track where people are located in a house and Amazon are installing Alexa’s in order to get under the hood of every customer’s demand. But when does it all start to feel like too much? Tech giants all over the world are capitalising on how you can find an ‘in’ to people’s homes, whilst the purpose is convenience, there can become a point where technology starts to feel invasive. Furthermore, with the biggest players in the development market linking up with leaders in tech, where does it leave the SME developer, is this evolution a threat or an opportunity?
If we take the principle of using data in a forward-thinking way and apply it to what we do then technology really presents itself as a huge opportunity. For those that shy away from data, things could start to become problematic as products will quickly feel outdated. Whilst residential developers are not quite feeling the pressure to conform just yet, certainly in the commercial space, it is proving to be increasingly popular in order to understand how to optimise the building on either a tenant level or a build level.
From a residential perspective, it is likely that the build-to-rent sector will be quickest in adopting these advancements since the developer has a greater interest in understanding how the space is being used. Certainly, if you look at student housing schemes which have a turnover year-on-year, it is beneficial to monitor the behaviors of residents. This information, in turn, could identify patterns and drive the type of developments we see in years to come. Regardless of what the next step is, the learning that we take away now will eventually feed into the build-to-sell space.
It is difficult to predict how long it will take for tech to be fully immersed in development but being willing and open to adopt the change will certainly be the key to success when the time is right. Watch the full discussion on big data by clicking above.