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Using Data to Improve Real Estate Performance is Essential, but is it Ethical?
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About speaker
Dan is founder of ‘Alpha Property Insight’ and ‘LIQUID Real Estate Innovation’ which help the property sector to embrace and benefit from new ways of thinking and digital transformation.Before this, Dan spent his career working across the built environment and has held senior roles in some of the world's leading data organisations. Dan led the Land and Property Sector strategy and commercial activity at Ordnance Survey, the world’s leading location data specialist. He led the global marketing function at IPD, part of MSCI which is the leading global data, index and benchmarking company for property investment. Dan was also Director of Data and information products for RICS which included BCIS, the world’s leading cost analysis data product and leading a Data Services team providing bespoke consultancy services.Dan also led the PropTech transformation strategy at RICS. When he left, RICS was recognised as the world’s leading PropTech brand and was voted 'Top Association' at the Global PropTech awards.Dan is on the BPF Technology and Innovation Working Group, the steering committee for MIPIM PropTech, on the RICS data handling professional statement working group and is founder of the not-for-profit ‘Real Estate Data Foundation’, helping the sector benefit from data. Dan also holds the position of Trustee for the Property Sector Charity, LandAid.Dan was the author for the BPF LIQUID report and the LIQUID Future of Valuations paper.
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We live in a fast evolving world and as we settle into new ways of doing things we need to make informed decisions quickly. Alongside this, buildings are playing an ever more important role in our work and home lives and we need to be able to understand this in minute detail. This inevitably leads to us more heavily relying on data, the more data we have, the more we can inform our decisions. We could collect data on every minute detail of how a person uses a building. But should we? Is it ethical? This session will explore some of the ethical challenges that real estate comes to terms with the ever growing need to collect and use data to inform our decision making.
01:02 Exponential growth in data collected
02:45 We ain’t seen nothing yet
04:09 Decision drivers have changed
04:46 Ethics
07:33 What data should we collect?
09:05 Can we trust the data we use?
14:20 How do we use it ethically?
15:30 How do we communicate it ethically?
17:30 What should we do about it?
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Hello, and thank you very much for joining me to talk about the use of data and in particular looking at whether receptacle in real estate what I'd like to do for the next 20 minutes to talk about the growing influence of data generally. And then look at data ethics. And to put it into a real estate context. Is very well-documented that's the growth of data in the world is incredible and exponential and there's an often said phrase which is that over 90% of data in the world
the world has been created in the last two years. I think it's worth trying to visualize what that actually means if we've put a circle representing data It looks something like that This backdrop that we are getting huge amounts of data so that we are able to form our decisions. So why is this? In large part, it is because we are collecting data from everything that we use. What's the weather for CCTV on mobile devices or O2 sensors our buildings to make sure that we can collect things. There's an opportunity in everything to collect data.
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