“Predictive Analytics is NAR’s approach to the often misunderstood but intriguing area known as ‘Big Data,’” says Lesswing. “Predictive Analytics supports business by identifying, with some certainty, upcoming shifts in priorities. Keeping in front of these changes will allow us to provide the value that Realtors® expect from NAR.”
The new NAR Predictive Analytics group will examine and analyze member and customer trends from a variety of data sets to better inform business planning. That means helping the association determine and develop services and resources that provide value to REALTORS®, and giving REALTORS® insights into ways they can better meet the needs of their clients and customers. Beyond NAR’s data sets, Carpenter will also be responsible for acquiring and licensing data from other sources to achieve these goals.
NAR’s interest in Big Data began with the Master Member Profile System in 2008, which studied a variety of in-house and outsourced data warehouse capabilities.
Lesswing and Carpenter will both be speaking about the latest trends in the area of predictive analytics at the Emerging Business Technology Forum during next month’s REALTORS® Conference & Expo in San Francisco, Saturday, Nov. 9 from 1:30-3:30 p.m., Moscone Center, Room 135.
For more information, visit www.realtor.org.