Blog August 12, 2019

3 reasons why you need a real estate specific analytics tool

By Andy Welkley

When it comes to business intelligence tools for real estate, you can’t afford to bend over backwards dealing with a solution that doesn’t work for your specific needs, but you also can’t spend too much time or money dealing with a real estate analytics tool that’s over-customized and ineffective. You need something in the middle.

Business intelligence projects often run into two major issues, both of which stem from the natural limitations of different types of BI tools.

  • If you use an off-the-shelf BI tool, you may need to customize it for your specific purposes, often by spending an excessive amount of time and money to craft the queries and reports. Ultimately, your needs are not fully met or they need significant support.
  • If you use a highly customized solution, the value of the tool won’t be realized unless requirements are fully developed and executed properly. You’ll spend too much time and money getting it to work for your specific objectives, and it could take months before you reap any value from the new system.

You don’t need to settle for a do-it-yourself solution or a “one size fits all” solution.

You need a centralized and flexible business intelligence and data visualization platform designed for real estate that enables you to effectively explore and understand your data. Implementing this type of solution can help you make better, more knowledgeable decisions and inform key stakeholders in actionable and impactful ways.

Here’s why.

Reason 1: You need easy integration with your current system

The perfect solution for your organization should include a plug-and-play portal that’s integrated with your MRI products and data. Luckily, MRI Analytix, a BI tool that’s already been built by MRI to fit the needs of real estate organizations, has been designed specifically for use with MRI tools, meaning you can be confident that the data and the output is aligned with the information you and your organization require.

Reason 2: You need a centralized data store

Real estate firms have different key metrics than other industries, and MRI Analytix meets this need by being a curated, centralized, fit-for-purpose data store that enables analysis of relevant real estate metrics. With the ability to extract the data, apply filters to narrow or expand results and populate visual representation of the data, MRI Analytix even eliminates the need for IT or technical support. Additionally, you shouldn’t have to add those real estate specific features yourself, which is why any customizations you need will be simple add-ons; not whole updates that might break in the implementation process.

Reason 3: You need to plan for the future

Your BI tool should be a flexible system with the ability to adapt and access the latest advancements to stay competitive. Through visual representation of large and complex data sets, MRI Analytix gives analysts and decision makers easy access to spot trends and identify areas for deeper discovery. MRI Analytix is built off of Tableau, one of the leading innovators in data science to leverage continuously evolving data science capabilities to move your organization into the future. We analyze each update and innovation from Tableau and apply the most relevant ones to MRI Analytix. By using the latest in BI tech tools, you also signal to incoming and prospective talent that your organization is at the forefront of data science and business intelligence.

You shouldn’t have to settle for a clunky, customizable tool or an off-the-shelf solution that doesn’t work for you. MRI Analytix allows to utilize your data without getting in the way of your operations. Learn more about how you can leverage MRI Analytix for the success of your real estate organization.

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