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Big data is here to stay

Analytics can help predict which website visitors will close

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

SAN FRANCISCO -- Real-time data of human behavior is an increasingly valuable resource real estate professionals should take advantage of, according to panelists at the Real Estate Connect conference in San Francisco. The ability to track consumer habits both online and offline keeps advancing with technology -- a boon to marketers who want to find and engage with a target audience. "You've got to embrace it because it's not going anywhere," said Jed Katz, managing director of Javelin Venture Partners. "The concept of putting the right ad on the right device for the right person in a way that's not creepy" is more and more important, Katz said. Michael Chui, a principal at McKinsey Global Institute, noted that since the advent of the multiple listing service, data has continued to increase at an exponential rate. "We're seeing a diversity of sources of data: social media, all kinds of sensors out there. (And of an) increasingly real-time nature," Chui said. Data is also b...