Why Data Formatting is Almost as Important as the Data Itself
Real estate data is only valuable to the extent that it’s used. Data presented in an intimidating and uninviting format is likely to be glossed over or thrown out entirely. The presentation of your data, therefore, can be just as important as the data itself. Formatted real estate data has become an essential tool for the modern real estate investor.
No industry more clearly demonstrates the importance and value of the classic hierarchy of understanding — data, information, knowledge, and insights — than commercial real estate. Data needs to be parsed in an intelligent and structured manner, and it needs to be presented in an intuitive format.
Expecting people to pass around unformatted Excel spreadsheets and glean actionable insights from them — much less actually read them — is often unrealistic. The same goes for if you expect people to navigate 8-point font across a 20-page PDF.
To derive valuable insights from your data, it has to be easy to review and consume. PropTech companies have increasingly been grappling with this problem, since the industry has so long relied on spreadsheets and unstructured deal data. The industry is eager to adopt platforms designed for ease-of-use after putting up with Excel and Outlook for decades.
Modern, cloud-based platforms have prioritized their UI. They focus on intelligently structuring data in an intuitive interface, making for the easy consumption and manipulation of data.
Exporting that data is equally important. Deal teams need to generate clean and compelling PDF reports and structured Excel spreadsheets. Rather than building reports from the ground-up, however, PropTech solutions can now automatically format and export them. This is especially valuable when presenting reports to shareholders and investors.
Dealpath has allocated a great deal of resources toward building the most user-friendly platform for the real estate industry. It’s as simple as it is powerful, and our users consistently point to the platform’s usability and formatted real estate data as major draws for them. To explore the Dealpath interface, we can set you up with a custom demo from one of our in-house experts.