Strategic Data Utilization for Success in Real Estate Development
Updated: Feb 27
Client serviced is a leading global property investment, management and development conglomerate with a primary listing on London Stock Exchange. Well established since the turn of last century, the Group’s
Hong Kong operation owns and manages a massive number of prime offices and luxury retail properties in key Asian cities, principally Hong Kong, Singapore, Beijing and Jakarta, which attract the world’s foremost companies and luxury brands.
The client's real estate development conglomerate operates a mall membership program wherein members can earn benefits by scanning their receipts through a mobile app. This app utilizes Optical Character Recognition (OCR) technology to extract relevant information from the scanned receipts, such as transaction details, purchase amounts, and participating merchants.
We provides analytics services to support the client's real estate development efforts. The specific services offered include data ingestion, data cleansing, and business analytics. Here's a breakdown of how AutoInsight's services are utilized:
Data Ingestion
We extracts sold item data from OCR receipts of all tenant merchants, with a focus on luxury retailers. This data extraction process ensures that relevant transactional information is captured accurately and efficiently.
Data Cleansing and Classification
We performs data cleansing and classification of the purchased items. This step involves organizing and categorizing the data to ensure its accuracy and consistency. By effectively cleaning and categorizing the data, actionable insights can be derived from it.
Member Segmentation
We conducts member segmentation to facilitate behavior analyses. This segmentation process focuses on different groups of members, including lapsed members, service users, brand loyalists, and those exhibiting inter-brand synergy. By analyzing the behavior of these segmented groups, valuable insights can be obtained to drive in-mall sales and service efforts that cater to the specific needs of customers.
The use case highlights how our data-driven approach supports real estate development by leveraging analytics to optimize decision-making and enhance operational efficiency. Through data ingestion, cleansing, and classification, as well as member segmentation, the client can gain valuable insights into customer behavior and preferences. These insights can then be utilized to drive sales, improve customer satisfaction, and maximize the potential of their real estate properties.
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