Unlocking the Power of Location Data in Real Estate
The Challenge
Approximately 80% of data has a location attribute associated with it – and that location data provides a connection with the physical world. For Generali Real Estate, the addition of alternative forms of data, such as spatial data, created greater context for its data and helped to power highly accurate AI-driven insights for data-driven decision-making.
The Journey
Generali Real Estate is one of the world’s leading real estate asset managers. Headquartered in Italy and with operations across Europe, the company has €36.9 billion assets under management (Q2 2024). When Generali Real Estate became one of the first real estate asset managers to establish a dedicated division for AI and machine learning (ML) innovation, its first task was to disrupt the traditional decision-making processes that usually inform investment strategies.
The Solution
To address these challenges, Generali Real Estate developed City Forward®, an innovative cloud-based location intelligence platform that helps real estate professionals and others make smarter decisions powered by highly accurate AI-driven insights. The City Forward platform leverages the Precisely portfolio of market-leading geo addressing solutions, alongside data from other third-party providers, to deliver comprehensive information on business locations, leisure hot spots, and other geographic features – revealing hyper-local insights on real estate assets and more.
The Benefits
The City Forward platform uses more than 800 variables and more than 30 ML models, bringing unprecedented granularity to forecasts. Beyond real estate, City Forward is scalable across industries and geographies where it’s used in more than a dozen use cases to shed light on sociodemographic information, consumer habits, web data, ESG (environmental, social, and governance) reporting, and more.
Conclusion
The use of alternative forms of data, such as spatial data, has the potential to revolutionize the way we make decisions in the real estate industry. By leveraging the power of location intelligence, Generali Real Estate has been able to drive highly accurate AI-driven insights and make data-driven decisions. As the company continues to explore new use cases and applications, it’s clear that the future of real estate is bright with the power of location data.
Frequently Asked Questions
Q: What is City Forward?
A: City Forward is a cloud-based location intelligence platform developed by Generali Real Estate to help real estate professionals and others make smarter decisions powered by highly accurate AI-driven insights.
Q: What is the primary benefit of using City Forward?
A: The primary benefit of using City Forward is the ability to reveal hyper-local insights on real estate assets and more, using more than 800 variables and more than 30 ML models.
Q: Who is Precisely?
A: Precisely is a global leader in location intelligence and data enrichment, providing comprehensive information on business locations, leisure hot spots, and other geographic features.
Q: How does City Forward use Precisely’s data?
A: City Forward uses Precisely’s portfolio of market-leading geo addressing solutions, alongside data from other third-party providers, to deliver comprehensive information on business locations, leisure hot spots, and other geographic features.
