Avoid the Trap of Bad Data

“Bad data is everywhere,” Brian Zrimsek, industry principal at MRI Real Estate Software, said on The Future of CRE Tech panel at RealShare Southern California. The panel discussed the place of technology in the market, and speakers focused on the balance between technology and human engagement. In addition to Zrimsek, the panel included Kevin Shtofman, national RE blockchain lead at Deloitte Consulting LLP and Jonathan Klein, head of partnerships at GeoCV, with moderator Brandon Keedy, associate at Voit Real Estate Services.

To explain “bad data,” Zrimsek used the example of guest cards. He said that many times, review cards are returned with false information, and it makes it impossible to engage with the customers. “Leasing is the thing that drives apartment space,” he said. “If someone fills out a guest card, it only works if we follow up with them.”

In addition to bad data, the panelists also discussed the flood of data that you see today as a result of technology. “A lot of the data has been available, but we haven’t known how to use it,” he said. Klein agreed, saying that there are a number of mediums, and users need to test the technology that works for individual needs. His firm uses personal devices, like smart phones, to capture data for employees. He believes that understanding different mediums is important to using technology successfully in an organization. “That is the first step,” he added. “At the end of the day, it comes down to providing a good opportunity. You have to test things out and see what works and what doesn’t.”