IRVINE, CA—“Applying the science of big data to the pursuit of an improved life for ourselves and our neighbors” is how RealtyTrac's new CEO Rob Barber describes the way his firm uses this information. We sat down with the recently appointed executive to have an exclusive discussion about his goals and what “big data” really means for the real estate industry.

GlobeSt.com: What are your goals in your new role at RealtyTrac?

Barber: My goals for RealtyTrac are quite simple. The company is moving forward right now with lots of momentum and strong growth, so goal number-one is to protect and accelerate all of the good things already happening within the business. The acceleration part will be driven by listening to our customers, understanding their needs and innovating new products that address their needs. RealtyTrac is unique in that we have a broad spectrum of customers across our consumer and data-solutions divisions, so I doubt there will be any shortage of ideas. The trick will be prioritizing our possibilities correctly and getting new innovations into the hands of our customers quickly.

GlobeSt.com: In layman's terms, what is big data and how does it impact the real estate industry?

Barber: “Big data” is the idea that hidden inside large data sets is a story and, if that story can be discovered, people will be armed with lessons and insights that promote better decisions. This can be a particularly profound idea in the real estate industry, which is fundamentally about people, families and quality of life. As our industry continues to mine data, mash data sets together in an effort to discover new correlations and experiment with models and analytics, what we are fundamentally doing is applying the science of big data to the pursuit an improved life for ourselves and our neighbors. Other than in health sciences or education, I can't think of a segment of society where this is more important.

GlobeSt.com: To what do you attribute the growth of your big-data deals and the growth of Homefacts?

Barber: These are two entirely distinct segments of our business with totally different drivers. Our big-data deal growth is the result of our business customers wanting choice, flexibility, reasonable terms and fast execution. RealtyTrac delivers on all of these attributes better than our competitors, and the market is voting with its checkbook. Homefacts, on the other hand, is growing because consumers have an insatiable appetite for honest and complete information about the home they want to buy. There is no shortage of information about homes, but most of it is being “spun” in order to sell homes and close deals.  RealtyTrac is unique in that we provide “real” information, even if it's unflattering to the home or neighborhood.

GlobeSt.com: What else should our readers know about the changes at RealtyTrac?

Barber: The main thing to know about the recent changes at RealtyTrac is that they're all about growth. RealtyTrac is a company that is operating from a position of strength and is firing on all cylinders. We have a strong consumer legacy and brand that is successfully expanding its reach beyond foreclosures, and we have a young B2B data solutions business that is attracting the industry's top talent and signing on new customers rapidly. These are the things that excite me about RealtyTrac and why I think we're going to have a great run for a long time.

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