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“Data is the new oil”, data-driven culture and technology

“Data is the new oil, and that’s a good thing” states Kiran Bhageshpur, the CEO of Igneous on Forbes. Data have a crucial role in our society today, as they are daily used to make the management of the processes more efficient and effective, support strategic decisions, and improve productivity (in case you are interested in these themes you can subscribe to our newsletter, PropTech Perspective).Real estate is facing a period of great changes, characterized by an increase of international transactions, a more precise segmentation of customers, a faster spread of trends, and much more. All this is possible thanks to Data Intelligence and Big-Data Analytic instruments. “Analytics and artificial intelligence are now an investment priority for Italian companies, although, to set up a data-driven company it is necessary to have the right instruments, which should simplify and automate the complex work that is between the production of data and its transformation into valuable information”, as stated byIBM: il successo del Machine Learning passa dalla collaborazione con le Line of Business.

The current business scenarios are continuously changing and therefore they are complex to read. For this reason, statistical analysis and simulations are necessary to predict the behavior of markets and elaborate strategic decisions for companies. A precise and updated information framework allows businesses to foresee alternative and scalable scenarios and therefore to pursue the most advantageous strategies, providing the most appropriate measures and countermeasures in relation to the different contexts, as underlined by the Italian PropTech Network (IPN). This predictive capacity, which should be “data-based” and linked to the potential of new technological-digital tools, can be applied in every field of the professional services chain of Real Estate, from the investment-risk evaluation phase to the optimization of costs and operations. Moreover, the improvement of the predictive ability can make many products and services more resilient, generating a “new Real Estate”, able to make the offer more flexible. The changes in the market caused by the Covid-19 pandemic have brought to life many considerations, as “ the coronavirus has not only created social distancing but has also affected people’s life perspectives. This has changed not only living and working choices but has also impacted the demand and the offer in the Real Estate market. The market is now going towards more flexible solutions, that meet the needs of the users” (Diego Camponigro, 2020).


Sofia Locks access control solutions are developed to allow managers to gather and use data regarding the usage of spaces and real estate units. Smart access control systems record in real-time access information, making them available through integrated platforms of Business Intelligence. The use of real-time data streaming, no-code technologies, artificial intelligence and data-analytics systems allow managers to analyze in detail the frequency of use of spaces, both on a punctual basis, and by observing trends in time. In this way, it is possible to understand how to optimize the use of spaces, like coworkings,and the level of use of a building by a tenant. In this way, it can be recommended an upsell of new spaces or it can be foreseen that the tenant will soon ask to leave the space rented. It is, therefore, necessary to develop information systems that grant both cybersecurity and GDPR compliance. Obtaining the right level of compliance and security is difficult with legacy platforms, for this reason, Sofia Locks cloud-native solutions are based on a secure by design and are thought to be used as a data analysis instrument in the design phase. Along with the compliance, the standard ISO 27001 should be respected not only from the technical point of view but also by the suppliers, to grant the lower risk of data leakage. It is fundamental to have suppliers with a clear business model, to have complete transparency on the usage of the data gathered (your suppliers’ revenues come from the service he offers or from the data he gathers?).Who takes part in this word, both client or supplier, should be ready to use a data-driven approach to digital solutions. He should be able to evaluate risks related to cybersecurity and understand the huge value that comes from data, to design in an anecdotal way the future strategy of the business.