ITECH1100 - Data Mining: Transforming the Real Estate Industry

This report examines the potential impact of data mining on the real estate industry, focusing on aspects such as real estate auctions, new builders, and foreclosure listings. It discusses regulations and ethics related to data security, including legal considerations and the impact on the market. The report analyzes the disruption caused by data mining, emphasizing the importance of data security and comparing process models before and after data mining implementation. The conclusion highlights the vital role of data mining in real estate and anticipates future improvements and wider adoption. The report also includes a transcript reflecting on the importance of data mining in safeguarding data and ensuring ethical practices within the real estate sector. Desklib provides access to this and other solved assignments for students.

Running head: POTENTIAL IMPACT OF DATA MINING ON REAL ESTATE INDUSTRY
POTENTIAL IMPACT OF DATA MINING ON REAL ESTATE INDUSTRY
Name of the Student
Name of the University
Author Note

2POTENTIAL IMPACT OF DATA MINING ON REAL ESTATE INDUSTRY
Table of Contents
Introduction......................................................................................................................................3
Brainstorming..................................................................................................................................3
Regulation and ethics.......................................................................................................................4
Disruption........................................................................................................................................5
Conclusion.......................................................................................................................................8
Bibliography..................................................................................................................................10

3POTENTIAL IMPACT OF DATA MINING ON REAL ESTATE INDUSTRY
Introduction
It can be stated here that the sector which is related to the real estate can be considered to
be an attractive option for the investment sector which is safe directly for the common people.
one of the most important factor which can be related to the concept of the real estate investment
is that it does not directly change value. On the other had not can be stated that the according to
recent prices of the real estate the price cannot keep rising all the time. One of the sector which
can be stated in the sector of implementation of data mining in is directly related to the concept
of the data which would be stored in the concept. It can be stated that the implementation of the
data mining process into the concept of the real estate would be very much beneficial in the
sector of the securing of all the necessary data which are conceived into the system.
The main focus point of the report is to take into consideration different aspect which are
related to the aspect of involvement of data mining into the prospective of the real estate.
Brainstorming
The potential impact which the concept of the data mining would be having on the sector
of the real estate are stated below:
 Real estate auction: The aspect of the real estate auction can be easily done within the
concept of the working of the technology. These majorly means the excursion of the
different processes which is relate to auction when relating to the concept of real estate.
 New builders: The aspect of the real builder can be stated to be very much a crucial role
in the sector of the interaction of new bidders as well as builder who would be directly
putting forward their interest in the involvement of the concept.

4POTENTIAL IMPACT OF DATA MINING ON REAL ESTATE INDUSTRY
 Updates foreclosure listing: This aspect can be very much beneficial in the sector of
initiation in the sector of the listing of the different resources which would be beneficial
in the sector of the execution of the different processes which are linked to the concept.
Regulation and ethics
The main sector of regulation which can be included into the sector is the security of the
data which would be prevailing in the system. This is due to the factor that there are different
legal documents which are attached to the concept of the real estate which are very much crucial
for the working of the overall process
Law
There are different forms of law which directly govern the aspect of all the functionality
which is related to the operation which is prevailing into the system. These laws majorly state
how the overall interaction with the system would be governed and how it can be managed
within the working of the overall organization.
Impact on market
The main impact that the implementation of the data mining which would be having in
the sector of the alteration of the different execution process which would reform the market
place as well as interaction with the normal people and the audience.
Ethics
The main sector of ethics which can be related to the concept can be stated in the process
of the auction. It should be very much ethical in the sector so that the process is executed in a

5POTENTIAL IMPACT OF DATA MINING ON REAL ESTATE INDUSTRY
proper manner without any form of discrepancy related to the overall value and the budget is not
seen in the sector of the operation which is related to the concept.
Disruption
The main concept which is related to the disruption aspect is the interaction of the data
which would be present in the concept of the data mining with the real estate. In majorly of the
cases it can be seen that fault may be included into the working which can directly result in the
sector of the disclosure of the data which can alter the overall interaction process which is related
to the concept. In this context it can be stated that the security of the data is very much important
in the concept of the operation which is included into the aspect.
Figure 1: Process Model Diagram of Data mining implementation in Real Estate

6POTENTIAL IMPACT OF DATA MINING ON REAL ESTATE INDUSTRY
(BEFORE)
(Source: Created by [Name of the Student])
In the above diagram it can be seen that the concept of the security of the data which
would be given in a data in the sector of the real estate is very much low level. This aspect can
majorly include different sectors of unethical factors involved into the concept of the storing of
the data. The ethical aspect in the concept of the storing of the data is not seen due to the factor
that there is no control mechanism involved into the concept.
In the diagram which is given below the implementation of data mining is added into the
control which directly adds a security mechanism in the overall process which would be directly
enhancing the system which is linked to the process. The involvement of the security aspect can
be beneficial in the implementation and the saving of the data which is stored into the working of
the real estate due to the factor that there can be different types of factor of risk which can be
included into the working which should be checked and controlled so that the overall system is
secured from intruders. In the diagram which is given below it can be stated that the aspect of
monitoring is included into the process which would be directly safeguarding the data which
would be involved into the systems

7POTENTIAL IMPACT OF DATA MINING ON REAL ESTATE INDUSTRY
\
Figure 2: Process Model Diagram of Data mining implementation in Real Estate
(AFTER)
(Source: Created by [Name of the Student])

8POTENTIAL IMPACT OF DATA MINING ON REAL ESTATE INDUSTRY
Conclusion
The report can be ended on a note that the sector of the data mining implementation in
the real estate can be stated to be very much important and is playing a very vital role. On the
other hand, it can be stated that there are different sectors of issues which could be seen in the
process which in the near future can be stared to be getting mitigated and it would be error free
implementation of the concept and highly adopted concept.

9POTENTIAL IMPACT OF DATA MINING ON REAL ESTATE INDUSTRY
Transcript
The process which is related to the aspect of the involvement of data mining in real estate
according to me is very much important. I have majorly in recent times come across different
concept of implementation which majorly focus on different technological aspect being involved
into different domain but this implementation can be stated to be very important to me. I can
have stated here that in the concept of the real estate there are different types of data generated
which can be very much crucial for the organization which is directly dealing with the data so
the engagement of the concept of the data mining into the aspect can be stated to be very much
important which would be directly safeguarding the data and keeping a precaution measure into
the concept of the operation which is related to the concept. The security of data in any of the
public domain oriented sector for the me is very much important due to the factor that if there are
any problem seen in the sector it can directly lead to different types of problem which can
eventually disrupt the normal functionality which is related to the concept of the operation. I
have majorly come across different implementation derails of the concept of the data mining and
how it can directly benefit the sector of the implementation when it would be included into the
working of a technological aspect. There are major field of advantage and disadvantage seen in
the implementation sector of the aspect which according to me is very much important due to the
factor that it directly gets involved into the internal working of the concept. I can say at the end
that the concept would be playing a more vital role in the near future which would be helping the
technology to be adopted in more access areas.

10POTENTIAL IMPACT OF DATA MINING ON REAL ESTATE INDUSTRY
Bibliography
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