REA Group believes big data can provide smarter insights on the cloud
“COMPANIES need to keep up with digital transformation or risk being left behind,” REA Group Asia Chief Technology Officer Shen Tham said during a recent panel discussion with Google Cloud Regional Sales Director for Southeast Asia Tim Synan and Maxis Chief Technology & Information Officer Morten Bangsgaard.
Tham said that data integration on the cloud is a no-brainer for the REA Group as a majority of its data is already in the cloud.
Before integrating cloud solutions with its systems, it was challenging to connect massive data sets from different Application Programming Interface (API) services.
Moving to the cloud has enabled the REA Group to try new ideas and run low-cost data and analysis experiments which are especially useful when training employees on new skills while to help the company with its digital transformation.
Tham also thinks that other companies that are hesitant to move to the cloud can might pick up a thing or two from REA Group’s journey which hasn’t been smooth but never lost the support of leaders.
One of the data projects Tham is most proud of involves bringing in transparency in real estate prices, showing the last known transaction value of “similar properties”.
Given the lack of digitization of the real estate industry, the REA Group had to make an effort to meet with government officials and create new feeds to get the desired result delighting customers instantaneously.
Other than optimizing cloud integration, the company is also focused on customer satisfaction and experience, aiming to be able to raise its revenues.
The REA Group is also working on delighting customer browsing their web properties by customizing it to suit the needs and wants of the customer.
To do so, the business factors in crime rates, the economy of the area, and other datasets to provide more insightful information to visitors and advising them in a more suitable way when they’re looking for real estate.
Overall, Tham reckons that companies that are on the fence about migrating to the cloud don’t fully understand the potential and benefits of the technology.
“If you fail to move to the cloud, you’ll be left behind and that’s a bigger risk,” concluded Tham.