The first era of digitalization in real estate and construction is coming to an end. It was an era of discovery and significant progress, in which we observed digitalization in three separate silos: design, construction, and maintenance. Over the last year, we witnessed plenty of wonderful tools enter the market. One of them for example, improves the productivity of General Contractors during the construction stage, enabling them to make virtual visits to a building and manage workflows during the maintenance stage.
The (Digital) Future of Real Estate
The arrival of next-generation SaaS DeepTech hints at a new era for real estate digitalization. The arrival of new technologies in related sectors calls for a better integration of the silos mentioned previously – all throughout the entire building lifecycle.
As real estate companies look to further increase productivity and cost efficiency, product capabilities such as AI, knowledge capitalization, and above all, predictiveness, have become essential in the Real Estate and Construction industries.
A potential future-unicorn startup has understood this concept: Data Soluce. Already a leader in Europe, it will soon be opening offices in San Francisco.
Data Soluce is the first Building Lifecycle Data Management platform. Their California-based team recently won a competitive pitch contest organized by Tech Estate Today in San Francisco, in partnership with DISRUPTCRE. The competition gathered the most innovative Tech startups in the Real Estate sector.
Data Soluce’s product is simple, yet extremely powerful: at every phase of the building lifecycle, all data delivered by different actors (Real Estate developers, Architects, General Contractors …) is collected on a SaaS platform to form an accurate, real-time rendering of the building. The platform allows every player to look at the progress or status of a building, from a general overview down to the finest detail of each component. It is expected that this level of digitalization will increase stakeholder efficiency by 10x.
New Opportunities For Building Digitalization
1 – Predictive Data for Safety and Security
Imagine a fire is detected in an office building. The first minutes before the firemen’s intervention are often decisive, and time for problem-solving is crucial. In this case, a digital image of the building is unrivaled in terms of efficiency.
Predictive algorithms can calculate, in real time, the right way from the nearest access of the building to the room where the accident occurred.
Imagine — during a fire or a terrorist attack, it can be useful for intervention forces to instantly have the details of each room, each door, and each staircase in the palm of their hand. Lives can be saved!
This predictive technology is also useful for maintenance or technical interventions, by detecting, for example, key components to act on:
2 – Predictive Data for Costs
Cost control is key on a building project. However, with a “siloed” approach, every building is designed as a prototype and is reinvented every time.
By creating a digital image of its buildings, the owner is now able to capitalize the different costs in a comprehensive database during the tender and the construction phases.
Today, the power of algorithms enables us to have a cross-analysis of the finest details of each component of the building, capitalizing on an accurate-cost database. And, with more and more new projects, the completeness and quality of the owner’s information will continue to improve over time.
Using this powerful database at the early beginning of a project will be game-changing: from the schematic design phase, the owner and the different actors could benefit from an extremely precise quantification of the project in real-time!
Above all, a group purchasing policy directly with suppliers and manufacturers could be implemented by owners and real estate developers for all their ongoing or planned projects.
3 – Predictive Data for Risks and Insurance
Last but not least, the cost of construction errors has never been so high! As an example: over the last decade, these costs have increased at an average of 5% per year.
It represents billions of dollars each year for everybody — Insurance Firms, Owners, Designers and General Contractors.
The only way to eliminate these cost overruns is error prevention.
How useful could it be for an architect to see claims statistics and preventive actions linked to a component he is in the process of building in a simple pop-up? Everyone involved in the project could be aware of the risks and costs involved and could take preventive actions to avoid future problems.
This is precisely what the Data Soluce predictive algorithms are offering to real estate actors. Regulation information and best practices are also proposed as part of their SaaS platform.
“Our goal is to bring total transparency and accountability into the construction building process, to boost the productivity of the entire real estate industry,” says Nicolas Regnier, CEO of Data Soluce.
Data Soluce will attend the DISRUPTCRE SAN FRANCISCO event on September 13.