There are plenty of opportunities for institutions in the lending and commercial real estate ecosystem to better incorporate data into their evaluations of properties and transactions, said Patrick Jacolenne, founder and chief data strategy officer at Datalogiq 360, in a recent discussion with Michael Griffin, managing director, broker solutions at LightBox, as part of the LightBox Connects series.
Jacolenne noted some of the most common data problems he sees. One is “a lack of consistency in the ways that data is sourced, managed and then leveraged,” he said. It is not uncommon for lenders or CRE developers to go from digitized documents to paper and then back to digital, he noted. This can cause complications in the way that data is then integrated into workflows and analytic processes.
Another issue is reliance on old data. Lenders, investors or developers who are looking at six- to 12-month-old data to help inform them about property valuations and the market a
