The Honeycomb Effect: A Cloud Native Approach to Connecting and Enriching Addresses
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The document discusses a cloud-native approach to managing location data, emphasizing the importance of accurate address-based data integration and enrichment. It highlights the challenges faced in real estate and prop tech due to inconsistent data formats and the necessity for a unique property identifier. Additionally, it introduces PreciselyID, a comprehensive solution for geocoding and master data management that aims to streamline data processes for improved business decision-making.
The Honeycomb Effect: A Cloud Native Approach to Connecting and Enriching Addresses
- 1. The Honeycomb Effect: A Cloud Native Approach to Connecting and Enriching Addresses
- 2. Speakers today 2 Presenter Walter Baum Sr. Account Executive Presenter Tim McKenzie Subject Matter Expert, Location Intelligence for Cloud & Big Data
- 3. The global leader in data integrity Trust your data. Build your possibilities. Our data integrity software and data enrichment products deliver accuracy and consistency to power confident business decisions. Brands you trust, trust us Data leaders partner with us of the Fortune 100 90 Customers in more than 100 2,000 employees customers 12,000 countries
- 4. Common themes in Real Estate/ Prop Tech • Joining large amounts of address-based data (internal & 3rd party) • Moving applications to the cloud to take advantage of powerful computing- AI/ML • Industry-wide need for unique and persistent property ID • Data enrichment for 360 view of a property 4
- 5. Messy Location Data => Time + Risk + Inefficiency • Location is Complex: Addresses, Lat/Long, Shapes, Lines, Formats • Data Scientists are not typically used to these data types • Difficult to join different formats and data types with accuracy • Lack of reliable, robust 3rd party data • The availability and quality of data varies greatly country-to-country • Time to evaluate data is onerous • Rapid changes in properties, businesses and geo-characteristics • Keeping a consistent, updated record is crucial for business decisions • Computationally intense to join and enrich spatial data at scale • Enriching and adding variables from spatial data is critical, but highly time consuming “For every minute spent in organizing, an hour is earned.” -Benjamin Franklin Inventor, Statesman, Insurer 5
- 6. A location-centric approach to Master Data Management (MDM) 03. Analyze Apply data science at scale to gain a competitive advantage 02. Enrich Leverage trusted ID to join massive amounts of your own and 3rd party data sources 01. Organize Assign a trusted ID that is unique and persistent to each address 6
- 7. Master Location Data with PreciselyID WHAT IS IT: Best-in-class geocoding USA dataset that is built, owned, and maintained by Precisely WHY IS IT SO ACCURATE: HIGH MATCH RATE + BEST IN CLASS POSITIONAL ACCURACY Build Data Merge De-dup Standardize Link to our data Build linkable data Pre-score the country Discover additional addresses Manage data synchronization Data Transfer 204m Addresses 52.7m Secondary Addresses Support for POI’s in Address Matching Assign PreciselyID 81% Within Building (or better) 16% Parcel Centroids 97% of all locations are at a parcel centroid level of accuracy or better 7
- 8. We’ve assigned a PreciselyID for every address so you can stop relying on complex multi-field addresses Typical Output from Geocoding 8 Mesilla Valley Mall 88011 Input Address Output 700 S Telshor Blvd Las Cruces, NM 88011-4669 9S6012 CRZ WI53118 Input Address Output W399S6012 COUNTY ROAD Z Dousman, WI 53118-9543 1053 Thornton Lake 97321 Input Address Output 1053 NW West Thornton Lake Dr NW Albany, OR 97321-1352 1 100 #1 10025 Input Address Output 1 W 100th Street, Frnt 1 New York, NY 10025-4857 P0000G4I6A4F P0000PB9B3L2 P0000GL1BBGU P0000IVQH0XI 8
- 9. Schools & Neighborhood Hazard & Risk Data Population Demographics Property Attributes Amenities and Competition Parcels & Buildings Build deep analytic datasets with speed and accuracy PreciselyID Other 3rd Party Data Historical Loan Performance Loan to Value 9 Loan Portfolio MLS Appraisals
- 10. Precisely Big Data SDKs Fast and flexible Spark APIs to support cloud-based architectures Component Features Geocoding • Address Validation & Geocoding • Reverse geocoding • Unique and Persistent Address Identifier Spatial Processing • Geohash ID Assignment • Point and polygon • Spatial join • Distance to point, shape, line • 32 Spatial-specific functions Street Routing • Isochrone/Isodistance • Walk-time/drivetime • Point-to-Point calculations 10
- 11. Questions?
- 12. Thank you
Editor's Notes
- #8: Product: Master Location Data
- #9: Now that we have an ID, the real fun can begin. Let’s start to operationalize your addresses.
- #10: We have off the shelf data (footprints, POIs, boundaries, etc.) available to quickly enrich your addresses. This is enabled by the pbKey feature within MLD and the fact that we have pbKeys on our enrichment data. Enriched address provide more context and serve as a better starting point for business operations/challenges/analytics/etc. that appear on the right side of this slide. Device IDs Signal strength Predicted coverage Data consumption by device Average monthly bill Competitive fiber