Moving Forward: The Philippine Real Estate Market Game

The emerging real estate industry is the forerunner in Philippines’ movement towards urban revolution. And in support to its urbanization efforts are the country’s firm economic background, the compelling demand for business process outsourcing (BPO) services, an increased rate in consumer spending, and the thriving spate of remittances from the overseas Filipino workers.

As these developments continue to steer the economy with impressive results, this lead most economic experts to believe that 2015 is the perfect time for property investors in the Philippines. Some of the big leaders in the market today such as Vista Land, Megaworld, Ayala Land, and Century Properties are among the long-time honchos who’ve committed their investments in the country.

As these companies managed to grow for the past years, they proved that the property market encourages metropolitan development in the country.

Increased Demand

According to Century Properties’ Managing Director, Robbie Antonio, the demand for new homes is strong.

2011 was the year where the real estate market truly escalated in the Philippines, as the economy inflated a 7% raise, which was the highest compared to the past years. This also included a 7% increase of remittances inflow from over 10 million overseas Filipinos.

In Antonio’s experience, the biggest risk and obstacle in the industry is overspending and being too ambitious when the market is not as hot contrary to what one may think.

Gearing up for the Years Ahead

The market can change in a heartbeat. Some may presume that with the recent successes of the real estate market in the Philippines, it will soon be enclosed in a real estate bubble—a known distressful game changer when it comes to the local or global real estate market turf, as it occurs periodically, particularly following a land upturn.

In preparation for this economic turn, most analysts believe that the Philippines’ resilient economy can burst this bubble, as the government focuses its efforts on fixing critical aspects such as updating public infrastructure, political stability, inflation control, and maintaining low interests.

Urban developments have also implemented plans of relocation outside the capital city. Most of these investments can be seen on the nether part of Manila such as Cebu, Iloilo, and Tagaytay. These cities are believed to be where the next wave of suburban and economic growth will transpire.

Aside from these relocations, the Philippines also has its own share of tourism and hospitality treasures that were recently discovered and immediately appealed to a number of investors. For instance, PAGCOR’s Entertainment City in Parañaque, the City of Dreams, Bloomberry Corp.’s Solaire Resorts & Casino, and the Okada Group’s Manila Bay Resorts, which will be launched in the coming years.

According to PAGCOR, these entertainment properties were anticipated to attain $7 billion of gaming revenue by 2019. With a lot of these varying properties in store, more foreigners have become interested in buying these investments to set up different businesses such as manufacturing and automotive.

The country is favored by some foreign buyers to do business in for the strong macroeconomic indicators, competitive working resources, and a stable climate. The Philippines is also a welcoming place for foreigners to study, work, play, and live to their accord.

Without a doubt, the multiple foreign investments and the government’s efforts had played a huge role in the country’s urbanization. But looking at the larger picture, the private sector was the first to lead the endeavors in the advancement of constant urban revolution.

Lots of overseas Filipino workers and BPOs have bought properties to become their office and residence. These properties have provided the groundwork for most Filipinos to adapt to a new paradigm shift, a new lifestyle, and standards for living.

For these people, settling for less is not an option. Ensuring that their hard-earned money will go only to the best property investments is their best foot forward, especially in this year of 2015 where the Philippines is proven to be a huge refuge for property trades and investments.

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5 Myths About Data and Analytics That Business Owners Shouldn’t Believe

Most companies nowadays understand how important it is to collect data from a variety of sources. They know that valuable insights can be harnessed from these information that can potentially help managers and business owners to make the best decisions for their company.

However, there are also those who are wary about analyzing data because of the many misleading information about what it involves. If you are one of those who are still on the fence about data analytics, read on and see if any of the 5 myths below is what’s holding you back.

Data analytics is only for the big boys.

Many mistakenly believe that data analytics are just for enterprises and the small businesses will not benefit from it. Some small business owners also get intimidated about it because they lack the knowledge on how to do it or think that they don’t have enough data in their company to analyze. This is simply just not true.

Companies big and small need to collect and analyze data in order to grow. Even as a start-up company, you must already think about the types of data you need to collect and from which channels. Do not automatically think that you don’t have enough of it. Most companies these days record transactions in a database or an accounting system, in-house or outsourced data entry services. These data can already be interpreted and give you the results that you need.

Data analytics is only for complicated problems.

Data analytics can give your company answers to a wide variety of questions, whether they’re complicated or not. While it is true that there are many powerful analytics tools that can do more in-depth analysis, such as fraud analysis, it doesn’t mean that it can’t be used to gain insights on less complicated questions.

 

What really matters with data analytics is being able to have a good business question and have the data, the tools and the technique that will help answer the question.

Analytics takes up too much time.

Data analytics doesn’t have to take all of your time. Some marketers think it does because they think that they have to report on every single metric. However, this doesn’t have to be the case.

Before conducting the analysis, you must already set the questions you want answered. Then decide on which metrics are necessary to measure in order to get the answers that you need. Finally, figure out how to track them in your software. Knowing exactly what you need will significantly cut down the time you spend on analyzing.

You must have a mathematical background to get the job done.

Many business owners automatically think that analysis needs an extensive background in math, which immediately puts off those who don’t. While it’s true that a mathematical background would be helpful, you don’t have to be a math whiz to conduct data analytics successfully.

There are many different sources of information, such as classes or even articles online, especially geared towards beginners that can teach you the essential things you need to know. Aside from that, there are many different data analytics software available in the market these days that are easy to understand and to use. Take this visualized data for example: a UK contact lens distributor created a well-designed infographic on road safety that used relevant data for their target market.

You need to have expensive tools to conduct analysis.

This might be true for huge companies that have massive amounts of data and complicated problems to solve. However, a lot of businesses don’t really have a need for those powerful, expensive software.

The truth is, more than the software, the most important is the technique if you already have simple tools in your disposal. As long as you have data recorded in a database or a spreadsheet, a tool that can create charts and graphs is all you need assuming you already have a working knowledge of the techniques you can utilize to solve the problem.

Don’t immediately be scared by everything you hear about data analytics. Some of them, such as these myths presented above, are simply just not true. Do your research thoroughly first before you say no.

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How 4 Companies Successfully Used Big Data and What You Can Learn from Them

Big data has been changing the way companies do business nowadays, such that through data management services, they can access important and accurate insights gained from the gathered data from a variety of sources.

These insights enable companies not only to understand their customers more clearly but also let them see their strengths and weaknesses, as well as, identify possible opportunities and threats.

Knowing these can help in improving their processes, and develop products and services tailored to their target market’s demands.

If you’re wondering how your company can harness the many benefits of big data analysis, read on for some inspiration from four of the most successful businesses that have successfully done it.

Amazon

Amazon has been collecting personal data about their customers for years, and it doesn’t just include basic information such as addresses, contact details, and payment information. It also contains details on their purchases and other products they have ever looked at from the site.

They have organized all this data and made them readily available to their customer service representatives, enabling them to provide fast, efficient, and personalized services to their customers.

By empowering their staff to provide exceptional service, Amazon was able to develop better relationships with their customers.

 Google

Google uses people analytics to reinvent human resources. They realized that to keep innovating, they have to take a people analytics approach to ensure accurate people management decisions that will impact the company positively.

Aside from renaming human resources into “people operations,” they have adopted a data and analysis-driven approach when making people-related decisions. This has enabled the company to implement many unusual, powerful, and revolutionary changes that made them one of the top companies to work at for the past years.

 Uber

Uber is changing the way people book taxis, as their business model leverages big data by crowdsourcing. The company possesses a huge database of drivers in all the cities it covers—enabling the company to match them instantly with passengers looking for a ride.

By using GPS, street data, and Uber’s algorithms, they can monitor traffic conditions and travel times in real-time, allowing them to adjust rates depending on the situation. They also utilize big data in their detailed rating systems to build trust among customers and drivers, and at the same time, enable them to make informed decisions.

Starbucks

Big companies like Starbucks are now using big data analytics to pick new store locations. Starbucks had to rethink its growth plan after they were forced to close hundreds of stores in 2007 and 2008.

By using Esri’s mapping software, they were able to have large amounts of location-based data and demographics analyzed in order to figure out the best places to open up a new branch—without negatively affecting revenues of other branches. This does not only help with their expansion plans, but also protects revenues in all their locations.

These examples illustrate how leveraging big data can help companies expand, improve processes and customer relationships, and create better products and services.

By keeping in mind how these companies were able to successfully use big data to drive innovation and growth, you’d be able to come up with ways on how your business can do it too.

 

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