Research on Factors Affecting Intention to Adopt Big data in the Real Estate Field*
Jung-Ik Kyung, Kook-Chul Lee · Journal of Real Estate Analysis · 2015
As the society develops, risks and uncertainty increase, and big data is at the center of information technologies that can solve these issues. In research on utilization of big data in the Real Estate field, Kyung(2014) suggests the high utility of big data in the field by using STEEP and correlation analysis based on characteristics of Real Estate and big data. In other words, big data can provide an efficient solution to general problems in the field of Real Estate by collecting and analyzing a large quantity of structured and unstructured data. This study aimed to identify factors that affect the intention to adopt big data in the Real Estate field based on perception of strategic values and environmental factors suggested by Paret et al.(1988), Quinn & Baily(1994) , Elizabeth & Michael(2004) , and Kyung(2015) , and to propose relevant guidelines to institutions and corporations that consider the adoption of big data. Based on empirical analysis using SEM (structure equation modeling), the results were as follows: first, it is advisable that institutions and corporations that are considering to adopt big data in the Real Estate field focus on improving the work process, capturing opportunities, and providing information for decision-making. Second, they must fully review internal factors of the Real Estate industry such as IT development trends and changing environment and select crucial business partnership in order to gain competitiveness in the market.