What Makes Radix’s Data Ecosystem so Powerful?
At Radix, we understand the importance of data in today’s business world. That’s why we’ve built the multifamily industry’s first shared-data ecosystem, allowing our clients to make data-driven decisions. In this video, our Chairman, Brad Cribbins, shares his insights on what makes our data ecosystem so powerful.
“The ecosystem is a way to weaponize this concept of data compounding on itself and so as you end up with more people in the platform you end up with more points of refinement all along the way. And so at least in our estimation as you again think in terms of the bigger picture for the business they’re trying to understand, how do I set my rates? How do I understand the market? Is it a good time to sell? Is it a good time to buy? What are the indicators that suggest that those things are true?
As the ecosystem is kind of playing off itself, it allows you to continue to fine-tune the Precision of that information. So, if you think in terms of as the in as the as the ecosystem has grown and now, you’re starting to think, now you’ve got eight million units that are currently on the platform, and the people that are ultimately now using it to make decisions have eight million touch points to determine whether or not those particular things are as credible as they as they thought they were.
As an example, if you’re thinking about it in the context of I understand how I’m sitting in my Marketplace, how much more would that information be valuable if I could then understand what type of housing stock is being impacted in the Marketplace?
There may be open-source data pieces that relate to where we’re going with some of the additional products that say, well, I understand now that certain U-Hauls are coming in from California at a pace of X, Y or Z, and I understand that certain U-Hauls are leaving Arizona at a pace of –– so the question is, how do you begin to use open source data, coupled with Market data, coupled with all the information that’s core data in terms of the and the ecosystem itself, and now all of those things build on one another, to tell me it’s a good time actually to make an acquisition or it’s a good time to pursue a rehab repositioning strategy?
Those types of things are how the information just continues to build on itself, and it continues to kind of provide information in ways that are precise, unlike anything that we’ve been able to use prior.”
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