If you knew how visitors interact with your website, what their ages and interests are, could you serve them better? Could you use information about your clients and potential clients to create more effective marketing? That’s what the National Association of REALTORS® (NAR) aims to find out. At the 2013 NAR Convention and Expo in San Francisco last month, chair Danny Frank hosted a talk about data collection titled Big Data and You: Predictive Marketing, Predictive Analytics and Data Visualization. Big data is essentially the aggregation of separate but potentially related information sets that can then be interpreted in a practical way. For example, a website can collect data about the actions of its visitors and then use that data to predict and surface what the user will want to see or do or buy next. This is called predictive marketing. If you have ever noticed “You might also like” messaging on a site like Amazon or Netflix, then you have seen an example of a business using the data it collects to tailor its services to you. In theory, big data can be used to develop predictive analytics that will improve user experience – both in the real world and online – and, as a result, increase profits. The retail applications of predictive marketing are apparent, but what are the applications for the real estate industry? Several ideas were posited at the NAR talk mentioned above. Todd Carpenter, managing director for NAR’s recently created data analytics group, explained that analytics are like listening and “the more you listen to your client, the more you can serve their needs.” To that end, one of the group’s aims is to figure out how to use the mountains of data that NAR already has at its...