You will still be using CoreLogic as the company I have also provided the Assignments 1 & 2 that are needed in order to complete assignment 3 for the slides. I will be making the video however I just need the slides prepared for the presentation.If you ha
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20200530224622assignment_1_jwi540_ashley_murray__1_1.docxRunning head: PLAYING FIELD, COMPETITION AND REAL ESTATE 1
PLAYING FIELD, COMPETITION, AND REAL ESTATE 3
Playing field, competition, and Real Estate Ashley Murray
Dr. Leo Giglio
JWI540-Strategy
May 3, 2020
Playing Field, Competition, and Real Estate
The position of Chief Strategy Officer Role is to discover the next step for the Company. The real estate is the most innovative industry and functions as the playing field in this strategy. The competitors in data analytics are small and large, depending on the location to explore. In the U.S, the competition is intense compared to Canada and the United Kingdom, which makes it advantageous for CoreLogic to venture into the countries. The globalization move and acquisition projected will be an advantage, especially in obtaining new customers. The following table shows the analysis of Real Estate Solutions in CoreLogic and its competitors in the field.
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Company Name |
CoreLogic |
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Organization within the Company |
CoreLogic Real Estate Solutions. CoreLogic provides a range of data on consumers, property information, data analytics, and services. The combination of public and proprietary makes it suitable to concentrate on Real estate services. |
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Industry |
Real Estate Industry. The industry entails both residential and commercial real estate data. CoreLogic would provide comprehensive data for multiple listing, real estate brokerage, and technology. |
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Market Size |
Market size is estimated to be approximately $27.2 trillion in 2019, which is almost 12.5% increase from the last peak in the year 2006. |
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Recommended Playing Field |
Increasing network base in Canada and the United Kingdom to offer more real estate solutions since the competitors who provide such data are not concentrated in these two countries. Besides, acquisition of Black Knight's technology, Paragon, which enables real estate agents to connect buyers and sellers while the agent can observe the interaction progress on the platform (Bouwman, Nikou, Molina-Castillo, & de Reuver, 2018). The main clients are real estate agents who would rely on the data provided by CoreLogic to enable smooth business transactions. |
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Rationale for Recommended Playing Field |
Real estate is highly innovative, with favorable revenue potential. CoreLogic revenue would increase from its current $426 million by 5% contributed to by the expansion in the two countries while employing the technology invented by Black Knight (Bouwman, Nikou, Molina-Castillo, & de Reuver, 2018). Currently, CoreLogic has a favorable platform for data with data on consumer credits, which is rich information, especially when assessing a prospective buyer in real estate. The ability to present data on real estate with better consumer deals amid the increasing population in these regions would generate high revenue. Also, the intervention into Canada and the United Kingdom prove to profitable move, especially with CoreLogic's constant change in technology. Technology plays a significant role in CoreLogic's progress in the industry compared to other companies. Furthermore, with a drop in the real estate revenue in Canada, CoreLogic diverse technology would help the professional dealers in real estate to identify suitable deals provided they obtain rich information from the CoreLogic platform. |
Competitor 1: Dun & Bradstreet
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Size |
The Company has a total of revenue of $1.6 billion, according to the Company's 2018 third-quarter report. The revenue on real estate is not defined clearly. |
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Most Significant Strength |
Partnership with Black Knight's most significant data source, Reonomy, in 2019 The Company has a steady free cash flow that enables it to afford resources to expand into new projects. The Company has also existed for long and has a strong distribution network enabling it to reach the mainstream of its potential market. |
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Most Significant Weakness |
According to the Company's SWOT analysis, the Company has poor product demand forecasting, hence incurring missed opportunities compared to its competitors. The Company is only one branch in Canada, which is advantageous towards CoreLogic in the projected innovation in real estate (Zhong, & Hui, 2020).
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Recent Performance |
The Company's recent progress in the identification of risk and opportunity for companies, with the entry of the COVID-19 impact index. They assessed the location impact, industry impact, company health impact, and network impact. The Company recently had a proposed partnership agreement that would see its data section increase in value. The partnership between Dun & Bradstreet and QOMPLX could expand the database with enhanced cybersecurity, credit scoring and decision system, data management, and data services. |
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Major Developments |
The Company has branches in China, which is a fast-growing economy. Since it has many branches to the East, the Company recently launched a Cloud Database Repository in India. This allows users to access organized data with a complete view of any company present on the platform. |
Competitor 2: Black Knight
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Size |
The total revenue for the Company in 2019 is $1.2 billion, according to the quarterly report on the Company. The revenue in real estate is not defined. |
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Most Significant Strength |
The Company has over 14 bases in the U.S, which gives it a more excellent market value. It has a record of good performance in new markets. The partnership with Dun & Bradstreet also increased the company value. The Company also has a strong distribution network enabling it to reach its potential markets according to its SWOT analysis. |
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Most Significant Weakness |
The Company does poorly in marketing, which leaves it in an inferior position in the market, giving competitors an advantage over the Company. The Company has zero branches in Canada, which is also advantageous for CoreLogic. |
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Recent Performance |
The launch of Paragon Connect, a mobile solution enhanced for real estate agents to interact with sellers and buyers of real estate. The technology gives the Company a competitive advantage over others in real estate. |
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Major Developments |
Reonomy, platform enriched by Black Knight, has vast data networks from both proprietary and public sources that help professionals acquire more businesses in real estate by making better decisions (Viriato, 2019). The extensive network the Company has in the U.S with over 14 branches makes it highly developed.
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Conclusion
To sum up, CoreLogic Real Estate Solutions has several platforms such as Matrix that give it a competitive edge in real estate. With the acquisition of the Black Knight mobile technology, data would be secure for the real estate professionals to acquire without necessarily seeking to update the value of houses. Currently, data on the platform is only estimated and is not the actual value, and the agent on the ground does the updating. The new acquisition makes the process easy and fast. The venture into a new environment is also profitable following the drop in real estate revenue in Canada. CoreLogic is a data and analytics company that solves the problem of bulk data and presents tailored needs to the clients. The estimated value of the real estate is about $27.2 trillion, which is the investment market value. Upon employment of the venture strategy, CoreLogic revenue would increase significantly.
References
Bouwman, H., Nikou, S., Molina-Castillo, F. J., & de Reuver, M. (2018). The impact of digitalization on business models. Digital Policy, Regulation, and Governance.
Viriato, J. C. (2019). AI and Machine Learning in Real Estate Investment. The Journal of Portfolio Management, 45(7), 43-54.
Zhong, J., & Hui, E. C. (2020). Depreciation, Building Age, and Market Price Statistics for Reference in Urban Redevelopment Option Pricing. Journal of Urban Planning and Development, 146(1), 04019031.
