Big data is a hot topic in many industries, and real estate is no different. For investors, it’s a great way to make predictions for future investments and increase ROI. In a 2014 study at MIT, 66% of executives reported a competitive edge from using data in their business. The most powerful competitive advantage of using big data comes from incorporating your traditional data with non-traditional external data. Doing so reveals hyperlocal trends that point to areas with potential for growth. 

The question is how do we use this data in an effective manner, and what kind of non-traditional data should we consider? People leave digital breadcrumbs—data that exists while conducting everyday activities—everywhere from a person’s physical location, often tagged on social media or on review apps like Yelp, to credit card use, and even health data from things like Fitbit. Understanding what’s important or where to start can seem like a daunting task. 

To get you started, we’ve put together a list of data sets you might want to consider, along with some real-world applications.