Using massive amounts of proprietary data and advanced analytics technology this solution delivers immediate value in difficult markets
Austin, TX – March 18, 2023 – Today, Waterloo Data announces the release of its new home pricing tool, BuilderIQ, allowing homebuilders across the United States to scientifically calculate optimal prices on new construction. Frequently, builders rely solely on traditional, unsophisticated and insufficient pricing methods, such as cost-plus or comparison-based pricing. Some builders have experimented with home grown data analysis tools, or tried the few commercially available pricing options, both with mixed results.
“Our home builder clients repeatedly tell me that traditional pricing methodologies are suboptimal and not dynamic enough for today’s market,” said Matthew Brown, Founder and CEO, Waterloo Data. “Pricing approaches like cost plus led to many builders leaving money on the table during boom times and struggling with price discovery to establish the local market in recent quarters”.
With powerful macroeconomic forces at play, including the Federal Reserve’s tightening monetary policy leading to seven quarters of contracting residential spending declines, along with lingering supply chain issues, the shortage of new home inventory persists. Limited supply in a market with high demand means that pricing for homes is all the more crucial for home builders, and it is very difficult for most to scientifically derive optimal values at scale. These market realities coupled with requests from clients led Waterloo Data to create its novel, science based approach.
BuilderIQ began with the cultivation of terabytes of data, including descriptions of properties (lot size, construction date, and number of bedrooms and bathrooms, among other factors), population characteristics, regional economic data, local crime statistics, price histories, local business characteristics, proximity to emergency services, local traffic flow data, and much more. These data points are then interrogated by cutting edge artificial swarm intelligence to predict optimal price ranges for new home construction.
For more information visit : https://waterloodata.com/builderiq-pricing-engine
About Waterloo DataSince 2009 Waterloo Data has helped organizations solve their most complex data management, cloud infrastructure, and outsourced product development challenges. Headquartered in Austin with offices throughout Texas and a nearshore delivery center in Monterrey, Mexico, Waterloo Data provides enterprise management and technology consulting services for clients in Healthcare, Financial Services, Commercial Real Estate, and high growth technology companies.
Press Inquiries: Jamey Heinze, CMO, Waterloo Data - jamey@waterloodata.com
