To help REALTORS® interpret big data and apply it to their business, NAR hired back its former director of digital engagement, Todd Carpenter, to fill a new position. As NAR’s new managing director of data analytics, Carpenter will use volumes of information about how people approach and conduct real estate transactions to create new applications and tools.
Carpenter was previously NAR’s director of digital engagement, and most recently worked at Trulia.com as Senior Manager of Industry Engagement.
“I am very excited to be returning to NAR, and to be a part of this groundbreaking initiative,” says Carpenter. “NAR has access to an enormous amount of data, and I’m going to be looking at how we can use that data to help our organization, our brokers, and our members make better business decisions that, in turn, help the consumers they serve.”
NAR will create a data scientist position who will report to Carpenter. The two will form a new Predictive Analytics group, which will examine and analyze member and customer trends from a variety of data sets to better inform business planning. The group plans to synthesize NAR data with a variety of other sources. Carpenter will report to Senior Vice President and Chief Technology Officer Mark Lesswing.
“Predictive Analytics is NAR’s approach to the often misunderstood but intriguing area known as ‘Big Data,’” said Lesswing. “Predictive Analytics supports business by identifying, with some certainty, upcoming shifts in priorities. Keeping in front of these changes will allow us to provide the value that REALTORS® expect from NAR.”
The group will also assist the association in developing services and resources that can help REALTORS® better meet the needs of their clients. Beyond NAR’s data sets, Carpenter will also be responsible for acquiring and licensing data from other sources to achieve these goals. Members can learn more about the new initiative at the REALTORS® Conference & Expo in San Francisco. Lesswing and Carpenter will both be speaking about the latest trends in predictive analytics at the Emerging Business Technology Forum on Saturday, Nov. 9.