Are You Using the Right Data for Property Research? November 2, 2017 Parcel Data By: Vivian Nguyen Share: TwitterFacebookLinkedIn Not sure how to identify the data you should be using for detailed property research? Read on for guidance. Data is big news in just about every industry lately, with leaders calling for more data inputs to help drive better business decisions. Industries like oil & gas, public utilities, telecom, and energy are especially dependent on accurate and precise location data. If your industry requires property research, accessing accurate parcel boundary data is important for delivering meaningful results. Businesses reach their desired outcomes with greater efficiency by gathering and analyzing the right data sets. When it comes to property research, that means using data to help determine which parcels could most improve profitability, those that could hurt profitability, as well as land with potential for future opportunities. If you’re gathering data for detailed property research, you must ensure you’re using the right data sets to reach the desired outcomes. Having the right data will propel your business forward just as much as having wrong or unreliable data could set you back. The Challenge with Detailed Property Research Detailed property research can be a time-consuming, complex process requiring researchers to dig through multiple county files to find necessary information like streets, neighboring properties, pipelines, cables, and transmission lines. Then you need to manually aggregate this information to provide the required data for analysis. Some counties make the research process slightly easier by offering digital files of parcel boundary information, but not all counties offer this. You’ll likely have to deal with several counties to get a comprehensive overview of the information you need. Additionally, many counties require a fee to access their files and might impose limitations on how you’re allowed to use the information they provide. Finally, the information you get may become outdated very quickly, making it unusable on future projects. The picture laid out here clearly isn’t the most efficient, but many companies are still conducting property research this way. Necessary Information: Parcel Boundary Data The scenario above is likely a familiar one to you or your research team because parcel data contains the most important information needed for property research. Parcel data allows you to review the property details you require in order to make informed decisions. You just need a more effective way to get it. People expect fast answers in today’s digital workplace, requiring businesses to ensure they are working as efficiently as possible, and with the best information available. Property research is no different – information needs to be assessed and decisions made quickly in order for businesses to remain competitive and profitable. Advanced Parcel Boundary Data: A Simple Solution The words “advanced” and “simple” might seem like they don’t belong together when it comes to property research, but when you use an integrated property-based technology solution, that’s exactly what you get. Location technology makes it easy to gather the parcel data you need to conduct thorough property research. Rather than going from county to county on a project by project basis, you’ve got instant access to the most current parcel data for every county, all on one platform. Location technology also provides additional tools to assist with effective analysis. You will be able to view and aggregate information like property attributes, streets, pipelines, transmission lines, and much more. This data can be layered over a map for a more effective overview of the information required to make decisions related to land acquisition, development, and much more. Conclusion Gathering parcel boundary data is necessary for businesses conducting property research, and the ability to do so has become easier and more efficient thanks to location-based technology. Businesses leveraging a location technology are able to make data-backed property decisions quickly and efficiently, using nationwide parcel and property data that can be easily accessed and analyzed all from one place. Location technology ensures businesses in the oil, gas & pipeline, energy, engineering, and utility industries are tapping into the right data for informed decision-making. Information is consistently updated and available for unrestricted use, meaning that you can work confidently, knowing the data you are using is current and valid. Click here to learn more about how a location data technology platform can help your organization gather and aggregate reliable parcel data to power your location-related decisions. For more information about using parcel boundary data, download a copy of our guide!