Combining Data to Produce Economic Value
In this chapter, the concept of data fusion is developed and presented through a case study of Zillow. Data fusion involves the novel combination of data from various sources. Zillow provides a great example of how public, proprietary, and user data are fused to create new and valuable views on real estate and the overall real estate market. The impact of Big Data as a force for market disruption in the real estate industry is examined in great deal. The role of data products and data fusion in enabling innovation is examined. Lessons from Zillow are presented and related to other firms interested in leveraging data fusion for value creation. The chapter also examines how Mint.comfollowed a similar strategy for data fusion in the creation of innovative data products in the personal finance industry.
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