Connectivity, mobility, cloud computing, e-commerce, social media, these are terms we seem to hear daily now as rapid advancements in technology impact how we live, work and play. Booz & Company has coined this process “digitization” or the pervasive adoption of wide variety of digital, real-time and networked technologies. Commercial Real Estate has long suffered with a perception of being a late-adopter of new technology. So is it true? How does real estate stack up against other industries?
Booz & Company created the “Industry Digitization Index” to measure and analyze to what degree digitization is transforming specific industries.
The Industry Digitization Index consisted of four factors involved in the digitization effort:
- Underlying Infrastructure
The leader in the clubhouse is the financial services and insurance sector who have exemplified a long standing effort automate both back office and customer-facing transactions. Included at the bottom of the list to no surprise is real estate.
You can read the detailed findings from Booz & Company here.