Tag: metrics

Embracing Innovation: How Tech is Revolutionising Monitoring in Ireland’s Booming Real Estate Market

Tech innovations are making their mark on all industries and real estate is no exception. New technology developments are not only allowing prospective buyers to view properties without stepping foot in them but also making the management and monitoring of properties easier for real estate professionals. In this article, we’ll explore just a few of the ways technology is transforming the real estate industry, for buyers, agents and homeowners. 

Just one example is the rise in online rental platforms such as renthero.ie, which enable renters to view properties all over Ireland. Rather than having to show up to multiple inspections, they can search for apartments or houses that meet their criteria and connect with prospective landlords remotely. In addition, property owners can easily showcase their listings and gain access to valuable performance data. This shift towards digital rental platforms has not only streamlined the rental process for both tenants and landlords but has also brought greater transparency and convenience to the market. With the integration of advanced features such as virtual property tours, online payment systems, and tenant background checks, these platforms have become an integral part of the real estate industry in Ireland, transforming the way properties are rented and managed. 

Monitoring KPIs and metrics

Real estate management software has significantly enhanced the way company representatives view and handle data, with everything from properties for sale to average days on the market visible at the click of a button. A management dashboard gathers all of the key information in one convenient location, enabling reps to quickly view crucial data that can be used to make important decisions. 

By tracking recent sales information, real estate agents can make informed decisions about listing prices and how to best go about marketing similar properties. Agencies can also monitor their sales/rental income, the number of visits to their listings, and track previous enquiries and referrals. Prior to the creation of real estate management software, gathering this amount of data would have been a time-consuming affair and, in some cases, impossible. 

Virtual tours

Even before Covid-19 lockdowns, there was a rise in the use of virtual tours to showcase properties online. They enable prospective buyers and renters to view properties from the comfort of their office desk or couch and figure out if they want to make the effort to attend an in-person inspection. For those viewing properties from abroad who may not be able to attend an inspection, virtual tours provide a great alternative. 

Virtual tours are beneficial for agents too, as they can help to satisfy the curiosity of those who aren’t serious about buying a property and might otherwise turn up to inspections for a sticky beak. When a listing includes a virtual tour, the people who do turn up to inspections are more likely to be prospective buyers and worthy of the agent’s time. Virtual tours also give buyers an opportunity to get a “first look” at a property before putting together a list of questions to ask the agent during the in-person inspection. 

Mobile apps

On the surface, real estate mobile apps are all about convenience for buyers and renters, giving them easy access to the latest listings and sales information on their smartphones. Real estate apps showcase all available properties under one search result, with the option to filter results based on individual preferences. Rather than having to individually check the properties being listed by various agencies, customers can view them all via an easy-to-use interface. 

But aside from customer convenience, real estate mobile apps are also an effective means for real estate companies to understand their customers, based on previous activity. It gives them a rough idea of what the customer is looking for and enables the company to more effectively market similar properties. For example, mobile apps can send personalised notifications to users when properties are listed on their platform that they think the customer may be interested in.

Smart home technology

Another way that technological innovations are transforming the real estate industry is in the realm of smart home devices, which can do everything from increase energy efficiency to play your favourite music with a simple voice command. Smart home technology is basically the remote control of appliances and devices via an internet connection and using a smartphone or tablet. Through an app, users can control temperature, lighting and even home theatre systems, without having to go anywhere near them.

Smart home technology is all about making life more convenient, whether that means your phone “pinging” when the washing machine has finished its cycle or the internet-connected touchscreen on your fridge checking if there is milk at home. But it is also an effective means of monitoring your home security, most obviously via smart cameras. Smart locks can also be implemented to allow select people to access your home when you’re not there (such as house-sitters or cleaners), without the risk of leaving keys under the mat. 

An exciting future of innovation

Real estate technology is a broad term that encompasses many different types of innovations, from property management software to virtual reality experiences and apps that make life easier. What they all share in common is the purpose of making the managing and monitoring of properties easier and more effective. In a world where many people are increasingly looking to apps and online platforms to solve the challenges of day-to-day life, the future of real estate technology looks bright. 

 

Mempool Visualization and Analysis: Insights into Network Activity

The Ethereum network is one of the most widely used blockchain networks in the world, and its mempool is a crucial component for the network’s health. The mempool is a data structure that stores all unconfirmed transactions on the network, waiting for miners to validate them and add them to the blockchain. The eth mempool  is a valuable source of information for understanding the network’s activity, congestion, and transaction patterns. In this article, we will explore the benefits of mempool visualization and analysis, and how it can provide valuable insights into network activity.

Visualizing Mempool Data for Transaction Patterns and Trends

Mempool visualization is a powerful tool for understanding transaction patterns and trends on the Ethereum network. By visualizing the data stored in the mempool, users can get a real-time view of the network’s activity and identify bottlenecks and congestion points. Visualization tools like mempool.space and Etherscan provide users with real-time data on the number of transactions waiting to be confirmed, the gas price of each transaction, and the estimated wait time for each transaction to be validated.

Mempool visualization can also provide insight into transaction patterns and trends. By analyzing the size and frequency of transactions, users can identify specific use cases for the Ethereum network, such as DeFi transactions, gaming transactions, and NFT trades. Additionally, mempool visualization can help users identify spam transactions and other anomalies, which can impact network performance and transaction validation times.

Analyzing Mempool Metrics for Network Health Assessment

Mempool metrics provide a wealth of information about the health of the Ethereum network. By analyzing metrics like the number of transactions in the mempool, the gas price of each transaction, and the average confirmation time, users can gain insight into the network’s congestion and performance. Mempool metrics can also help users identify specific issues that may be impacting network performance, such as high gas prices, low transaction throughput, or network congestion.

Analyzing mempool metrics can also help users make informed decisions about transaction fees. By monitoring the gas price of transactions in the mempool, users can adjust their gas fees to ensure their transactions are confirmed quickly and efficiently. Additionally, mempool metrics can help users estimate the wait time for their transactions to be confirmed, allowing them to make informed decisions about when to send transactions and how much gas to include.

Transaction Backlogs and Mempool Congestion Analysis

Transaction backlogs and mempool congestion can have a significant impact on the performance of the Ethereum network. When the number of transactions waiting to be confirmed exceeds the network’s capacity, transaction validation times can increase significantly, leading to higher transaction fees and slower transaction throughput. Analyzing transaction backlogs and mempool congestion can help users identify specific issues that may be impacting network performance and take action to address them.

One approach to addressing transaction backlogs and mempool congestion is to increase the network’s capacity by upgrading its infrastructure. This can include increasing the block size, optimizing the validation process, and improving network nodes’ performance. Additionally, users can adjust their gas prices and transaction fees to encourage miners to prioritize their transactions, improving the confirmation times and reducing the wait time for transactions to be validated.

Predictive Models and Forecasting Techniques for Mempool Behavior

Predictive models and forecasting techniques can help users anticipate mempool behavior and make informed decisions about transaction fees and gas prices. By analyzing historical mempool data, users can identify patterns and trends that may impact network performance and transaction validation times. Additionally, predictive models can help users estimate the wait time for their transactions to be confirmed and adjust their gas fees accordingly.

One approach to predictive modeling and forecasting is to use machine learning techniques to analyze historical mempool data. By training machine learning models on past mempool data, users can predict future network activity and identify specific issues that may impact network performance. Additionally, machine learning models can help users estimate the wait time for their transactions to be confirmed and adjust their gas fees accordingly, reducing the wait time for transactions to be validated.

Conclusion

Mempool visualization and analysis can provide valuable insights into network activity, congestion, and transaction patterns. By visualizing mempool data, analyzing mempool metrics, and using predictive models and forecasting techniques, users can make informed decisions about transaction fees and gas prices, ensuring their transactions are confirmed quickly and efficiently. As the Ethereum network continues to grow and evolve, mempool visualization and analysis will become an increasingly critical tool for maintaining network health and performance.

Businesses struggling to monitor and report on key sustainability metrics

Businesses in Ireland are currently struggling to comprehensively measure, monitor and report on the range of metrics that they contribute to as part of the energy transition and in taking positive climate action.  According to new independent research* conducted on behalf of clean energy supplier, Pinergy, by iReach, 27 per cent of SME’s, employing less than 100 people, do not currently have any tools for effectively measuring, monitoring and reporting their consumption/contribution when it comes to energy, waste, water, air quality and carbon footprint.

The research also highlighted the top three actions businesses are citing to take in reducing their carbon footprint in 2022 are a focus on reducing electricity waste (43 per cent), reducing landfill waste and increasing recycling (40 per cent) and reducing water waste (34 per cent).

Despite a growing demand and trend among businesses to play their part to become more sustainable, without the tools to monitor and measure their contributions, many will continue to struggle to effectively manage and implement these stated actions and targets. 

In response, Pinergy has now developed a new measurement as a service proposition whose aim is to make measurement and reporting accessible to all businesses regardless of size with their simple to use technology.

Through this new service, Pinergy will give businesses the ability to measure the performance of their premises or buildings under various metrics.  The objective is to ensure that ‘what gets measured, gets managed’. Pinergy will install a series of meters and sensors in the building of its customer, that will enable the business to measure electricity & gas usage (regardless of supplier), water usage, waste usage (with select waste companies) and most timely of all, the quality of the air in their buildings.

In terms of measurable performance indicators, Pinergy will be able to offer businesses real time data, automated reporting, target and benchmark settings, carbon reporting and various other sustainability measurements across each of the categories covering energy, water, waste and air quality. For Property Management firms in particular this information can really help in delivering on key ESG goals.

Companies are already using Measurement as a Service to streamline their reporting; John O Donovan with the JLL Management Agent team at The Tio North Dock One & North Dock Two building in Dublin said: “This is a service that is very important to us, for monitoring energy and utility usage which reduces cost and saves time by bringing together a number of different reports into one portal.” 

Commenting on this latest development for Pinergy, Colm Foley, Channel Manager, Business, said: “At Pinergy, we are constantly looking for new ways that our customers can make the most of not only their energy usage but how they can most efficiently manage their buildings and premises. Not only can we now give our customers the ability to measure sustainability KPIs such as their carbon footprint, but we can also show how well utilities such as Electricity, Gas and Water are being used across their property portfolio.” 

“Delivering our Measurement as a Service offering is empowering our customers with data and insights to make more informed decisions that are better for the business and better for the environment.”

* Research was conducted nationwide as part of the iReach Business Decisions Omnibus Survey Q1 2022. Over 200 SME businesses responded to the survey, delivering a high level of statistical accuracy.