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Sleepless Rangers Data Automation, AI & ML changes the vision of upcoming industry with the help of CRE Matrix

Posted on 10th May, 2023

In This blog talk about their B2B and B2C business, with CRE Matrix providing subscriptions to clients and Index Tab helping customers...

Sleepless Rangers Data Automation, AI & ML changes the vision of upcoming industry with the help of CRE Matrix

The speakers in the video discuss their real estate data automation system called CRE Matrix, which collects data on residential sales and leases for the last seven years for cities in India, and aims to expand its coverage to other cities while ensuring privacy. They also talk about their B2B and B2C business, with CRE Matrix providing subscriptions to clients and Index Tab helping customers find apartments based on their preferences and the challenges they face in competition and funding. The speakers believe that by using data automation and tools like Index Tab, real estate transactions can be conducted more efficiently and transparently.

1) In this section, the speaker shares his journey from creating a 40-member team in the cost sector to joining Bank of America, and eventually starting his own company, CRE Matrix, in 2017. He talks about the challenges of transitioning from using Excel to using data automation and machine learning tools but highlights the importance of doing so quickly and comprehensively. Additionally, he acknowledges the differences in real estate across neighboring states in India and advocates for a united approach to real estate in the country.

In this section, the interviewer asks the speaker about the two companies he runs: CRE Matrix and Index Tab, and their interconnections. CRE Matrix extracts and converts sale and lease agreement data into intelligence for B2B clients, while Index Tab provides the same data to B2C clients through a mobile app. The two companies are connected by data, and their technology helps buyers and sellers navigate the real estate market, which can be difficult in a country like India where operations, laws, and local languages vary. The team has improved their skills in vernacular language skills, and they use technology to automate data extraction for scalability.

2) In this section, the speakers discuss the challenges of combining human and machine knowledge, specifically when it comes to converting names phonetically using Google's language converter. They also touch on how their company, CRE Matrix, uses data automation, AI, and machine learning to help with decision-making in real estate, which is a hyper-local play. They explain that there's a big difference between running a B2B and B2C business, as B2C is completely faceless and requires the business to be on its toes at all times, making the right decisions.

3) In this section, the speaker discusses the challenges of managing both B2B and B2C brands and how it requires switching mindsets and approaches depending on the audience. They also explain the concept of location data intelligence and how it helps customers understand the market and competition. The speaker shares an example of how their data helped a bank when lending money to a developer by analyzing sales and asset information. Overall, the speaker emphasizes how their company, CRE Matrix, uses AI and ML to provide valuable insights to their clients in various industries.

4) In this section, the conversation revolves around the capabilities of CRE Matrix and how it can help developers in launching successful projects. One example given is the ability to provide insights on the size and layout of apartments that are in high demand, which can help developers determine what units to build for maximum sales velocity. The discussion also touches on the b2c offering of CRE Matrix, called Index Tab, which is an app for users to search for buildings in cities like Mumbai and Bangalore. The name 'Index Tab' is derived from the concept of tapping with one's index finger on a mobile device, and the team hopes to expand its capabilities in the future.

5) In this section, the speakers discuss their real estate data automation system called CRE Matrix, which collects data on residential sales and leases for the last seven years for the cities of Mumbai, Maharashtra, Bangalore, and Pune. They aim to expand their coverage to other cities to provide detailed analysis and help developers sell their properties while ensuring the privacy of individuals. The developers pay them for their services, creating a win-win situation. The challenge they face is to scale up and collect data for more cities across India, but they are confident in their system's efficiency.

6) In this section, the speaker discusses the company’s revenue model. The B2B side of the company involves a subscription-based product that is completely cloud-based and helps clients with selecting properties in different cities. The subscription fee is based on the number of locations being used, and the fewer the locations, the less the discount. On the other hand, the more locations, the less the unit economy, and the higher the discount. Additionally, the company offers consultancy services with a fee that varies depending on the location. The company's current revenue from B2B business is about 80% from subscriptions and 20% from customization.

7) In this section, Abhishek discusses the pricing of their services and the transparency they provide for real estate developers and brokers. He also explains the B2C side of the business, which includes their app, Index Tab, that helps customers find apartments based on their preferences and assists in closing transactions, even helping with interior design and home loans. Abhishek then talks about their funding journey and the challenges they faced in raising money from VCs, having received multiple rejections. Despite this, he persevered and eventually found partners who believed in their vision.

8) In this section, the founder of CRE Matrix and Index Lifestyles talks about how a meeting with a client turned into a multi-hour discussion about the possibilities of expanding into B2C transactions. Having experienced real estate professionals with them has helped them grow their business and compete with established giants. They are looking to expand into more cities, and while they may face competition from existing or emerging rivals, they believe their app and other tools make them unique. They even see the possibility of partnering with their competitors in the future.

9) In this section of the video, the speakers discuss competition and the unique selling proposition (USP) of their company in the real estate market. They mention competitors such as Zapkey, InfoEdge, 99 Acres, and Square Yards, and note that each has its own niche. While Square Yards is primarily a broker, they recently acquired a company for intelligence, but they have not yet used that intelligence to generate leads. The speakers believe that more money and brand presence could bring more success and downloads to their app, but they want to take their time and show success before committing to large investments. They have a team of CEOs and heads of departments focused on different areas, including residential data and digital marketing.

10) In this section, the speaker discusses the different departments and roles within Sleepless Rangers, including a new head of research and consulting and a focus on CRE Matrix for commercial properties such as offices, warehouses, and retail spaces. The conversation then shifts to the speaker's favorite startups, including Home Exchange which solves a big housing problem, and an elusive listing platform that he hopes will be curated with validated data. He emphasizes the importance of data validation and curation for increased confidence in the platform.

In this section, the speaker discusses the potential of data automation and its impact on the industry. They mention CoStar, a legacy data company that is currently trading at a 20x revenue multiple, which could serve as a model for others in the industry. The speaker suggests that transparency is key in real estate transactions and that by marrying data from CRE with tools like Index Tab, transactions can be conducted in a more efficient and transparent manner, providing comfort to buyers and sellers.

11) Sure! In this video, Abhishek also discusses how data automation, AI, and ML are changing the real estate industry. He explains that by using technology, his company is able to analyze large amounts of data to make predictions about the future of the market and help customers make informed decisions. He also notes that these technologies are allowing for more personalized and efficient customer experiences, as well as streamlining internal processes for real estate companies. Overall, Abhishek sees great potential for data automation, AI, and ML to revolutionize the industry and hopes to continue leveraging these technologies in his own work.

12) In this section, Abhishek explains the step-by-step process of his startup, CRE Matrix, to ensure that customers get their final homes. The three broad steps include getting data from the government, advertising to make people aware of their services, and the sales team closing the transaction. Abhishek explains that technology and data play a vital role in transforming the real estate industry in India, and the scaling process can be complex. The host expresses his admiration for Abhishek's company and hopes that the upcoming videos will inspire more people to start their own ventures. Abhishek believes that India and the US are the only countries currently leading in terms of data automation, AI, and ML technologies, and he wishes to leverage these opportunities for the benefit of Indians.

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