Samma Keetsin

Director and Independent Director, Sena Development Public Company Limited
 

In today's era, the consumption of data comes from a multitude of sources, more than in the past. However, not all of this data is beneficial for its users. Real estate data is another type of information that must be used with caution.

Real estate data is diverse and can be categorized by property type, such as residential or various commercial properties, and by different dimensions such as demand, supply, price, region, taxes, policies, or measures, etc. Numerous datasets are published by various organizations, both private and public, domestically and internationally.

To build knowledge in real estate, we must start from the beginning, which is having data or raw data. This could be a single dataset or multiple datasets. When these datasets are analyzed to create relationships, they become information, which can be represented in tables, line graphs, bar graphs, pie charts, or various infographics.

Subsequently, if this data and information are written or communicated through various media, whether traditional print or social media, it expands the content to be understood in a broader context. We refer to this as knowledge, which those who utilize it must apply their experiences and other knowledge to develop or enhance it, leading to wisdom that results in a better understanding for effective planning.

When utilizing data, information, or knowledge related to real estate, we must pay attention to the source of the data, determining whether the organization publishing the data is a primary source or a secondary source that processes data from the primary source into information. This consideration is to assess the credibility of the data, information, or knowledge, ensuring it is reliable. It may also be necessary to compare it with at least 2-3 other sources to verify the information.

Another aspect to consider is the time dimension, examining the date of the news and delving into when the data, information, or knowledge was provided. In many cases, over time, the real estate data, information, or knowledge may no longer be accurate, such as changes in tax rates, interest rates, public transport developments, urban and demographic changes, etc. Additionally, there may be non-natural causes at different times, such as natural disasters, floods, pandemics, or political and economic events both domestically and internationally that can alter the data. Therefore, those publishing real estate data, information, or knowledge should note these limitations, and those utilizing this data must be observant and question significant deviations in the figures.

The scope of real estate data collection can also lead to discrepancies in data, information, and knowledge. For example, some sources may focus on data collection in only Bangkok, while others may cover the metropolitan area or even the entire country. Thus, it is essential to disclose and understand the geographical scope of the data.

Furthermore, those utilizing data, information, or knowledge from various sources may need to verify it themselves by randomly checking the data and information whenever possible.

Using data, information, and knowledge related to real estate, especially from articles, writings, and news, requires mindfulness and caution. One must know the source, the people involved, the timing, and the context, and verify the information rather than just reading headlines or introductory sentences. Otherwise, misinterpretation may occur, leading to a lack of true wisdom.