Piloting Data-Driven Real Estate Decisions in Colombo: A Prototype Dashboard for Informed Stakeholder Engagement

Abstract

The real estate sector in Colombo is challenged by fragmented data repositories and a lack of integrated analytical tools, resulting in inefficiencies and suboptimal decision-making by stakeholders. To address these challenges, this research presents the development of a prototype dashboard that harnesses the power of data analytics to offer actionable insights tailored to stakeholder needs. The primary objective of this study is to design and implement a dashboard that enhances decisionmaking processes by providing a unified data visualization and analysis platform. This includes conducting a comprehensive requirement analysis to ensure the dashboard aligns with stakeholder expectations, exploring map-based visualization tools for effective data integration, and applying advanced analytical techniques, such as predictive analytics, to forecast real estate trends Preliminary findings demonstrate the dashboard's effectiveness in visualizing key metrics, enabling dynamic data exploration, and offering stakeholders clear, actionable insights. Initial user feedback indicated the dashboard significantly improves the understanding of market dynamics, facilitating more informed decisionmaking. However, challenges remain, particularly in data completeness and integration, which are critical for the dashboard's functionality and user experience. These efforts will ensure that the dashboard continues to evolve in line with the dynamic needs of Colombo's real estate sector, ultimately leading to more informed and effective decision-making