Predictive Analytics as the Future of Proptech: an Interview with Gleensite

What comes to mind when you think about AI or predictive analytics? Hot trends in IT and technologies that will shape our future? Or probably you think it’s something very complex and unavailable for the use of a wide audience?

And what comes to mind when you hear the words “real estate”? An industry that often uses dated technology despite constantly growing demand and popularity?

Gleensite is the company that dared to combine these two things with the aim of potentially simplifying the lives of people worldwide and improving the state of the real estate sector. Daniel Kagane, Alejandro Garcia Manic, and Nacho De Las Heras, partners in this venture, kindly agreed to answer our questions and share their views on technology, real estate and the future of proptech.

About Gleensite

Let’s get to know your company. What is the main idea of Gleensite?

Daniel Kagane:

Our dream is to let people worldwide raise their consciousness, take more control of their destiny, and move towards their dream future. We believe that despite what people might think, there is not so much randomness in life. There are invisible threads that connect everything, and we want to make them more visible.

That is why the main idea behind Gleensite is to provide accessible and easy-to-use self-service predictive analytics through mapping software.

So we give organisations across all sectors an opportunity to get actionable insights to make enlightened decisions.

And then this idea motivated and inspired you to create the company?

Daniel Kagane:

Currently, powerful predictive analytics tools are only available to a few large and very resourceful organisations. Our goal is to rebalance the power by giving access to these tools to the wider population.

So we started working on the technology in 2018 and launched the company in late 2019 with that ultimate vision in mind. 

Alejandro Garcia Manic:

Gleensite is ultimately a technology and data company. With the vision Daniel previously mentioned, we decided to materialise that in a specific sector as a starting point, and we chose to focus on real estate. The reasons were the global smart city initiatives we were seeing and the rise of the PropTech sector as a cry for change in an old-fashioned industry that was coming up short on technology. So we combined our individual experiences in the financial, tech, and operations’ world with the demand we saw in this sector and concentrated on the field of real estate.

What are the strengths of your company? What makes Gleensite unique?

Alejandro Garcia Manic:

The ability to combine data collection, data processing, and visualising the outputs, both of past-present and future scenarios, all in one unified platform is our main strength as no other player on the market has this approach. We as well aim at breaking the territorial barriers to offer our services globally. In addition to that, the applications of this technology are cross-vertical, meaning we can and will focus on other segments in the future, such as healthcare, retail, or cybersecurity.

Please, explain your approach and usage of predictive analysis.

Daniel Kagane:

Nowadays, a common pitfall is to reduce predictive models to too few variables or non-causal correlations. Spurious correlations are very common in many models, whereas correlation does not imply causation. This obviously leads to unreliable outcomes in the long term. Aware of this fact, we are trying to take predictive analytics to a new level by basing it on a substantial number of variables considered holistically at different scales of space and time. We are convinced that everything is connected, and we are determined to understand the causal links between all past events to more accurately anticipate potential future events.

Predictive analytics only makes sense in a given space-time frame of reference. This is why we decided to use a map as the main visualisation mode with the ultimate goal of providing an intuitive interface that will enable our users to travel through space and time virtually. We are using 2D maps, but we consider 3D and AR/VR to make the experience more immersive.

Predictive Analytics in Real Estate

What is the market appetite for tools like Gleensite?

Alejandro Garcia Manic:

Predictive analytics is increasingly attracting the attention of a wide range of organisations. According to some market research reports, the global predictive analytics market size is expected to grow from $7.2 billion in 2020 to USD 25.2 billion by 2026.

Furthermore, the pandemic has accelerated the adoption of new technologies. According to a recent McKinsey survey, businesses have spent more on digital investments than on any other business continuity measures during the pandemic. Consequently, growth in digital tools and systems has jumped ahead by an average of seven years in just a few months of 2020.

The Global Predictive Analytics Market

You mentioned that real estate is your main focus at the moment. Tell us more, please.

Daniel Kagane:

Through deep analysis of conventional and non-conventional data points, we can identify emerging trends from cross-continent to the neighbourhood level, pinpointing the areas that are about to take off while avoiding potential downturns. This is how we help our clients understand the impact of different variables. For example: prioritise investments, identify opportunities, highlight any concerning signals and reveal hidden risk factors or visualise how a region, area, country, city, or street may evolve in the next 5 to 15 years.

How Gleensite Changes Proptech

How does Gleensite work for real estate companies? 

Alejandro Garcia Manic:

Real estate companies and investors have traditionally relied on a combination of intuition and knowledge of the local market. However, this is no longer always enough to make the right decisions at the right time, identify opportunities, and not leave money on the table when the timing is critical.

More so, in a modern globalised world where everything is interconnected, having the ability to see and understand the correlations and causal effects between different data points can make a big difference. For instance, that’s what may distinguish a forward-thinking, agile, resilient, and successful company from one that is merely trying to keep up with the trends instead of being ahead of them.

In your opinion, which Gleensite’s features are most important for real estate companies?

Nacho De Las Heras:

Many real estate companies just want basic data visualisation, but more and more are interested in predictive capabilities. However, they often have doubts about the reliability of the forecasts, and we fully understand that. That’s why we apply state-of-the-art upstream processes to massively and continuously collect data while always ensuring quality.

Then we apply adaptive and modulable predictive models using machine learning algorithms and let the end-user understand the models we use to avoid the black box effect. Finally, we enable end-users to visualise insights with confidence intervals on a real-time updated mapping platform. 

Our platform’s predictive capabilities and level of autonomy are growing and improving with time. Because we are using the so-called Causal AI framework to distinguish signal from noise, we are able to identify better which levers explain the real estate sector performance.

What do you think about trends in predictive analytics? What is your prediction for data-oriented tools on the PropTech market? How will AI change the PropTech industry for the next 2–3 years?

Nacho De Las Heras:

I’ve read an interesting article written by Steven Johnson — he does a deep dive into the concept of the human brain as a time traveller. He describes that looking into the future has always defined humanity and ponders whether AI will become the best crystal ball of all.

I agree that these tools are headed our way and that in the coming decade, many of us will draw on the forecasts of machine learning to help us understand and make all kinds of life decisions. These enhancements could well turn out to be the next leap forward in the evolution of the Homo Prospectus, as he poses it, allowing us to see into the future with more acuity — and with a more nuanced sense of probability — than we can do on our own.


To find out more about Gleensite and their solution, visit their website Gleensite.com

Gleensite