Metaverse in Real Estates (Case Study Sample)
Business case study:
The metaverse will revolutionise the way real-estate operates. Not only changing the way real land and property is bought and sold, but also what is sold. It is now possible to buy and sell land in the metaverse, i.e. virtual land.
Regarding both real and virtual land, you are now able to see inside houses and view land virtually from your own house. Immersive 3-dimensional real-estate tours allow you to make sense of complicated floor plans and check out interesting features of properties for sale. Adapting this to your local area Imagine that you have been asked to lead the following feasibility project. A small team of analytics specialists are to collaborate with their local real-estate firms and virtual property firms to see if it is possible to make these opportunities available to persons living in your region.
The main aims of the project are A) to determine if there is demand for the 3-D tours of real land and property, and B) if there is a demand for virtual land. Part of this may involve determining if people are able to afford or get access to the augmented reality glasses (headsets) required for the tours or if the real-estate agents could supply them.
Given this background, work through the questions in the case study instructions below.
Source: https://bernardmarr.com/how-the-metaverse-will-shake-up-the-real-estate-world/
Case study Instructions
1. In a short paragraph, introduce the project and define the three business questions in your own words. [200 words, 3 marks]
2. Set three relevant KPI’s for the project. These should be related to the business questions, and may be concerned with timelines, data collection and analyses. [150 words, 3 marks]
3. Draw a potential business process flow chart for the project. [2 marks]
4. Write a paragraph describing how the waterfall project methodology could be applied to this project. [300 words, 5 marks]
5. Write a paragraph describing how one of the newer Agile/Hybrid project methodologies (Scrum, Kanban,etc.) could be applied to this project. [300 words, 5 marks]
6. Suggest why some of the methods may fail in this case and which method you would recommend as the best for the real-estate project. [250 words, 5 marks]
7. Describe possible issues you may encounter as analytics meets project management. (100, 3 marks]
8. Find at least five supporting references for your report. List the references in Harvard format.
Structure your work as a report. [2 + 2 = 4 marks]
Evaluating Metaverse in Real Estates
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Introduction
Metaverse can help streamline the real estate industry by providing a secure and efficient way to manage property transactions. By using Metaverse, buyers and sellers can connect and transact directly with each other without the need for intermediaries, which can often be costly and time-consuming. In addition, Metaverse offers a tamper-proof record of all property transactions, which can help to prevent fraud and ensure the accuracy of data. Ultimately, Metaverse has the potential to make the real estate industry more efficient, transparent, and secure. What are the demand needs of having 3D tours of real land and property? Real estate is becoming more and more expensive (Brooks, and Tsolacos, 2010).
As a result, many people are looking for ways to get into the market without breaking the bank. 3D tours of real land and property can provide would-be buyers with a way to see what is available without having to spend money on travel and lodging costs. If there is demand for virtual land, is metaverse required in real estate? Metaverse is not required in real estate, but it can be a valuable tool. Virtual land can be used for many different purposes, including: storing data, developing applications, or creating online communities. While metaverse may not be required for these activities, it can certainly make them easier and more efficient. What role has immersive XR Real Estate Tours played when it comes to metaverse? This involves eliminating the big hassles of house hunting, trying to make sense in terms of confusing the flow plan, driving grounds and wasting more time looking for houses that aren’t fit. This has allowed clients to contour houses from the comfort of their houses (Brooks, and Tsolacos, 2010).
Three KPI’s
The project management metrics are helpful in the world of real estates in terms of delivering the required results and demonstrating the projects maturity overtime. The performance metrics need to be measurable, clear, supported by real data and simple to ensure that the process management process is supported effectively (Lehavy, Li, and Merkley, 2011). Lag
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