Over the past few decades, I’ve developed an increasingly keen interest in studying the role that certain policies and analytics technologies have played in influencing the economic health and well-being of Latin America’s many different economies.
Of course, the region has experienced quite a bit of upheaval during that time — not to mention the widespread disruption that has taken place over the past century – and, in many cases, any ongoing upheaval can be either directly or indirectly attributed to specific economic policy measures.
Due to its history of widely varied and relatively unique economic practices and policy measures, Latin America is a particularly fascinating case study when it comes to land development. This includes the potential role that predictive analytics can have on this niche.
Predictive analytics tools have achieved an impressive level of sophistication, enabling dynamic and detailed analyses based on the full range of information available, making them an ideal fit for land development companies.
An Untapped Opportunity
Given the wide variances in policy measures that have extended back several decades and influenced local and national economies throughout Latin America, it appears quite likely that the use of predictive analytics offers a wealth of opportunities to help ensure positive economic outcomes benefiting people throughout the region.
During my time in the industry, I’ve always emphasized the value of examining the full range of the potential impacts generated by a particular land development project, including analyses on the short- and long-term economic impact on the region. In order to accomplish this, I’ve often turned to data analytics tools that incorporate any relevant data to predict a comprehensive range of outcomes associated with the project.
It is my belief that a similar approach can be readily applied for the purpose of predictive analyses within the more underdeveloped areas of Latin America – an opportunity that data analytics vendors, and even software development vendors, should be preparing to seize.
Data Analytics is Essential
With such widespread and increasing outside interest in land development opportunities throughout the whole of Latin America, it will be interesting to determine how certain market-oriented policy measures and reforms — including land banks, for example, or even individual land titling — have influenced local and national economies in the past, and also how those policies might influence the outcomes generated by any future land development efforts. The same is true for other policy measures, including, for example, re-distributive land reforms or sustainable land use and development.
Anyone who has conducted even a cursory examination of the rural regions of Latin America recognizes the potential associated with the land development opportunities as they currently exist, but a more in-depth analysis is still necessary to ensure any future land development projects are executed in a way that yields economic benefits for anyone in the region who might be affected in one way or another.
It is for this reason that it remains necessary to utilize thoughtful, detail-oriented assessments that rely on research, consider past policy outcomes, and incorporate predictive analyses capable of considering the total impact of a land development project undertaken within the region.
It is all too easy to be blinded by excitement over the mere existence of such a unique and potentially valuable opportunity, and surely there are many land developers outside of Latin America ready to leap at the chance to undertake a land development project in the region as soon as possible.
If State-side companies begin to recognize this opportunity in Latin America, you can be sure they’ll be looking for Nearshore vendors to develop the tools to achieve it.