Database Management System for Commercial Property Data Verification
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Solution Overview
Problem
Current methods for maintaining commercial property data in databases are time-consuming, expensive, and prone to errors, as they rely on periodic phone calls to gather information, which can be hesitant to share due to competitive concerns, and lack incentives for owners/managers to keep data current.
Innovation Solution
A system and method that encourages data owners/managers to update commercial property data by offering services after verification, using a networked system with database management, data verifier, and user devices, allowing access rules and service provision for maintaining accurate data through user accounts and electronic messaging.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If periodic phone calls are used to maintain data current, then data can be updated, but the process becomes time-consuming and expensive
Solution Approach 1:
The system enables data verifiers to automatically update their own data by submitting verification requests through the platform. Property owners and managers independently maintain their own data records by logging into their accounts and submitting updates, eliminating the need for external phone calls and manual data collection processes.
Solution Approach 2:
The database management system acts as an intermediary platform that facilitates data verification between property owners and data users. The system mediates the verification process by providing a structured interface for submitting data, automatically matching verification requests with appropriate data verifiers, and managing the exchange of information without requiring direct phone contact between parties.
2Reliability
If data owners are asked to provide information, then data can be updated, but they may be hesitant due to competitive concerns
Solution Approach 1:
The database management system serves as a trusted intermediary that protects the confidentiality of competitive information. Property owners can submit data through secure accounts without direct exposure to competitors, as the system controls and manages the verification process privately, reducing hesitation caused by competitive concerns.
Solution Approach 2:
Property owners maintain control over their own data by using self-service accounts to submit updates independently. This autonomy allows them to share only the specific information they choose to verify, maintaining competitive advantage while still enabling data currency through their own controlled disclosure.
3Productivity
If services are offered to encourage data updates, then participation increases, but system complexity increases
Solution Approach 1:
The database management system provides multiple functions within a single unified platform: user account management, verification request submission, data storage, and service provision. This multi-functionality encourages participation through integrated services while managing complexity by consolidating features into one system rather than separate components.
Solution Approach 2:
The system implements feedback mechanisms where property owners receive confirmation when their data verification requests are processed successfully. This immediate feedback encourages continued participation and updates by showing users that their actions have tangible results, increasing data update frequency without requiring complex incentive structures.
Data Source
AI summary
A method and a system for maintaining current data in a database is provided. The method includes sending a request to verify the accuracy of a data item to a data verifier, the data item selected from a set of data items, and the data verifier associated with the data item, receiving a response from the data verifier, the response indicating that the data item is verified, and providing a service to the data verifier after receiving the response. In an exemplary embodiment, the service is a free report including rental rate comparisons for a plurality of real estate properties.