Cognitive Automation of Real Property Management Processes

Dariusz Nowak-Nova

doi:10.23762/FSO_VOL12_NO1_6

Published : 2024-03-31

Vol. 12 No. 1 (2024)

Cognitive Automation of Real Property Management Processes

Dariusz Nowak-Nova

https://orcid.org/0000-0001-6073-1196

DOI: https://doi.org/10.23762/FSO_VOL12_NO1_6

Abstract

The article discusses the possibility of using Automated Valuation Models (AVM), enhanced with technologies such as machine learning algorithms and artificial neural networks, for cognitive processing in the field of Facility Management. Experiments verifying the behaviour of a cognitive inference machine in the processes of operational real property management were described. The focus was to assess the functioning of decision service algorithms induced by automated inference engines which operated in the context of general information about real property. The research results confirm that the cognitive perspective, combined with advanced technologies, brings significant benefits. AVMs supplemented with cognitive technologies are able to dynamically react to varying market conditions and real property characteristics. The key aspect of the cognitive approach is that it eliminates the constraints related to different input states and lack of information, which increases the flexibility and efficiency of the processes of operational real property management. This means that real property managers can make more informed decisions while also saving time and resources. The conclusions drawn from the research confirm the importance of using modern technologies in Facility Management and open up new perspectives for the automation of management processes.

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Nowak-Nova, D. (2024). Cognitive Automation of Real Property Management Processes. Forum Scientiae Oeconomia, 12(1), 118–138. https://doi.org/10.23762/FSO_VOL12_NO1_6

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