A PLATFORM FOR DATA
Designed to make real estate evaluation a piece of cake, LayerCake’s interactive and proprietary software ‘layers’ all of the key data required to make smart real estate decisions. Here, RLI sits down with CEO Liz Holland to discuss how the project began, to learn more about its capabilities and what it offers users.
Necessity is the mother of invention and it is no different with LayerCake. The brainchild of company President Joe Sauer and Chief Technology Officer Kyle Mclean, three years ago the duo realised that the old way of analyzing retail real estate with paper books and static, outdated information was obsolete. LayerCake has been created to change all this and developed to make it simple to analyse a market and potential sites in a market against each other, using a wide variety of custom datasets that become predictive of the success of a particular site.
“We officially launched in January and as CEO of Consortial Technology, which owns LayerCake, I oversee our growth strategy and identify partners and data sources that continue to make the user experience a rich and relevant one,” explains CEO Liz Holland. “After 20 years in the retail real estate business, I know first-hand how this app streamlines the site selection process and allows everyone working on a decision to easily collaborate in real-time.” The LayerCake app is a customisable, paperless platform that clients use in precisely the way they are interested in seeing it. The past year has taught the people behind the app that a lot of current and prospective clients all want to use the app for the same reasons. For example, to see drive time maps by time of day and day of week and day of month. To date, the level of interest in LayerCake has been fantastic, with everyone agreeing it’s time to make the time-consuming and cumbersome real estate site analysis process a thing of the past.
As well as an analysis platform, LayerCake is an organisational platform that supports a collaborative team environment. Its fully interactive maps with custom data visualisation and proprietary datasets allow users to view site viability from a variety of perspectives quickly and simply from an iPad or Android device. Users can work with updated materials in real-time, conveniently share them, and view high function concepts with built-in presentation toolsets.
Holland feels that social media is a key snapshot of what people are doing at a specific moment in time. “There are a couple of datasets that use key words to produce high level “narratives” of what a larger group of people are saying right now about a particular topic/product/store.” While LayerCake is yet to find the perfect one, they will keep on looking until they do, or simply create it on their own.
Sustaining lasting relationships is pivotal for any company, and again LayerCake is no exception. The main reason they do not price the app by the “user” is because they want the app to be used and shared by as many people as possible. The company is continuously getting feedback on what people would like to see added to further enrich the interface. Liz and the team consider clients their partners and the more feedback they get, the better LayerCake will be, and it is this dynamic that will create a strong alliance with its clients.
“There is a lot written about the current data revolution, less is written about how to separate relevant data from irrelevant data. We truly believe that we are right at the beginning of what will be a transformational change in how everyone in the real estate business analyses a real estate location. LayerCake makes using the data we can glean today – as well as all future datasets to come – easy.”