The data that is treasure

The essence of the program is to present commercial premises owned by local governments or private individuals in a way that is accessible to everyone in a database, aided by a map-based search tool. Additionally, the program provides up-to-date, reliable demographic and market data regarding the local environment of the properties (e.g., population size, purchasing power, competitors, etc.), which supports entrepreneurial decision-making.

We asked Attila Antal, the director of BUM, about the importance of data and analyses, as well as their utilization.

What kind of data do you collect in the Kibérelém.hu program?

Primarily economic data related to businesses, sourced from public, open sources, such as the scope of activities of companies, number of employees, and significant financial data. Additionally, key operational data, purchasing power, demographic information, as well as knowledge related to the location of businesses (changes in vacant and operational premises) are also part of the collection and analysis.

What can you do with this data?

We use it partly for the operation of Kibérelém.hu and the analyses available on it, helping businesses looking for premises, but beyond that, we can also observe trends and make suggestions for, for example, local governments.

Could you give an example of this?

At the end of last year, we developed a value proposition for the 23 districts of Budapest, showing how the aforementioned economic facts and their relationships (number and distribution of businesses, or purchasing power) changed and what conclusions can be drawn for the respective district. Moreover, based on this, suggestions can be made regarding where government intervention would be necessary for a given district to be as livable as possible for locals and businesses. Of course, in the material, we also highlighted the usefulness of Kibérelém.hu beyond this, to our other operational area, which supports businesses in shopping and thematic streets and builds an entrepreneurial community.

What was the reception of these value propositions?

Overall, it was positive, and we received useful research suggestions for the future. We have already consulted with most local governments regarding the material, and some were surprised by the connections that can be derived from such types of data and found it very useful. At the same time, our belief that the Kibérelém.hu program should be expanded towards complex property utilization received confirmation. We are currently working on this.

What is your overall opinion of your data collection activities?

That it is extremely important. And it's not just the administratively accessible data, but also the feedback from consultations or the need for collecting additional data types. Furthermore, it is necessary to repeat analyses from time to time to track the changes that will be the basis for future decisions. Today, the information content of our data set comparing municipal cycles is extremely exciting and insightful. Recognizing, processing, and publishing trends is a perpetual cycle, a process.

Previously published articles:

You can read the first article HERE! BUM beginnings, or why did the Budapest Chamber of Commerce and Industry decide in 2013 to establish the Shopping Street Management?

You can read our second article HERE! BUM Behind the Scenes: Thematic streets provide a vibrant yet livable local environment

You can see the third article HERE! BUM: Effective help for SMEs is the communication support we provide!

You can view the fourth article HERE! Kibérelém.hu: The largest selection of rental business premises in Budapest

You can find the fifth article HERE! Everything revolves around the event, or what is one of BUM's most important activities?

You can read the sixth article HERE! SlowXmas in Budapest: commitment to culture, the arts, and deceleration

You can view the seventh article HERE! Short introduction to Shopping Street Management

You can read the eighth article HERE! The role of Shopping Street Management in practice-oriented higher education training – cooperation with Budapest Business School

You can find our ninth article HERE! The key to development is to respond flexibly to changes

You can read our tenth article HERE! The celebration of creativity – the journey of the BUM Workshop Festival from idea to realization