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Remote valuations: Valuing and the Cloud

Remote valuations: Valuing and the Cloud. Dr Lucy Cradduck , Lecturer, QUT API NSW Country Conference 4-5 May 2012, Newcastle. 1. Context. ABS, 8153.0 - Internet Activity, Australia, Dec 2012  Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 09/04/2013

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Remote valuations: Valuing and the Cloud

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  1. Remote valuations: Valuing and the Cloud Dr Lucy Cradduck, Lecturer, QUT API NSW Country Conference 4-5 May 2012, Newcastle 1

  2. Context ABS, 8153.0 - Internet Activity, Australia, Dec 2012  Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 09/04/2013 http://www.abs.gov.au/ausstats/abs@.nsf/Products/8153.0~December+2012~Chapter~In+this+issue?OpenDocument 2

  3. Context • Increased use of telecommuting generally • (ABS, 2010) • Positive flow on effects of telecommuting for employers, employees and society generally • (Deloitte, 2011) • Increased use of technology in land registries • (Parker, Lockwood & Marano, 2012) 3

  4. Context • Changed office environments • (Cradduck, 2012) • Cost savings • (Armbrustet al, 2009) • Changes how people access education • (Cradduck, 2012a) 4

  5. Impact for valuation firms • Supports increased use of valuation software from the field • Estate Master • Property Pro • Value Pro • Increased telecommuting workforce • (Ruthven, 2012) 5

  6. Impact for valuation processes • Increased output • (Kummerow & Chan Lun, 2005) • Data only needs to be entered once • Easier access to ‘old’ files for comparison purposes • More timely and accurate report provision • (Wyatt, 1996) 6

  7. General concerns • Security issues of home offices • (Thornton, 2012) • Telecommuting not suitable for all work or all workers • Lack of consistent broadband service • (Cradduck, 2011) • Inconsistency of access skills • (Cradduck, 2012a) 7

  8. Valuation specific concerns • IT cannot by itself produce valuation reports for all properties • (Lenk, Worzala & Silva, 1997) • Data only needs to be entered once • Unskilled use of software by consumers • Specific training required • (Parker & Robinson, 2002) 8

  9. Cloud specific concerns • Security issues • (Ponemon Institute, 2011) • Audit issues? • Where is the server located? • Government ‘oversight’? • Or is that intervention???

  10. Contact Details Dr Lucy Cradduck Faculty of Law, QUT, Brisbane, Qld l.cradduck@qut.edu.au +61 7 3138 4022 10

  11. References ABS (2010) ‘Flexible Working Arrangements in Queensland’, Australia Bureau of Statistics, October 2010, 6342.0.80.0025 Armbrust, M., Fox, A., Griffith, R., Joseph, A., Katz, R., Konwinski, A., Lee, G., Patterson, D., Rabkin, A., Stoica, I. and Zaharia, M. (2010) ‘A View of Cloud Computing’, Communications of the ACM, Volume 53, Issue 4, 50-58 Cradduck, L. (2011) ‘The Future of the Internet Economy: Addressing Challenges Facing the Implementation of the Australian National Broadband Network’, Professional Doctorate thesis, Queensland University of Technology Cradduck, L. (2012) ‘Place and Space: Community in the Internet Economy and What This Will Mean for Property’. In 18th Annual Pacific-Rim Real Estate Society Conference, 15-18 January, Adelaide, SA Cradduck, L. (2012a) The future of Australian e-learning : it’s all about access. e-Journal of Business Education & Scholarship of Teaching, 6(2), pp. 1-11 Deloitte Access Economics (‘Deloitte’) (2011) ‘Next Generation Telework: A Literature Review’, Department of Broadband, Communications and the Digital Economy, July 2011 Kummerow, M. and Chan Lun, J. (2005) ‘Information and communication technology in the real estate industry: productivity, industry structure and market efficiency’, Telecommunications Policy, Volume 29, 173-190 Lenk, M., Worzala, E. and Silva, A. (1997) ‘High-tech valuation: should artificial neural networks bypass the human valuer?’ Journal of Property Valuation and Investment, Volume 15, Issue 1, 8-26 Parker, D. and Robinson, J. (2002) ‘Property Valuation Software Packages: An Evaluaiton’, Pacific Rim Real Estate Society Conference, 20-22 January2002, Christchurch, New Zealand Parker, D., Lockwood, T. and Marano, W. (2012) ‘Developments in valuation and assessment: an Australian case study’, Property Management, Volume 30, Issue 1, 52-64 Ponemon Institute (2011) ‘The Security of Cloud Infrastructure: Survey of U.S. IT and Compliance Practitioners’, Ponemon Institute LLC, Research Report, November 2011 Ruthven, P. (2012) ‘A Snapshot of Australia’s Digital Future to 2050’, Commissioned Report for IBM Australia, IBISWorld, 14 June 2012 http://www-07.ibm.com/au/pdf/1206_AustDigitalFuture_A4_FINALonline.pdf (accessed 03/08/2012) Thornton, J. (2012) ‘Virtual Reality’, Public Finance, June 2012, 41 Wyatt, P. (1996) ‘Using a geographical information system for property valuation’, Journal of Property Valuation and Investment, Volume 12, Issue 1, 67-79

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