CoreLogic (NYSE: CLGX), a global property information, analytics, and data-enabled services provider, has introduced a new land records management solution that is the first single source of location information and property characteristics data for the oil and gas, utilities, and telecommunications industries. SpatialRecord by CoreLogic integrates CoreLogic parcel-level spatial data with the company’s vast property-level database to provide expanded data analysis and more granular information.
The patented technology used to create SpatialRecord technology converts raw data into easily digestible information that can be leveraged to make more informed exploration, planning, serviceability, and compliance process decisions. SpatialRecord appends and normalizes location information and property characteristic data that is often otherwise dispersed across a variety of sources so that it’s ready for client use quickly and without further analysis required.
“Whether managing field infrastructure, planning the path of a new transmission line, or managing legal compliance and risk, it’s vital for oil and gas, utility, and telecommunications companies to have access to complete information to make critical decisions quickly and accurately,” said Jay Kingsley, senior vice president for CoreLogic Spatial Solutions. “This integration of location information and property-specific data, combined with the quick turnaround and comprehensive front-end analysis, puts crucial information at users’ fingertips, reducing the time and resources required and allowing a greater focus on core business activities.”
SpatialRecord provides highly granular data that is updated daily from more than 4,700 sources on 99% of properties throughout the US. In addition to combining the data sets into a single, ready-to-use resource, the expanded integration of CoreLogic spatial and property-level data includes:
- Land property use, along with the actual and effective year a structure was built on the property
- Land, structure and property valuation and tax information
- Property and structure area
- Construction and structure details, including specifics on the type of foundation, roof covering used, the number of bathrooms, and the number of fixtures in each
- Mailing addresses that coincide with site addresses, which can help prevent delays and mistakes in compliance processes and communications
- Both first and last names of primary property owners, as well as first and last names of secondary property owners, to increase accuracy in identifying and communicating with land owners
“Combining the most granular property characteristics with parcel-level accuracy not only saves time and money, but also improves efficiencies in the complex processes of planning, exploration, and compliance,” Kingsley said. “And the benefits extend to land and property owners as well. With a more comprehensive record of a property in hand, these companies are better positioned to work more effectively, minimize errors or disruptions, and provide a higher level of service to individual land owners.”