In the realm of data transformation, Saudi Arabia is making significant strides. This advancement is evident in the operations of the General Authority for Statistics (GASTAT), which is actively engaged in various surveys and censuses to extract valuable insights from raw data.
During the Future Real Estate Forum held in Riyadh, GASTAT’s president, Fahad Al-Dossari, discussed the progressive changes in their analytical methods.
Al-Dossari emphasized the shift in their approach, “Our recent statistical products have been centered on diversifying data sources. Surveys remain a crucial foundation for our work at GASTAT.”
He pointed out the growing reliance on existing datasets from both governmental and private entities.
In an effort to promote transparency, Al-Dossari mentioned, “We now disclose the methodologies behind our figures. This transparency allows researchers and other interested parties to fully grasp how the data is produced.”
Al-Dossari provided insights into the nationwide census in Saudi Arabia, noting the discovery of 12.4 million housing units, 8.2 million of which were designated as residential.
The census showed that residential units make up 65.79 percent of all structures, while commercial units represent only 6.27 percent, summing up to 779,261 units.
Originally scheduled for 2020 but postponed due to the COVID-19 pandemic, the comprehensive census took place in May 2022. This census, the fifth in Saudi history, employed state-of-the-art international methodologies, including satellite technology and self-enumeration techniques.
To verify the precision of the data collected, GASTAT utilized error detection and automatic correction methods, involving over a million telephone calls, nearly 900,000 field visits, and the application of sophisticated analytics and statistical procedures.
Five distinct data sources were compared, and over 200 indicators were used to cross-check the information for accuracy.
Al-Dossari also addressed the indicators that are particularly useful for potential investors, such as property price indices and surveys of structural activities, which shed light on their impact on the Kingdom’s gross domestic product.
He discussed initiatives aimed at providing easily accessible information to foreign investors, including the enhancement of GASTAT’s existing platform.
Al-Dossari underscored the importance of cross-sector collaboration for successful statistical developments.
He concluded by mentioning a current thorough survey of economic establishments in the Kingdom, with plans to visit approximately one million establishments. This project is set to provide expansive and detailed data, further enriching the statistical landscape in Saudi Arabia.