PhD Maciej Merkel is a PhD economist and lecturer based in Berlin, with an extensive background in co-founding and managing multiple startups, alongside consulting in commercial real estate transactions. Through these ventures, he has gained valuable industry insights and hands-on experience. Currently, he is the Co-Founder and Managing Director of CREX Capital – a one-stop-shop real estate finance solution that enables faster deal origination, evaluation, and execution. He is responsible for IT, Sales, Market Strategy, and Marketing topics. Additionally, he is a lecturer at the School of Economics and Law and the Fresenius Hochschule in Berlin. His research primarily focuses on exploring the impact of technological innovations in the investment landscape.
How did your journey with science begin?
My journey with science began during my bachelor and master’s studies, when I focused on the areas of management, controlling, and marketing. Receiving a scholarship from DAAD additionally enabled my academic development through a double degree program at the University of Mainz and the Warsaw School of Economics. These studies provided a solid foundation for my further academic career. My scientific interests began to evolve when I undertook my doctoral work on the collaboration between technology companies and banks in the German commercial real estate market. This was a key moment that prompted me to go deeper into analyzing the impact of technological innovations on the investment landscape.
What factors prompted you to decide to go abroad? What were the biggest challenges associated with this decision?
In my case, the definition of going abroad meant returning to Poland. The decision to go abroad was a complex process for me largely stemming from my multicultural experience and strong connection with Poland. Although I grew up in Germany and gained my initial educational and professional experiences there, I have always felt connected to my roots and the culture of my homeland – Poland. By organizing various cultural events promoting Polish culture in Germany I strengthened my sense of identity and connection with Poland. Therefore, when the time to decide on further education came, choosing to study in Poland became a natural step. I wanted to deepen my knowledge and skills in an environment connected to my roots. Additionally, I wanted to take the opportunity to combine my experiences from both cultures and contribute to building bridges between them.
What were the biggest challenges associated with this decision?
The biggest challenge associated with this decision was adjusting to the new educational system and student life in Poland. I had to learn the academic language and new customs at the university, as well as build new contacts and a network of people I could rely on. However, thanks to my determination and the support from both students and professors, I managed to overcome these difficulties and fully benefit from my intercultural experience. I am particularly grateful for the support I received and the experience that is now very valuable in my daily work with students in Germany.
What benefits do you gain from working in an international scientific environment compared to working in Poland?
Working in an international scientific environment brings me many benefits. Establishing contacts with scientists from different countries allows for the exchange of knowledge and perspectives which inspires searching for new solutions. Access to global scientific infrastructure and the ability to publish and present research on the international stage enable development as a scientist and building a reputation. Moreover, working in an international environment supports the development of intercultural communication and collaboration skills, which is valuable both in scientific and business work.
Do you maintain contact with Polish scientific communities?
Yes, I primarily maintain contact with my doctoral advisor. We regularly exchange ideas and analyze current trends in the field.
What are you currently working on and what is the main focus of your scientific research?
Currently, I am mainly researching the impact of technological innovations on the commercial real estate sector with a particular focus on the synergy between technology companies and financial institutions. I focus on analyzing how new technologies such as artificial intelligence and big data analytics are changing investment processes and property management.
What are the latest achievements in your field of research that particularly interest you?
The latest achievements in my field of research that particularly interest me focus primarily on the integration of machine learning and data analytics in various industries, especially in the real estate sector. This development allows for the processing of complex data sets, identification of patterns and making informed decisions. I am soon publishing an article on this topic titled “Die Zukunft entschlüsseln: Wie Datenanalyse im B2B-Immobilienmarkt einen Paradigmenwandel herbeiführt” (Unlocking the Future: How Data Analysis in the B2B Real Estate Market Brings About a Paradigm Shift) which delves into these issues.
The application of data analytics and machine learning offers enormous potential to optimize already existing processes and create new innovative solutions both in the financial sector and in the other industries.
What is your most significant scientific achievement or discovery? Why is it important?
My most significant scientific achievement is completing my doctoral dissertation that involved an extensive qualitative study on digitization and collaboration between technology companies in the real estate sector and banks in the field of commercial real estate financing. This research involved surveying the management boards of leading banks operating in the commercial real estate financing market and the founders of PropTech companies. The results highlight that the commercial real estate financing market in Germany is under strong innovative pressure. A study by the Warsaw School of Economics shows that the industry is aware of the need for change but remains stuck in old processes. The management boards of leading banks rate the level of innovation in the market as low while 70% of them declare that they are in talks to collaborate with PropTech companies. These companies are seen as potential catalysts for innovation, helping banks accelerate digitization and stay competitive in the long run.
What scientific problems in your discipline do you most look forward to being solved and why?
In my field of science I most look forward to solving problems related to the adaptation and use of modern technologies, especially in the context of cooperation between technology companies and banks. There is an urgent need to understand how these technologies can be effectively implemented to increase efficiency, improve processes, and maintain competitiveness in the market. I believe that by better utilizing the potential of innovation and digitization we can create a more dynamic and adaptable environment for banks and technology companies, ultimately benefiting both the financial industry and its customers.
What are the biggest challenges you face in your scientific work?
The biggest challenges are mainly related to the complexity of integrating modern technologies to already existing systems and environments. Moreover, managing diverse data and analyzing it to draw valuable conclusions is another difficulty especially because of the increasing amount of available information. Properly utilizing this data has the potential to enhance efficiency and accuracy of analyses while reducing costs in the process. Unfortunately, this information is often not fully utilized due to the lack of appropriate analytical tools or data management processes, especially if relying mainly on Excel which heavily depends on the knowledge and skills of each participant.
Additionally, entering data into various systems can lead to decreased information quality through inconsistencies and errors. Therefore, there is a need for more advanced technologies and data management strategies that enable the full potential of available information and improve data quality. This, in turn, will contribute to more precise analyses and better informed decision making.
What are the most important research questions you plan to take up in the near future? What directions of development do you see in your field?
One of the main areas will be further exploring the integration of machine learning with data analysis, especially in the context of complex financial systems. I am researching how to further improve decision-making processes and optimize resource allocation through the use of advanced data analysis techniques, also considering artificial intelligence.
Are there practical implications or potential applications of your scientific research results? How do you see their impact on society or the economy?
Absolutely. By improving decision making processes and optimizing resource allocation in the financial sector we can contribute to the efficiency of financial institutions. Such actions can lead to the restructuring of analytical processes – for example – by using systems to perform basic analyses leaving humans to verify the data. The next step is to optimize the cost-to-revenue ratio – which in turn leads to more effective capital investments and the development of enterprises and markets. In the real estate sector, the application of advanced data analysis techniques can support making more informed investment decisions, predicting market trends, and identifying attractive investments. This can, in turn, contribute to increased efficiency and competitiveness of real estate companies and provide better conditions for consumers in the real estate market.
What advice would you give to young scientists at the beginning of their scientific careers?
Follow the principle of “stop.think.go.” Pause for a moment, think about the situation, and then take action. Remember that taking some risks and listening to your intuition is also important to reach new territories in your scientific career. This strategy promotes awareness in decision-making and encourages making thoughtful and decisive choices. Analyze options, consider the consequences, but don’t be afraid to trust your instincts and explore new possibilities.
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