There’s a widespread digital transformation leaving a path of data silos creating challenges with data democracy and ease of access among Canadian REITs. “From identifying revenue and deal opportunities to generating insights on asset performance, data analytics is a critical business enabler in light of the trends reshaping the real estate market”.
What is data analytics for REITs?
Data Analytics for REITs is the automation of data management tasks within a data platform where a centralized source of truth is used as the basis for analytical capabilities. They are surfaced through data products that provide dashboards, ad-hoc analysis and governed data extraction.
Why is data modernization important for REITS?
REITS are making investments in technology to digitize their business processes. They are now facing the challenge to provide value from their data to better manage costs and efficiencies while generating new opportunities. The benefit is, users spend more time on higher value analytics and decision-making tasks instead of lower value data extraction and preparation tasks.
What does data modernization mean for REITs?
As data sources multiply, there is more granular data available to to better serve REIT customers and people internally. "This can mean working with third-party organizations that help connect the many sources of information across the company to better manage and generate insights from the data it already has"(PwC 2023 Emerging Trends in Real Estate Report).
How can REITs benefit from data modernization?
Finance and Operational Insights
As the complexity of of data increases over time, an increase in workload has a negative impact on productivity and accuracy of reporting. Each employee’s day could potentially turn into time-consuming, mundane data wrangling.
Finance & Ops Information Silos We Integrate:
Financial Reporting
Asset Management and Valuations
AR Reporting
Property Accounting
Corporate Accounting
Operations
Development and Sustainability Analytics
The details of a property that’s collected via IoT and other sources combined with utilities data present a holistic picture of its environmental performance. Often regulated, DSGs (development and sustainability goals) require a transparent analytics dashboard where information can be retrieved quickly and consistently. Development and sustainability is an emerging field with high visibility that needs the flexibility to stay on top of workloads so project decisions can be made with confidence.
D&S Information silos we integrate:
Utilities Usage
Dev. & Budget Reporting
Property Overview
Leasing & Marketing Intelligence
The volume of leasing data is continually increasing along with the complexity of managing it. A transparent lease pipeline will provide leasing professionals with a streamlined processing workflow and analytics. By integrating these data sources (internal and external) leasing professionals can create management and forecasting dashboards for better portfolio management and decision making.
On the Marketing side, teams are facing proprietary data pressures, where marketing analytics are becoming increasingly elusive. By combining information sources, a picture can be created to measure the success of marketing initiatives.
Leasing & Marketing information silos we integrate:
Brand & Culture
Leasing
Joint Ventures
Financial Reporting
Legal
Turn Your Data Insights into Business Value
The people power is where REIT organizations gain their value. By integrating data sources with data products, you have an approach to reporting that's designed to improve everyone's day-to-day.
We are your guide to turning your data sources into data products so you can gain usable insights. Connect with us today for help to stop the spreadsheet scramble and create high impact teams.
