Commercial Investment Real Estate is the magazine of the CCIM Institute, the leading provider of commercial real estate education. CIRE covers market trends, current developments, and business strategies within the commercial real estate field.
Issue link: http://cire.epubxp.com/i/475894
41 March | April | 2015 CCIM.com Expedited Transactions and Move-ins. Site selection expertise can be combined with virtual tour technologies that not only provide remote site visits, but also provide tracking metrics. An analysis of how clients are using virtual tours — which videos, for how long, and by whom — can help brokers predict how many tours will lead to a successful deal, and how to improve the "hit" rate. T en, occupancy and workplace strategy data can be used to create various move-in scenarios to optimize workplace productivity. Smart Data, Smarter Buildings. Today's increasingly informed clients and investors want hard data like long-term energy costs and operating performance. Advanced smart building management tech- nologies make it possible to obtain this data and more. New building technologies of er tremendous energy-savings potential derived from the data generated by today's computer-controlled "smart" systems, and a data-savvy management team can prevent costly and disrup- tive equipment failure, optimize building performance, and man- age resources across a huge property portfolio with a single highly ef cient dashboard. Combined with f nancial and legal inputs, this portfolio performance data becomes an invaluable tool for long-term strategic planning. Is Your Team Data-Centric? Inside corporate real estate departments, companies have begun investing more heavily in data and analytics platforms. Data-cen- tricity is quickly becoming the strategic vision of choice among corporate real estate and site selection executives, according to Mind the Gap: Aspiration vs. Reality in Corporate Real Estate, a new For- rester Consulting survey commissioned by JLL. More than half of corporate real estate leaders say they aim to become data-centric by 2017 — that is, using corporate real estate data not just to support opinions or decisions, but also to actually shape opinions and corporate strategy. Sixty-four percent of cor- porate real estate teams experienced an increase in their data and analytics budgets in the last f scal year and expect a budget increase this year, too, according to the study. T ese in-house leaders are using data-driven business intelligence and analytics to, for instance, determine which facilities are most productive in terms of revenue generation, or which sites are most appealing to critical talent pools. Some are using complex mapping tools to visualize data relating to hundreds of sites around the world and quickly determine the best strategies for optimizing the corpo- rate real estate footprint. T e clear rise in the use of big data and analytics technologies is transforming the commercial real estate industry, and the evolution has just begun. Rather than detracting from the very human skills required for managing people, transactions, properties, and port- folios, data and analytics are bringing faster and better-informed decision-making capabilities to all parties in the commercial real estate sector. David llmorgen is an international director and head of business intel- ligence at JLL. Contact him at David.Kollmorgen@jll.com. The proportion of CRE organizations that expect to be "data-driven" in three years will double to 56%. *Figures are rounded for ease Source: JLL