Only 3 in 10 Real Estate Leaders Using Data to Improve Tenant Experience: KPMG Survey

In commercial real estate, the ever-expanding volume of market, building, and tenant data represents a strategic opportunity for investors, developers and managers alike. Yet according to the inaugural KPMG Data Strategy Survey, only 31% of real estate leaders in the U.S. are using data with an objective of improving tenant experience compared to 28% of their global counterparts. Additionally, only 32% of U.S. respondents and 25% of global respondents say they are sharing building data with tenants in an effort to improve the tenant experience.

”We believe that now, more than ever, there is a great opportunity to leverage data to improve the customer experience, meaning both your investors and tenants, drive internal efficiencies and develop insights for better decision making, ” said Phil Marra, U.S. Real Estate Funds Leader. “The real estate industry is behind the data curve of most other major industry groups and real estate companies need to develop a comprehensive data strategy road map to accelerate their journey.”

Additional findings of note:

Seventy five percent of global leaders and 59% in the U.S. say tenants have not asked about health related data (I.e. hygiene standards of the building)
Thirty four percent of global leaders and 40% in the U.S. indicate their plans for data strategy implementation have been accelerated due to increased COVID 19 working from home.
Fifty-seven percent global and 74% of U.S. respondents say they have a coordinated strategy for data delivery
Only 41% global (but 51% in the U.S.) say they agree they can acquire information in a timely manner

Marra also believes “those organizations that can quickly capture, synthesize & analyze data available to them, from internal and external sources, including traditional financial data and nontraditional data such as building systems and signals from customers, tenants & investors, will set themselves apart from the pack”.

To read the full report click here. To connect with Phil on LinkedIn click here.