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:
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”.