At a high level, corporate real estate (CRE) business intelligence (BI) helps organizations optimize their portfolio and costs and helps teams to enhance work experiences.
Although many of the BI solutions and tech stacks CRE teams deploy connect only some data, an ideal solution connects real-time IWMS, portfolio, space planning, facilities management, capital and project, sourcing, energy management, ERP, and CRE finance data.
By combining these datasets, an industry-specific BI platform answers the most pressing questions you face.
- How are we performing against budget?
- Which properties are we spending unwarranted amounts of money on?
- How is each property performing overall?
- How does the operational performance of each property compare to our broader portfolio?
- Do we respond effectively to urgent and emergency work orders?
- Which properties require small projects?
- Which equipment is most likely to fail?
- What has been the team’s performance on reactive, scheduled, and emergency work orders?
- Are our service levels impacting employee retention and performance?
- What’s our completion rate for work orders?
- How many of our work orders were created to address incomplete work?
- Is there a broader issue with work order volume at a property or related properties?
- Is there a correlation between vendors and work order volume?
- What is the relationship between work order priorities?
- Is work order volume increasing?
- Where do we have opportunities to drive savings in operations and vendor management?
- Are we working with the right vendors, and can we optimize their performance?
- Do our service providers have acceptable quality scores?
- Do our service providers get the job done?
- Are there providers with better performance we could switch to?
- How many invoices have been waiting more than 15 days or more than 30 days?
- How many invoices are awaiting approval for each vendor?
- How many square meters do we currently lease, own, and sublease?
- What are our projected aggregate property costs over the next nine years?
- How much will we save if we take advantage of every co-working opportunity—and how many employees will be affected?
- Do we have enough time to cover upcoming leasing events?
- Are there any opportunities for us to consolidate properties?
- Where would the business be most successful based on demographics, talent, and supply chain?
- Are we getting the best value from our project teams?
- What has been our department’s year-to-date spend?
- How has our department’s spend been distributed by property?
- Which cost categories are under budget?
- How quickly can we act on an opportunity?
- How quickly can we commission and decommission as needed?
- Where are we paying over-market rates?
- Which property transactions need attention?
- What is the current status of our transactions—what tasks or milestones have we reached?
- Are there any ongoing capital projects?
- How do our costs compare to our peers and the general marketplace?
- Is our space utilization optimal over time?
- What does occupancy look like at each property?
- Is our vacancy rate high?
- Is our desk-sharing ratio too low?
- Is our average occupancy making the best use of our capacity?
- How is space allocated to different business units?
- Are there some floors or areas where space is used less efficiently that could be improved?
- Do we have an opportunity to reduce our footprint?
- Where could off-target space utilization be affecting employee happiness?
- Are there properties where occupancy rates have increased or decreased such action needs to be taken?
- Which properties have outlying density, and how do they compare to our peers in the same location/market?
- Which properties have low or high current sharing ratios compared to internal or external peers?
- Which properties have concerning trends in desk-sharing ratios over time?
- Where is energy consumption different than expected compared to budgets, portfolio averages, or peers?
If you don’t have the answers to these questions already, you need them—now. And you’re not alone. The industry is swiftly moving to BI platforms. In a March 2021 study conducted by Forrester Consulting on behalf of JLL, one-third of respondents plan to invest in a BI platform in the next six months.
View our previous webinar or download “Corporate Real Estate Professionals Require a CRE Business Intelligence (BI) Tool” for insights into choosing the right BI solution for your CRE organization or get a closer look at JLL Azara, an industry-specific BI platform that can answer these 53 questions (and many more) for your business.