Top 5 takeaways from ‘Feast or failure: a data-driven future’
JLL Technologies recently hosted a webinar, Feast or failure: a data-driven future, to discuss the biggest challenges corporate real estate (CRE) and facilities management teams face with data and business intelligence (BI)—and how to overcome them.
These are the top 5 takeaways from the session:
1. Many organizations are facing real estate and operations data and BI challenges, including:
- Lack of reliable data from across multiple systems
- Attaining correct, complete, consistent, and current information (4C data)
- Inability to compare costs with service outcomes
- Understanding the drivers of user experience
- Inability to benchmark service provider performance
- Inability to measure year-over-year trends
- Limited predictive analytics to optimize service programs
65% of attendees noted a lack of reliable data across multiple systems as the #1 challenge.
2. Current performance metrics are far too limited. The most common metrics today include:
- Total occupancy cost
- User satisfaction
- Environmental indicators
- Human resource metrics
- Real estate ROI
3. New performance drivers are emerging, including:
- Employee experience
- Workforce productivity
- Innovation and collaboration
- Workplace technology
- Portfolio flexibility and agility
- Data-driven decisions and intelligence
- Modernized CRE processes
- Standardized metrics and clear data governance practices
4. Performance management needs to change from:
- Periodic to continuous real-time data collection
- Backward-looking to mix of past, present, and future
- Largely financial to a broad range of financial and non-financial measures
- Disconnected from wider strategy to aligned with strategic objectives
- Based solely on the needs of shareholders to the needs of employees AND shareholders
5. Effective BI for CRE includes:
- A single view of the truth
- Effectively managing service partners
- Uncovering the drivers of better service experience
- Powering agility in the workplace
- Maximizing the productivity of services and the outcomes of changes
- Data-driven maintenance and service optimization programs
62% of attendees said they don’t currently have a BI solution to analyze real estate and operations data and are mostly analyzing data manually.
Stop working for your data, and get your data to work for you!
How?
Watch the on-demand webinar to learn more.