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Data Analytics Done Right: Successful Adoption of Analytics in Commercial Real Estate

March 16, 2020 / MARKS PANETH LLP

The commercial real estate industry is still in the early stages of adopting data analytics as an innovative strategy for managing investments, operations and finances. The tools to analyze a wealth of data relative to location, pricing, appraisals, industry trends, competition, vacancy rates and more are now widely accessible. The challenge is in (a) acquiring the data and (b) developing the analytics necessary to achieve these objectives. Data analytics is an easy concept to champion, as the proper analytics can deliver insightful, actionable results. However, when introduced incorrectly, data analytics can become time-consuming and ultimately deliver little value to your business. The successful adoption of data analytics in commercial real estate or any industry, for that matter  relies on an organization’s ability to: