Data property s secret resource

Data: property’s secret resourceThe use of data to solve the business problems of the real estate sector is emerging as an indispensable competitive ally in the digital age.Incorrect or out-of-date data can lead to decisions that cost businesses and property stakeholders millions of dollars. The rise of data and intuitive analytics systems that can verify and crunch data in real time is becoming an essential component of the property sector’s competitive artillery. According to Yardi regional solutions manager, Australia and New Zealand, Terry Gowan, the sanctity of data is essential in the real estate sector, particularly for those dealing with capital transactions of significant size. “It is extremely important for property professionals to have real-time, up-to-date data to analyse before making major decisions,” Gowan says.Access to data is becoming more streamlined, intuitive and precise, transforming the real estate sector’s traditional reliance on swathes of reports and special teams collating analyses for executives into instantaneous access to a trusted and unified data source. Yardi has upgraded its Orion Business Intelligence platform so that it integrates multiple data sources, providing real-time, up-to-date data across all operations of the business. “We find that businesses benefit from having a ‘top down’ summary of data that they can then drill down to the source transactions with. The ability to reconfigure dashboards and add custom reports to a tabular-driven device means that executives can all have their own views of data that is relevant to them,” Gowan says.The mobile platform provides a holistic view of business operations that allows clients to analyse the health and performance of their portfolios. Once a transaction is posted at the property level, for instance, it is available in the BI platform all the way up to the consolidated or fund level. “This is all done without having to worry about costly, problematic or out-of-date data, due to IT-built and maintained interfaces. “Self-serving dashboards which are relevant to each silo of the business, all with real-time data presented in the way the business requires it, is a huge benefit to the business and a real competitive advantage,” Gowan adds. Watch this video to see the new features of Yardi’s platform: