{"id":1004311760,"date":"2019-03-28T05:59:58","date_gmt":"2019-03-28T13:59:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004311760"},"modified":"2022-03-04T07:06:53","modified_gmt":"2022-03-04T15:06:53","slug":"how-to-take-your-cre-data-to-the-bank","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/how-to-take-your-cre-data-to-the-bank\/","title":{"rendered":"How to Take Your CRE Data to the Bank"},"content":{"rendered":"

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Last year, we explored the concept of data as an important, but still largely untapped, \u201ccurrency\u201d<\/a> for commercial real estate firms and discussed considerations for employing it as a competitive advantage.<\/p>\n

READ THE DIGEST<\/a><\/p>\n

This month, we are going to dive deeper and focus in on how different types of organizations across the industry can put this data to use in their everyday business operations.<\/p>\n

The first and most critical step in moving toward action requires a shift in understanding and mindset. When we talk about data as the new gold<\/a> for the industry, we mean just that. It is imperative that CRE players shift their mindsets and see data as an asset\u2015something that they treat as a valuable commodity and use to help generate alpha.<\/p>\n

In real estate, this means deploying data to fuel analytics and a better understanding about individual assets and portfolios. Once this is understood across the organization and relevant stakeholder groups, firms can begin to use data to better identify and understand risks and opportunities and help focus the efforts of human resources where they are most valuable.<\/p>\n

Rather than rehash what CRE firms are currently doing with their data, here are some examples of how we think they could and should be putting it to work:<\/p>\n