Facilio releases CRE3.0 report on impact of data-driven building operations in 2020
Study uncovers trends in CRE operations, citing tenant experience, energy management and data-driven operations as top priorities for commercial real estate owners
The primary frustration faced by CREs today is rising maintenance cost, influenced by automation data silos in operating technology, according to a new report.
Maximising efficiency, energy management and customer experiences is a top priority for CREs, said the study from facilities management tech platform Facilio.
Real estate portfolio owners are dealing with inflexible tools to manage primary business outcomes, such as maintenance, asset optimisation, and delivering outstanding tenant experiences, the ‘2020 State of CRE Operations 3.0’ report said.
Facilio also found that CREs understand the need to unify and harness operational data at enterprise scale. “Currently, management of assets and optimisation of processes is limited by the lack of ready access to portfolio-wide operational information in real-time,” cited the report.
Facilio has labeled the new era of data-driven operations and maintenance in commercial real estate as ‘CRE 3.0’, marked by the three-pronged industry focus on data extraction out of siloed building functions; data aggregation on a portfolio-central platform; as well as use of modular apps to perform data-driven operations acting on the insight-rich operational data to enable predictive portfolio operations.
“Buildings are a powerhouse of data. The automation driven upgrade of commercial real estate assets, of a few decades ago – labeled CRE 1.0 – was focused on embedding buildings with hardware that delivered improved services and enhanced performance,” said Prabhu Ramachandran, founder and CEO, Facilio.
“This new decade will see the rise of CRE3.0, an innovative new data-driven model in commercial real estate operations, that is now making it possible to optimise asset performance and achieve centralised and real-time management, at an enterprise scale”, said the CEO.
The study touches upon the current state of operations and the priorities of CRE owners across the US, Middle East and India markets, and highlights the growing demand for data-driven operations to drive operational efficiencies and optimisation.
The CRE 3.0 report also reveals that connected building portfolios and a coherent end-to-end view of workflows and processes is set to become the norm in 2020 and beyond.
In the context of the Middle East, a rise in the number of properties coming to market, the emergence of new segments, regulatory reforms, and discerning customers are driving a major transformation in the industry.
“As we move into a new decade of change and evolution, it is increasingly clear that CREs need to focus on leveraging technology to boost building performance, secure maximum uptime, and provide seamless tenant experience across portfolios.”
Download the full report and analysis here.