Data - The largest property access of the future

Published 2019-07-15

The number of digitalised measurements in modern property is increasing. In a not too distant future, it has been estimated that the property’s data will generate the same, if not even higher, value to the actual property. This means you need to take control of your data today - otherwise, someone else will.

Tech is getting more and more integrated into every component of a property. We connect things, build infrastructure for communication, and collect data to control and surveil a property. In the ongoing digital transformation of the construction and real estate industry, data is the fuel that leads the changes forward and creates value.

An integrated part of the property’s maintenance plan
The next big revolution consists of the digital clone. By building a digital copy of the physical property that visualises data in real-time, the property owner gets better control over all information within and surrounding the property.

The digital clone must be integrated into the management plan so that it becomes an active tool where all information is collected. With the help of artificial intelligence, the platform can indicate when, where, and how different efforts should be implemented, long term as well as short term.

By doing so, we move from reactive, expensive maintenance, to proactive, cost-efficient maintenance. As if that wasn't enough, with a comprehensive view over the property in real-time, the clone can also contribute to identifying potential energy efficiency improvements or suggesting actions that create a higher capacity of unused areas.

Data transforms the business of the property owner
The most significant benefit of being data-driven is all the new opportunities to make informed and fact-based decisions. But, to get a full business case, the information must be organised and made available in a simple way. With modern algorithms and tools for visualisation, it can be used in a completely new way - and that is when it can create new insights and benefits.

The digital clone facilitates creating new foundations for entirely new streams of revenue, changing the user experience, and creating added value and personalised services. In reality, the property owner transforms from being an operating manager to a service provider; an active partner in people’s lives, who proactively can anticipate future needs and adjust the experiences aligning to the preferences of each user.

One of the primary competitive advantages is flexibility. Needs change over time and as we integrate new technology. Homes can now be better adapted to the residents’ preferences and life situations, and work-spaces can easily add new functions and grow organically with the company needs. Services such as food delivery, maintenance, and healthcare become an integrated part of the property experience.

Additionally, security can be strengthened with the help of new insights. Both when it comes to the security in and around the property, but also by providing a better resilience towards environmental factors such as extreme weather or lack of energy supply. The property becomes smarter and more robust for future challenges.

Is it time to reevaluate the value of your data?
Simultaneously, we are only in the introduction phase of a new era within property management. The new information will be made possible to utilise in areas we are not yet aware of. The technical development is moving fast, and new applications are continually being developed. This means that data will become an even more valuable raw material, desired by many.

A completely new market is emerging, consisting of actors that produce and use property data to create new services. Are you a property owner? Then you can be sure that others want to have access to your information sooner or later. This is why it is vital to form a strategy already today. You need to take ownership of your data before someone else does.