Space is deprioritized as a valuable commodity. The traditional business model of providing exclusive access to square footage is challenged by a new model, one that provides access to the services made possible by that space. And the traditional real estate company is being challenged to think like a technology company, tying service delivery and value to revenue.
Modern commercial real estate (CRE) is a data-generating engine, with buildings and their occupants generating hundreds of gigabytes of performance data every day. Yet much of this data is going to be wasted. CRE organizations should aim to move from data collection to insights, and finally to augmented behavior. By amplifying capabilities to leverage the power of data, CRE organizations can enable portfolio optimization, develop properties and portfolios with precision, and reimagine the tenant and end-user experience.
To thrive over the long term, Canada’s CRE organizations will need to view their properties as scalable, agile systems that use data intelligence to make better decisions and help tenants and end users get the most out of the space. . Those who do will be well positioned to weather the inevitable disruptions and lead their industry into the future.
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