Unlocking Effective Coordination in Commercial Real Estate

In the fast-paced world of commercial real estate, coordination is often seen as a buzzword—one that suggests a seamless integration of systems, data, and team efforts. But what does it truly mean to coordinate in this industry, especially when it comes to data and digital infrastructure? At OpticWise, we believe that if you don't own your data & digital infrastructure, your vendors do. This fundamental insight forms the backbone of our latest Peak Property Performance® podcast episode, where we explore the fourth “C” of our PPP 5C™ framework: Coordinate. Listen to the full episode as we delve into practical strategies for aligning data, systems, and human resources to drive tangible results.

Understanding Data Types and Privacy Concerns

In our latest episode, Drew Hall, Co-Founder & Chief Architect, kicks off the discussion with an exploration of data types. Understanding the difference between user data and property-owned systems data is crucial for effective coordination. "You'll hear us say that a thousand times on this podcast," Drew emphasizes. "When we talk about data, we're talking about systems data owned by the property. We do not touch user data."

Bill Douglas, CEO, adds a strategic perspective by sharing a real-world conversation he had with a property owner in Southern Georgia. Initially skeptical about the need for data, the owner realized the value of blended data sources when presented with examples from other clients. "He had an aha moment," Bill recounts, "when he understood the potential of correlating data from different systems."

Privacy concerns are paramount, and at OpticWise, we maintain a strict focus on systems data, steering clear of intrusive user data tracking. This commitment not only safeguards tenant privacy but also ensures that property owners retain control over their valuable data assets.

Blended Data and the 55 Plays Strategy

Coordination involves more than just understanding data types—it’s about leveraging them effectively. Drew introduces the concept of blended data and the 55 plays strategy, a list of potential data integration scenarios designed to spark innovation. "The 55 plays are different ways you can bring together data sources to create actionable intelligence," Drew explains.

Bill reinforces the importance of selecting achievable plays. "Pick ones you know you can finish because the last thing your team wants to see is something that never finishes," he advises. The key is to start small, prioritize, and gradually build on successes. This approach not only mitigates risk but also builds momentum and confidence within the team.

Concrete examples from the podcast highlight the transformative potential of blended data. Imagine integrating sub-meter data for leak detection, as one client did, turning a billing system into a proactive tool for reducing insurance costs. This kind of creative thinking exemplifies how coordination can unlock new opportunities and drive efficiency.

Integration vs. Coordination of Data Systems

A common misconception in the industry is equating integration with coordination. Bill challenges this notion by probing deeper into what integration truly means. "Where's your data?" he asks. "Is it in your data repository or just being shared by your vendors?" The difference is critical—true coordination means having full access to your data, not just relying on vendor-shared integrations.

Drew expands on this by discussing the limitations of traditional integrated systems. "Most of the time, integrated systems don’t let you run queries on your own data," he points out. Effective coordination requires not only collecting data but also the ability to analyze and utilize it across various systems.

Real-world scenarios, like troubleshooting HVAC efficiency or optimizing energy use based on occupancy data, illustrate the power of coordinated data efforts. By asking targeted questions, property owners can identify gaps in their current systems and leverage data for smarter decision-making.

Integration vs. Coordination of Data Systems

In our discussion, we emphasized a critical distinction between integration and coordination of data systems. As Bill pointed out, many large firms believe their systems are integrated simply because vendors share data amongst themselves. However, the true power lies in owning your data and using it to its full potential. "Where's your data?" Bill asks. "Is it in your data repository, or is it just being shared by your vendors?" Coordination, as Drew explains, means having the ability to run queries on your own data and use it to enhance other systems.

Drew offers a concrete example: "If you had real-time data from sub-meters, wouldn't that turn into a leak detection system of itself?" he asks. This kind of coordination can lead to real operational efficiencies, like setting alarms to manage water usage more effectively. The ability to not just integrate, but coordinate, can open up a myriad of possibilities for property owners.

Coordination also involves asking the right questions. Bill highlights the importance of understanding why systems operate as they do. "You can drive right at the heart of it with just a relatively simple question," he suggests. This approach helps identify gaps and opportunities for improvement, enabling owners to make informed decisions that align with their strategic goals.

Leveraging Data for Operational Efficiency

Effective coordination allows for leveraging data to achieve operational efficiencies. By coordinating data, owners can transform their existing systems without the need for significant capital investments. Drew shares a compelling scenario: using data from existing systems to detect leaks or anomalies in water usage, thereby reducing insurance costs and mitigating risks.

This approach not only saves money but also empowers teams to innovate and find creative solutions to everyday problems. "Coordinating is also coordinating your team, not just the data," Drew notes. Encouraging team input and allowing them to experiment can reveal untapped potential within existing systems.

"Give them the right to try it and let them fail. Either way, you're going to know more when it's done than you do now," Drew advises.

By fostering a culture of experimentation and learning, property owners can unlock new avenues for efficiency and improvement. Coordination, therefore, becomes a strategic tool for driving success across the board.

Conclusion and Future Topics in CRE Coordination

In wrapping up our exploration of coordination, we emphasize its role as a pivotal component of Peak Property Performance®. Coordination is not just about integrating systems but truly owning and utilizing data to drive strategic outcomes. As Bill aptly summarizes, "You're still headed to your destination, but now with more insight and control."

As we look to the future, our next episode will delve into the final "C" of our PPP 5C™ framework: Control. This will cover how to maintain oversight and governance over your data and digital infrastructure, ensuring that your assets work for you, not the other way around. For those interested in diving deeper into these strategies, check out the Peak Property Performance® book.

We invite you to explore more insights by visiting our Peak Property Performance® Podcast hub, where you can catch up on past episodes and prepare for upcoming discussions that continue to push the boundaries of what's possible in commercial real estate.

About OpticWise: OpticWise provides owner-controlled data & digital infrastructure for commercial real estate — from PPP Audits to portfolio-wide intelligence. See how we operate or read customer outcomes.