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Better data, better CRE cost-savings

Author

Listed:
  • Wales, Phil
  • Mckissick, Steven

Abstract

Expanding on papers previously published in the Corporate Real Estate Journal (November 2010 and October 2012), CEO Wales and one of his firm's senior consultants are looking ahead at the next tier of savings that can be leveraged in commercial real estate primarily through technology. From ‘bringing corporate real estate business models into the 21st century’ to seeing ‘promising transformation’, the authors now discuss emerging efficiency opportunities, with major corporations taking a leadership role in cost reductions and savings. Much of the future's promise is resulting from innovative real estate and workplace technology systems that have provided an excellent foundation of better lease data, improved asset management through targeted data analysis, better management of space utilisation and enhanced utilisation of mobile work programmes through better technology and people tracking. On an ongoing basis, greater and more refined data allow for more macro analytics that, in turn, lets CRE drill down to discover more granular opportunities.

Suggested Citation

  • Wales, Phil & Mckissick, Steven, 2014. "Better data, better CRE cost-savings," Corporate Real Estate Journal, Henry Stewart Publications, vol. 3(4), pages 349-356, July.
    • Handle: RePEc:aza:crej00:y:2014:v:3:i:4:p:349-356
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    More about this item

    Keywords

    cost reductions/savings; efficiencies; alternative workforce; big data; smart building; asset management; technology; automation; sustainability; energy; sensors; space utilisation; quantitative; monitoring; next tier; IWMS; analytics; space;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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