The range of information a property manager or porfolio holder could have on their estate is astounding; from user feedback right through to live monitoring of user behaviour, building performance and efficiency of space.
As the property and construction industry catches up with other sectors and begins to think about the data it could have at its finger tips, it is important that the data we capture is collected for a reason. Whilst I live by the mantra "if you don't measure it you can't improve it", what you're capturing must be relevant and avoid invasion of privacy or user experience.
Our industry is a long way away from getting to grips with Big Data (extremely large data sets that may be analysed computationally to reveal patterns, trends, and associations, especially relating to human behaviour and interactions" - thanks Google) but one thing that is clear is that in order to make best use of what we have, we must first organise and structure the way we manage the data we have.
With clear categorisation and management of the data we have already, businesses can focus on using that data to drive improvement and support innovation. And in simple terms; that means more time thinking.
Thinking about what the data means, how we can improve, and ultimately, how we can make our bottom line look better, allowing us to invest in pushing the industry forward.
The seminar from Datscha linked below delves into the subject further, with an amazing quote from Dan Ariely of Duke University:
"Big Data is like teenage sex; everyone talks about it, nobody really knows how to do it, everyone thinks everyone else is doing it, so everyone claims they are doing it..."
The point of big data, rather than providing quantitative information to publish in a book and show that work is being done, is to provide meaningful insights.