The Demand Solutions Blog

3 Ways Leading Multifamily Operators Are Using Business Intelligence (BI)

Posted by Donald Davidoff on Nov 28, 2017 11:00:00 AM

Most multifamily operators know they should put “gut feelings” aside in exchange for technologies that can turn raw data into meaningful information for better decision making. And while on an intellectual level they know that a data-driven business is more effective strategically, tactically and operationally, the exact way to go about it can be daunting.

Not so for leading multifamily operators. They know exactly how to accomplish this through the use of business intelligence (BI). Continue reading for 3 ways leading multifamily operators use BI to improve decision making.

Read More

Topics: business intelligence

Multifamily Technology: Are Marketing & Sales Human Anymore?

Posted by Donald Davidoff on Aug 25, 2017 2:00:00 PM

As we come upon the fall conference season and many panels (and one whole conference) dedicated to technology in multifamily housing, it got me thinking. When I first started working in this industry, it was very clear that we were real estate companies using technology; but now I wonder if we’re becoming technology companies running real estate?

Give the importance of buy/sell decisions and the amount of human resources dedicated to operating individual properties, the answer is probably that we’re still the former; but it may not be so clear cut…and the pendulum may swing dramatically over the next decade. Consider the following:

Read More

Topics: Technology, Artificial Intelligence, business intelligence

The Role of Business Intelligence in Multifamily

Posted by Donald Davidoff on Jul 7, 2017 1:00:00 PM

As more apartment operators are embracing data and analytics, and desire making data-backed decisions, (rather than by mere observation or gut) the focus and discussion on Business Intelligence in general and BI software specifically is continually increasing. 

Having moved past the hype of “Big Data” and more to the realities of how much we can accomplish in our industry, I’ve seen that by focusing more on “little data,” operators are now benefitting from their investments. Unfortunately, we have also seen the road littered with BI projects that have failed—with hundreds of thousands, even millions, of dollars wasted on projects with disappointing results.

So what truly separates successful BI projects from mediocre ones (or, worse, from those that end up in the scrap bin)?

As the interest and importance of this question has gained increasing relevance, the search for answers has grown as well. I recently provided a perspective on this topic in a three-part series that appeared in Multifamily Executive.

Read More

Topics: business intelligence

Winter is Coming - 6 Areas for Multifamily Operators to Review

Posted by Donald Davidoff on Apr 21, 2016 3:00:00 PM

With HBO about to premier my favorite currently running series, Game of ThronesI couldn’t help but see many signs of that show's catchphrase in recent pronouncements from various media, that absorption rates are now below new delivery rates, thus likely driving moderation in occupancy and rent growth in many markets.

Winter is indeed coming.

Unlike the never-ending contest between the Lannisters and the Starks, we in multifamily can step away from the battle and prepare to face the Windwalkers of the next recession. Here’s my checklist for just a few areas in demand management to review for any sophisticated multifamily operator: 

Read More

Topics: Revenue Management, pricing and revenue management, apartment marketing, multifamily sales, business intelligence

4 Key Functions of Business Intelligence

Posted by Donald Davidoff on Mar 8, 2016 12:00:00 PM

Information is power. And power is finally starting to come to multi-family housing. One of the trends I’ve seen in my practice the past few quarters is increased interest, and investment, in access to data. It largely comes in two forms: purpose-built tools aimed at providing deep insights into specific dimensions (think Rainmaker’s Slopejet, now called Intelligent Lead Management) and more general purpose overall business intelligence (BI) systems (think Rentlytics for an “off the shelf” tool or ReLuminous for more custom-designed solutions).

Read More

Topics: business intelligence