Reshaping asset management: the role of data lakes in commercial real estate

Reshaping asset management: the role of data lakes in commercial real estate

9 August 2023

In today’s data-driven world, businesses across various industries are recognizing the significance of data as a valuable asset. Commercial real estate asset management is no exception, as an industry producing a large amount of data and documentation. Data will allow asset managers to enhance decision-making, have a better knowledge of their assets, and gain a competitive edge. And data lakes are the perfect tool to revolutionize the way they handle vast amounts of information.

What is a data lake?

Before delving into the benefits, let’s briefly explain what a data lake is. In simple terms, a data lake is a vast repository that stores both structured and unstructured data at any scale. Unlike traditional data storage solutions, data lakes do not require predefined schemas. Instead, they allow raw data to be ingested from diverse sources, maintaining its original form until it’s processed for analysis. This unique feature of data lakes ensures that no valuable information is overlooked, enabling asset managers to extract valuable insights from an extensive range of data.

But what are its benefits? 

1. Consolidating Data from Various Sources

Commercial real estate asset managers handle an extensive range of data, including property details, tenant information, financial records, market trends, and more. These data points often reside in disparate systems, siloed between departments, making it challenging to gain a complete view of your assets and their performance. Data lakes provide a centralized repository, aggregating data from different sources into a single location. This consolidation simplifies data management, saving time and effort in data integration and making it more accessible for analysis.

2. Scalability and Flexibility

As asset managers oversee diverse and growing portfolios, the volume of data generated increases significantly over time. Data lakes are designed to scale effortlessly, accommodating massive amounts of information without compromising performance. This scalability ensures that asset managers can handle the data demands of their expanding portfolios and adapt to future growth seamlessly.

3. Advanced Analytics and Machine Learning

Data lakes serve as the foundation for advanced analytics and machine learning applications, empowering asset managers to make data-driven decisions. By harnessing the power of data analytics, asset managers can identify trends, predict market shifts, and optimize portfolio performance. Machine learning algorithms can be applied to historical data to predict occupancy rates, rental yields, and even forecast maintenance requirements, aiding in proactive decision-making and resource allocation. Stonal AI-powered platform automatically sort, index and check data, as well as support asset managers in their decision-making process with recommendations and maintenance plans.

4. Real-time Insights

The real estate market is dynamic and ever-changing, necessitating timely decisions to capitalize on emerging opportunities or mitigate risks. Data lakes, with their ability to ingest and process data in real time, provide asset managers with up-to-the-minute insights. This rapid access to information ensures that they can anticipate tenant demands, and identify potential issues before they escalate. Data is kept up-to-date to ensure asset managers work with the latest data to avoid potential mistakes and plan ahead based on factual and correct information.

5. Enhanced Data Security and Governance

Data security is paramount, especially when dealing with sensitive property and financial information. Data lakes incorporate robust security measures to protect data integrity and prevent unauthorized access.

At Stonal, we understand the importance of data security. This is why our data lake is hosted on certified servers in France, working with cloud providers whose data centers are ISO 27001:2013 and CSA STAR Level 2 certified.

Additionally, data governance features enable asset managers to define access controls, ensuring that only authorized personnel can view and modify specific data sets.

6. Collaborative Decision-making

Data lakes promote collaboration among different teams within a real estate firm. Instead of siloed information, asset managers, property managers, financial analysts, and other stakeholders can access a comprehensive and unified view of data. This shared data environment fosters collaborative decision-making, aligning different departments toward common objectives and improving overall efficiency.

Stonal offers a platform consisting of a powerful data lake to collect, sort, and check data to enable asset owners and managers to make informed decisions based on trustworthy data, helping to preserve and enhance the value of portfolios and ensuring the ongoing liquidity of assets. The platform is powered by artificial intelligence providing users with reliable information and support to make informed business decisions.

Data lakes will transform the landscape of commercial real estate asset management. By providing a robust, scalable, and flexible data management solution, they empower asset managers to harness the full potential of their data. Embracing this technology, asset managers can now seize new opportunities to optimize portfolio performance and stay ahead in a competitive market.

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