Data Visualization as a Revenue Driver

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Data Visualization as a Revenue Driver

Accurate property performance data is among the most sought-after commodities in the apartment industry. Few metrics drive solid decision-making than those pertaining to genuine activity at a rental community.
But the data itself often leaves something to be desired. It can create further questions and convolution if delivered in spreadsheet fashion with no further context. The data becomes truly powerful when it can be visualized within the context of a property, when an accompanying interactive map of the property augments the perspective of the raw numbers. 
At first glance, adding map-based visualizations to a property’s performance data seems like a nice-to-have feature. But this additional dynamic can do more than add texture to the data. It can serve as a revenue driver by providing unique insights property teams would have otherwise missed. 
Here are a few of the ways: 
Unit premiums 
Properties generally operate on logic when pricing different types of homes within a particular community. While the logic method is typically effective, leasing activity sometimes proceeds in a counterintuitive manner. For instance, conventional wisdom would suggest that creek-side homes with tremendous nature views would command a higher premium than units on the other side that overlook the fitness center. But over time, more residents are opting for the latter homes because the creek-side homes experience more background noise and are more echo-prone. While the view is spectacular, it doesn’t overthrow a quiet living experience. 
Teams observing leasing activity within the context of a map will quickly notice the spike of lea……