When we come to write the history of the changes that coronavirus forced upon multifamily, there will be plenty to say about its impact on technology. With social distancing virtualizing property operations, demand for proptech has skyrocketed, for example (as we will discuss on this blog in the next few weeks). But as companies have accommodated work from home, another, more traditional technology has come to the fore: Business Intelligence (BI).
With social distancing and virtual office arrangements now commonplace, we have fewer opportunities to walk properties, meet with teams, and understand at first hand what is going on. In this environment, the need to draw insight from data is greater than ever, heightening the focus on the quality and accessibility of this most precious of assets. It is interesting, then, to consider the ways that companies are adopting BI in our industry.
What We’ve Learned About Multifamily Adoption
Over the last couple of years, we at D2 have researched an industry white paper: 20 for ’20, which is based on 20 interviews with senior multifamily leaders. Somewhat surprisingly, in each of the last two years, BI emerged as a major finding, but for different reasons each year.
In our 2019 edition, we noted that the adoption pattern of BI was different from other enterprise technologies. Unlike with CRM or revenue management, for example, there has been no “big bang” of BI adoption. The pattern is more like a slow trickle of implementations over many years. Second, we were struck by ……
Multifamily’s BI Evolution (Not Revolution)
