Data technology and analysis is necessary now more than ever because of the changing demands of decision makers and the increasing amount of data available. But property data is meaningless unless it empowers your team to take action, make operational improvements, or improve service delivery. So what can you do to ensure your team is able to manage by exception?
- Set benchmarks, targets, and Key Performance indicators (KPIs)
- Establish and automate notifications. Make sure escalations are put in place for missed goals and when performance targets are not met.
- Create reports that show how performance correlates with goals; have high level dashboards and widgets that show trends and missed targets. Having this information available in easily consumable charts makes it easy to digest info on the go, but these charts also need to have extensive drill-down capabilities for rich data analysis.
Best-in-Class Businesses achieve a 10% year-over-year increase in operational efficiency by changing how they worked with data – make sure your property management software is equipped to integrate with your others, turn the data it collects into actionable intelligence, and ultimately make your team more efficient.