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CRE's Analytics Gap

TORONTO—Altus Group CEO Robert Courteau tells GlobeSt.com what's behind his firm's recent finding that 89% of owner-operators face major impediments to collecting and utilizing data.

By Paul Bubny | paulbubny | Updated on November 16, 2016

Robert Courteau of Altus Group “The trick is not to get enamored with the next, latest greatest technology,” says Courteau.

TORONTO—The data are out there; the problem is bringing them all together. A recent survey by Toronto-Based Altus Group, which provides advisory and data solutions to the commercial real estate industry, reports that 89% of owner-operator and owner-investor firms globally face major impediments to collecting and utilizing data to drive improved asset and investment management decision making. The figure rises slightly to 91% across US firms.

Data veracity and lack of normalization are the most common obstacles faced by firms in this industry, followed by regulatory requirement issues and lack of tools and expertise within their organizations. Similarly, 89% of firms surveyed said their business could eliminate or reduce data silos through better integration and standardization, but for what the report identifies as an “unconnected approach” to managing information. The report was conducted among more than 300 international CRE firms with assets under management of at least $500 million.

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