LOS ANGELES—Delivering great service for residents while streamlining operations may seem to be a daunting challenge. Panelists at GlobeSt. APARTMENTS conference addressed those challenges in a multifamily management panel on Wednesday. The panel, moderated by GlobeSt.com reporter Kelsi Borland, talked about how incorporating data analytics helps to make efficient and effective decisions and how developing process improvement methodologies can maximize productivity and operations.
Panelist Amber Anderson, regional VP of Pinnacle, said that data is king and is the most value commodity in the world. "Companies can do better with rolling it out and embracing it," she said. "From our side of the table, we are busy and need to really take that time out to figure out how we can use those tools and solutions many have come up with and figure out if it is something that would work for our pain points."
Demetri Themelis, co-founder of Knock agreed that data is everything. "You have to make data a priority. If you believe that you can only improve what you can measure, you better have good measurable data." And having that data, he explained, is a competitive advantage. "Making sure your team has that as a core belief is really the foundation for building a better business."
Panelist Erina Malarkey, co-founder and CEO of Remarkably, explained that as people are anticipating a potential softening or cooling, many are realizing that their dollars have to work harder and smarter. "Real estate is feeling the impending need for this as we anticipate slight changes and as the space becomes more and more competitive."
David Polewchak, an industry principal at RealPage, talked to the point that there is no shortage of reports in the industry, but the key, he said, "is making that data consumable and accessible and really transparent in what you are trying to do."
Check back in the next few days for more from this panel and from other GlobeSt. APARTMENTS conference panels.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
