CHICAGO—While raw data is primarily based on the past, what apartment operators do with those data in the future is what is now proving critical. Leading apartment executives discussed data's emergence in decision-making and how it can steer property transactions and even convert leases during a session on Tuesday at National Apartment Association's Apartmentalize Conference in Chicago.

Laurie Lyons, Vice President Client Services, Pegasus Residential, said that she expects more buying and selling decisions to be made with the buyer not even having set foot on the property, but instead relying on a deeper set of data to determine value.

Joe Coleman, COO, Decron Properties, agreed that data is playing a larger role in apartment business, including due diligence, but said that in today's competitive environment, sometimes being that one bid that actually did visit the property can lead to a big advantage and wiser outcomes.