Posted on October 15, 2018
By Jennifer Lefurgy, Ph.D.
The use of technology in office building operations has come a long way from motion-controlled light sensors and key card entry systems. Building owners and operators are beginning to use an array of increasingly sophisticated software and hardware to gather more information about how their buildings can not only can work more efficiently, but give them insights into how to attract and retain tenants. The NAIOP Research Foundation’s new report, The Office Property and Big Data Puzzle: Putting The Pieces Together, by Kimberly Winson-Geideman, Ph.D., discusses what defines big data, how it is being used by building owners, and some of the issues those who are working with big data should consider.
Big data is defined as high-volume, high-variety and high-velocity information that is produced in either structured formats (e.g., sensor data) or unstructured formats (e.g., pictures, text). The sheer influx of big data can be overwhelming for many companies; they often choose to sit on the data they collect with no concrete plans to use it. Therefore, some firms, particularly those without the resources to sift through large amounts of data, risk missing valuable information that could improve their bottom line and position them favorably in an increasingly competitive market.