Humans are visual beings. We learn more about our environment through our eyes than we do with other senses. And when it comes to technology, nothing beats the visuals. That is why the software giants incorporate images, graphs, charts, and colors in their data analysis software dashboards, such as Google Analytics and Facebook Insights. Therefore, the CRE dashboard or Commercial Real Estate Dashboard enables you to understand complex data quickly. It helps the professionals and novice users alike in deciphering the data and making informed decisions.
This is especially true for Commercial Real Estate businesses. They have diverse data to work with. So, if the data is scattered and unorganized, it can sap off the organizations’ energy and resources. Commercial Real Estate Industry needs easy-to-use interactive dashboards at your fingertips to analyze your real estate portfolio performance data. Let’s find out what are some of the characteristics of good CRE dashboards.
How does CRE Dashboard help in business process centralization and monitoring?
As businesses are getting more complex, there is an increased need for business process centralization. Commercial Real Estate Management involves critical processes such as critical dates associated with portfolio, contracts, loans, and other administrative functions. A good CRE Dashboard allows you to handle business processes from a centralized platform.
As the adage goes “out of sight, out of mind”, you may miss a critical task just because you couldn’t see it. A good dashboard will help you monitor the vital signs of your business effortlessly.
A good CRE Dashboard should provide alerts to ensure compliance
Real estate professionals are very busy. They have lots of critical dates and compliance tasks to manage. It happens sometimes you may forget an important task. You may have to renew the contract or submit compliance documents to legal authorities. An efficient CRE dashboard will have a task alert feature to remind you of important tasks, both at individual and departmental level.
Data can become meaningful via business intelligence dashboard
People often don’t realize that utilizing BI, data can be transformed into valuable insights. Therefore they either don’t understand their data, or continue to utilize cumbersome ways for analyzing data. For real estate industry, a good business intelligence approach can utilize CRE dashboards not only to search data and documents across the real estate portfolio but also notice trends and insights which may otherwise be missed.
CRE Dashboard should be part of real estate Decision Support System
A decision support system or DSS, is a critical component of business process automation. It helps you in making informed decisions. The idea behind this component is that pertinent information is available to managers for formulating strategies. A well designed CRE dashboard can enable real estate professionals follow facts based decision-making processes.
With CRE Dashboard, you get the ability to drill down into details
Just like any efficient data analysis software such as Google Analytics or Facebook Insights, CRE software should enable you to see the details on a micro-level. Only then can you see the big picture. From our example of Google Analytics, you can see the overall website traffic over a month or a week. From there, you can drill down to a more granular level, such as traffic per day or even during a particular hour within a day. Likewise, good CRE dashboards would provide the drill-down feature to see the details. For example, by using interactive line charts you can drill down to tenant level details, by selecting date ranges and volume of activity.
Priority Management with CRE Dashboards
When it comes to standard business processes, they can get quite complex and hard to mange as the business grows. You would have multiple goals to meet and deadlines to beat. There may be conflicting priorities. So how do you cope with it? A priority management system can resolve this issue. It will help you enlist tasks and goals. Then it will prioritize them based on urgency and importance. An efficient CRE software will integrate this feature into its repertoire, such as our CRES Real Estate Solutions software. Our CRE dashboard exactly does the same. It also consolidates Real Estate Data, Documents, Business Processes, and Business Intelligence data on a single platform. It gives a bird-eye view of data from a single dashboard.
Conclusion
CRE dashboards are business intelligence based visualization of real estate data. By utilizing interactive charts and graphs, real estate professionals can decipher the data and make better decisions based on facts. The key benefits of commercial real estate dashboards are centralized visibility, interactive visual analysis, decision support system, prioritization, and ability to drilldown to details. Organizations that value business intelligence are better equipped to rise above competition.
How we can help
CRES Technology provides you with different dashboards so you can interact with your data and documents seamlessly. A robust dashboard will help you manage your documents from a centralized point. You can monitor the vital signs of your business in the form of graphs, charts, bars, and colored pie charts. A good CRE Dashboard will minimize the clutter. Increase productivity with CRES Technology’s customized solutions. Our support team will help you along the process. If you have any query, do write to us.
What is CRES Real Estate Solutions?
CRES is a robust suite of real estate solutions based on Microsoft Office 365 that consolidates data, documents, business processes, and business intelligence. It can be integrated with any real estate system such as MRI, Yardi, Entrata, VTS, or RealPage. CRES Workflow Automation allows efficient management of any type of repetitive initiatives involving real estate, people, and processes.
About Irfan Butt
CRES Technology – Founder and CEO
A strategic leader with more than twenty years of progressive experience in Business Administration, Finance, Product Development, and Project Management. Irfan has a proven track record with broad range of industries including hospitality, real estate, banking, finance, and management consulting.