02 Oct Why do you need data visualization?
Do you remember the filing cabinets of the ’90s? There would be entire rooms lined with the metal behemoths. They would contain all the memos, contact info, contracts – everything you could need, lost in the metal boxes. Today we’ve mostly moved away from all those metal boxes to just one – our computers. But that doesn’t mean we know how to access and use all that data. Those emails, memos, contact info contracts that are unused, they can be considered ‘dark data.’
Dark data sounds like a secret weapon for a company and in a way, it is! It’s property management data that could be crucial in making decisions but it’s locked away, unseen in the darkness. You can’t see the data, you can’t visualise it, and therefore, can’t use it.
How is dark data generated?
As data has gone from the cabinets to the laptops, more and more data has been left behind in the 0’s and 1’s and isn’t used. There are numerous reasons for the emergence of dark data, but one of the biggest is the lack of tools to store the data. If that data is just floating aimlessly in sheets and documents, no one sees it and can properly access it.
And speaking of access, not everyone who needs the information has access to it. If information is stored in individuals’ Excel spreadsheets, emails, and, in paper folders, it is very difficult for other employees to stay up to date.
Another problem is the lack of knowledge or time to research and analyze the data. It can be slow and difficult to understand large tables containing a lot of information. The brain is simply not able to process efficiently and error-free tables that contain a lot of data. A lot of us are not programmed to process so many numbers and facts without getting lost along the way.
This problem can be avoided by using a database containing all possible information about the company and where all relevant employees have, at least, the ability to view the data. But we still need to see the data. After all, how can we know what we think until we see what we think?
So the solution? Visualise the data. By visualising the property management data, you can shrink massive amounts of it into just a few patterns that are easy to read. After all, we are programmed to see patterns. Why else do we see a man on the face of the moon?
With the data visualised, you will also be able to notice trends and changes quickly and before it is too late. Visualising your data will not only save you a lot of time but will also help you avoid unpleasant surprises. For example, do you know all the leases you have that are ending this year? How about the leases that are ending this year and have been contacted about continuing their lease? Or which ones have been hit the hardest by the pandemic?
Why visualize it?
Sometimes the data just has to be compared with each other. When you look at the tables, you probably won’t be able to analyse the differences between a mere few data items with just one glance. So if you work as an Asset Manager, are you always ready to answer your customer’s questions? Or do you have to open your spreadsheets and try to find answers among a huge amount of numbers?
You get the idea. None of these questions and scenarios are viable with the old-fashioned way of managing dark data. Not only that, but hidden in the dark data are dark errors that can lead to some dark, not so nice numbers in the future. So, how do you fix all this and visualise that dark data?
First, make it digital and keep it 21st century. If you still have the filing cabinets in the dark storage room, consider making them digital. By doing that, you can keep all the data with you at all times. Digital can also enable you to run programs that will eliminate human error. And you can search the data quickly, so you can answer all those questions posed by your customers.
What kind of program do you need?
And finally, with the right program, you can make your dark data visual, bright, and full of colour. This allows you to follow those trends and patterns with ease and keep onto of your data. Not only that, when it’s time for your presentations to your colleagues, you can pull the graphs right away and ensure you are presenting the right, correct, and up-to-date data.
You want to keep your colleagues’ attention in those meetings and visualization will help with that. We, as humans, tend to first notice colour. Then comes the shape. Lastly, we see the content. The logos of brands is a good example of this. Before reading the name you pay attention to colour and shape. So we are picking the information from colours and shapes much faster than from the plain content including text and numbers.
But, you need that right program. That’s where you need Assetti. Assetti is digital, has integrations to keep all the data in the light and up-to-date, and is available anywhere, anytime.
And as for that visualisation? In Assetti you can view your real estate data as pie charts, bar charts, stacked bar charts, and line charts. And of course, if needed you can also view your data in tables. You can view your property’s locations on the map, in the list, and the grid view with the cards including the pictures.
Make the digital, visual choice, and become the leader who pulls your company’s data out of the dark and into the light of the modern world. Use Assetti today and start seeing all your data at the touch of a mouse.
Assetti has been helping several organisations to improve their Real Estate Data Management, define KPIs for decision making and provide the technical support needed for implementing software solutions.