In a bid to navigate the evolving landscape of the apartment industry, experts are rallying around a unified message and it is that data is the key to smarter decisions. During the Blueprint Conference in Las Vegas, a panel of distinguished speakers shared insights on the important role of data in reshaping the apartment rental business.
Brian Lichtenberger, the CEO & Founder of MARKERR, emphasized that the quest for better answers begins with tapping into the wealth of available data. He said that there’s a treasure trove of data waiting to be harnessed and apartment companies just need to collect it, cleanse it, and connect it.
His sentiment resonated with his fellow panelists including Jindou Lee, CEO & Founder of HAPPYCO; Paul Morgan, SVP, Head of Data Science & Research at Carmel Partners; and Josh Glastein, CTO at Berkshire Residential Investments. The panel discussion, skillfully moderated by Christopher Yip of RET Ventures, explored the transformative potential of data in the apartment industry.
Glastein highlighted the changing winds in the apartment sector and said that not long ago the apartment business was a lucrative venture and today, with increasing challenges, leveraging data has become imperative to make sound investment decisions.
Paul Morgan emphasized the complexity of engineering meaningful insights from vast datasets. He simultaneously underscoring the importance of earning the trust of C-suite executives. He said that when the stakes are high, it becomes challenging to favor data over individuals with extensive company experience.
Jindou Lee brought attention to the ubiquity of data in the industry. He pointed out that data is pervasive but often inconsistent, citing the various methods apartment companies use to record information.
