machine learning - national multifamily housing council€¦ · machine learning for multifamily...

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Machine Learning& the Future of Multifamily Business Intelligence


Introductions

Tim ReardonChief Operating Officer

Bridge Property Management

Michael GaetaDirector of

Programming, BIYardi

Diana NorburySenior Vice President,

Multifamily OperationsPillar Properties

Darren WesemannEVP and Chief Innovation

Officer, Berkadia


Artificial Intelligence &Machine Learning


Pain Points When applied properly…

Artificial Intelligence & Machine Learning can address all of these!

• Time & Available Resources• Too many data sources• Excessive Reporting• Decision-Making


Are we close?

What can it solve?

Artificial Intelligence• Automation & cost

savings• Leasing • Resident lifecycle• Financial analytics

Machine Learning• Predictive facilities

maintenance• Predictive marketing

spend• Real estate market

places• Investment decisions


Areas to Consider Applying Intelligent Solutions

• Cost Efficiencies• Productivity and Performance• Auditability and Accountability• Quality and Reliability• Employee Satisfaction and Innovation• Scalability


Machine Learning for Multifamily


Develop a Data Strategy with Owners

• Data Aggregation• Collect and cleans sources

• Data Engineering• Tooling and stack

• Data Science• Applications that render the insight desired


Plan for both Digital Intensity and Transformation Management

“The firms that are the most mature in both DIGITAL INTENSITY and TRANSFORMATION MANAGEMENTgenerate 26% more profit than their industry competitors”

Source: CapGemini Consulting and MIT Center for Digital Business “The Digital Advantage: How Digital Leaders Outperform Their Peers in Every Industry”


Transformation Success Requires Agility and Adaptability


Considerations

• AI & ML are a complement• What are you solving for?

• Company Initiatives• Competitive Advantages• Goals

• Early adoption without data integrity• Resident Data Integrity• Resources


Better Data: The Barrier to Entry


Examples of Data that needs to be better

• Leasing and Marketing• Conversion ratios are 50% or higher• Most lead sources are walk-in or property website• Leads are sourced from Craigslist, Craigslist.com

and Classified-Craigslist• Payables exist for CoStar, Co-Star and CoStar Group

• Unit Turnover and Maintenance• Avg Days Vacant are 100 days or higher• Days to make units ready is 7 in nearly all turns• Nearly all service requests completed same day


What’s your data strategy?• Determine your KPI’s• Clean up your data sources• Hold vendors accountable


Methods & Tools of Today& Tomorrow


Business Intelligence & Predictive

Analytics

People, Product, or Price?


Smarter Tools Allow Faster Decisions


Benchmarking and Data Trends

• Proactively strategize

• Deliver confident analysis to investors

• Set KPI’s and stretch goals

• Provide tools to teams for leasing


How can we pare it down?


Q&A


Thank you!

machine learning - national multifamily housing council€¦ · machine learning for multifamily...

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