3 Concerns About Data Analytics
Are data analytics too costly? Not valuable enough? Do they create a Big Brother atmosphere? Here are three concerns FMs may have to overcome about workplace analytics.
Data analytics are value drivers for efficient and cost-effective use of workspace and personnel on a daily basis. Yet some organizations are reluctant to adopt and leverage this technology, especially those with medium or smaller-sized companies as clients. Usually their apprehension is based on one or more of the following concerns:
Concern #1: Analytics are too expensive. If there is one constant about technology, it is that costs decline with each advance or refinement regardless of the application. Business Insider, in an article on this very subject, concluded “as technology gets more advanced, prices drop and products get better.” The only exceptions according to the publication are “cable, satellite TV and radio service.”
Concern #2: Leadership will not buy in to the value proposition. Here again, the data shows analytics are value drivers capable of significantly reducing operating costs and increasing ROI. To prove the point, corporate real estate and facility management professionals need only access their search engines for numerous case studies of successful corporate and commercial use of workplace analytics.
Concern #3: Employees fear an analytics-based Big Brother surveillance. Of the three fears, this one requires the most up-front explanation prior to initiation. Nothing can be more damaging to morale and retention rates than a perception that the company uses analytics to spy on personnel. A clearly-defined system of data governance along with collaborative discussions with employees may help ease those concerns.
To achieve optimal results, corporate management needs to work closely with its corporate real estate and facility management specialists on the issue of costs versus ROI. Equally important is to ensure those professionals, whether in-house or outsourced, have the background and training to fully navigate and leverage the data. It is incumbent upon the company to develop comprehensive policies on usage and data management and to stay on point to accomplish desired outcomes.
Data analytics are a vital tool for assessing the value and best use of office space. Data-based results present a clear picture detailing cost-effectiveness, optimal use of workplace and personnel and, of course, the ROI for making these changes a reality.
Workplace analytics are the foundation for corporate real estate and facility management credibility with findings and analysis to help executive management make informed decisions on every aspect of office space. Maintaining and profiting from an agile office capable of adjusting with minimal cost and effort are no longer futuristic visionary possibilities. Thanks to sophisticated programs and their ability to leverage the data, they are realities that merit serious consideration.
It may not be accurate to simply conclude that analytics have changed the traditional office environment. Instead, it is more likely that analytics are bringing an end to the traditional workplace as we know it.
Drew Suszko is lead strategist/architect with BHDP Architecture, designing environments that affect the key behaviors necessary to achieve strategic results for clients in the workplace, higher education, industrial, retail, and science markets.
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