September 28, 2018
We’re a little obsessed with data, but not just any data.
First-hand data that we gather ourselves directly from clients, employees and landlords has enormous potential to influence the outcome of real estate transactions and propel businesses operations forward in ways that were unimaginable a generation ago. It’s infinitely more powerful than buying off-the-shelf data from generic sources because it’s personal and richly detailed and directly from the source.
Companies like Google and Facebook are masterminds at this. They gather troves of first-hand data based on our search history and past purchases, and use it to target us more accurately with products and services we are predisposed to buy.
Sophisticated first-hand data is no longer a luxury. It’s a necessity.
I recently heard the chief marketing officer of a major digital marketing agency speak at a conference, and she had some sobering advice: If you don’t tap into first-party data from your customers, vendors and clients, you are hosed.
We couldn’t agree more.
We started Transcend with a vision of gathering as much first-hand data and human intelligence as possible, and we use that data to make better decisions and get better outcomes for our clients.
We know which landlords are likely to agree to concessions that materially improve the economics of leases. We track how buildings perform over time, and whether unexpected costs arise. We use culture surveys to gauge how happy and engaged employees are.
Our data-driven approach is a transformational concept that impacts the bottom line for our clients, strengthens their business operations and makes their workers more productive. We can even track improvements over time to show the powerful impact new office space can have on supporting business growth.
We’re experimenting with even more granular first-hand data from sensors that capture movement throughout the office and use of space, and we’re looking forward to incorporating those insights into our work in the coming months. We’re pretty sure the data will reveal some surprises and trends we would have never noticed otherwise, and we’re equally certain that those findings will strengthen our clients’ business operations in ways we can’t imagine yet.
–Patrick Braswell, Founder & CEO of Transcend