How Trendy BI Elevated a Main Property Developer

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Shifting from conventional, out-of-the-box knowledge and analytics instruments to a contemporary BI platform not solely means that you can get higher studies and dashboards, however achieve a brand new aggressive benefit. 
 
That’s one main property improvement firm’s perception, at the very least. And through a current Domo-hosted webinar, Wooden Companions’ enterprise intelligence supervisor, Ritwik Bhatia, made that feeling clear. 
 
“We’re actually happy with the very fact that (within the final three years) not solely have we constructed the kind of reporting expertise we needed to construct,” mentioned Bhatia, “however it was really easy for our property administrators to purchase in, and for our asset administration staff to make use of it—and we’re seeing the outcomes.” 
 
Wooden Companions began its journey towards turning into a modern-BI-driven group when key figures inside the Atlanta-based enterprise seen or acknowledged that consequential selections have been being made throughout the whole enterprise based mostly on knowledge that was a couple of days outdated and lots of occasions now not related.  
 
On the similar time, they concluded that Wooden Companions wanted to be extra proactive and “not simply wait within the passenger seat and see our enterprise unfold earlier than us,” Bhatia mentioned.  
 
One of many key steps at that stage—if not the largest step in the entire, transformational course of to this point—concerned partnering with Domo, which provided the two capabilities Wooden Companions was in search of most in a extra trendy BI platform: flexibility and customizability.

“We would have liked our new BI device to not simply be a reporting engine,” Bhatia mentioned, “however to create an expertise such that everybody can leverage their very own distinctive backgrounds to name out and act on the insights. And that’s what we’ve obtained.” 
 
With the platform, Wooden Companions additionally has one thing that enables the 2 important areas of its enterprise—property improvement and property administration—to take care of alignment, as a result of “everyone seems to be trying on the similar numbers, all the time, and so they’re utilizing issues like the chat characteristic (Buzz) to share playing cards and studies with one another,” Bhatia mentioned. 
 
The affect of that cohesiveness is now influencing one other mission: the event of a portal that allows Wooden Companions to prolong its knowledge to exterior stakeholders by way of Domo’s award-winning embedded analytics answer, Domo In all places
 
“With that,” Bhatia mentioned, “our funding companions have the identical reporting and the identical dashboards at their fingertips (by way of Domo’s cellular app) that our property administration groups consult with day by day. We’re (constructing this portal) to strengthen relationships and to make it possible for the whole means of creating a property deal goes easily.” 
 
For organizations which can be considering following Wooden Companions’ blueprint, Bhatia mentioned they have to first embrace two truths:

  • loads will be achieved rapidly as soon as platform implementation begins … however it’s all the time going to be an iterative course of; and
  • the true breakthroughs don’t come till you’ve constructed a tradition of information literacy, whereby everybody believes within the knowledge, is aware of the way to leverage it, and is inquisitive about the place it would lead them.

From there, different doorways swing open, revealing what else is feasible with a contemporary BI framework, corresponding to the flexibility to do one thing that creates bona fide distance between you and your rivals: take clever motion on knowledge insights, as a result of they’re offered on the proper time, to the appropriate individuals, in methods which can be straightforward to grasp.

“The side (of Domo) we’ve actually come to profit from is the way it helps us prioritize,” Bhatia mentioned. “There’s a lot by way of numbers and knowledge in our enterprise that it may be onerous to floor your self. However (Domo) offers us a spot to begin, and makes it straightforward for anybody to see so as of precedence what property they should deal with by way of options so simple as color-coding.” 
 
Watch the webinar to be taught extra about Wooden Companions’ trendy BI journey, together with the way it has affected the corporate’s repute and why it’s prone to function an even larger driver of progress in 2022.




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