New research from 451 Research surveyed decision-makers and practitioners within the commercial real estate sector in the United States explored the current and future opportunity of location intelligence within the commercial real estate market.
Here are some of the key findings:
- Location technology is viewed as a strategic data-driven investment that drives competitive differentiation amongst commercial real estate professionals (74%). Nearly the same proportion (71%) believe location intelligence will be an important differentiator in the near future (i.e. 2-3 years).
- Commercial real estate organizations investments in location intelligence are driving positive business outcomes. Digitally driven organizations (57%) are on the leading edge of the market, being both early adopters of new technologies and executing on formal digital transformation strategies, offering perspectives on location intelligence best practices. These organizations are also twice as likely as their delayed counterparts (74% vs 37%) to find it highly important for their competitive differentiation to use location-specific predictive analytics to aid in site selection. Just over three-quarters (76%) of digitally driven orgs completely agree that their organization’s investments in location intelligence have helped them, or their clients and/or partners, achieve desired business goals (i.e., ROI, business growth).
- Significant increases in spending on location technology are expected in the future due to the value it brings to the organization. More than 9 in 10 (92%) real estate executives anticipate their organization’s overall spending on location technology to increase over the next two years, with 72% of digitally driven companies completely agreeing that their organization’s current location intelligence software offers high value for the cost.
To glean more insights, download the full report. You’ll learn about:
- Commercial real estate executives’ attitudes towards location technology and top use cases, today and in the future
- Opportunities to overcome key challenges in utilizing location intelligence to its full potential
- Business outcomes commercial real estate teams are realizing by leveraging location technology
- …and more!