Introduction :
Residents will always seek apartment buildings with the best amenities. Luxury properties demand even more attention to availability, design, and maintenance of these amenities.
How to plan the right amenities for your properties using actual data from your own properties from your own residents? How can you leverage cost effective analytics to capture and analyze the right data? In short, how would you set up and benefit from actionable analytics to improve your resident experience?
Value of real time data :
Multifamily executives need to make many decisions. Good decisions need real and unbiased data. This data can be broken down to multiple levels each going deeper into understanding the customer.
First Level question: What is the most popular amenities when occupancy is compared across my properties in various cities and income levels
Second Level question : How are these amenities used? For example how lounges need to be planned, What equipment needs to be procured to make my fitness amenities stand out etc.
Third level question: Are the amenities maintained well so my residents enjoy them? Is cleaning happening on time? Is my dog park clean and inviting? Are the spaces safe?
This phased analysis shows that a 360 degree view of all spaces with the ability to analyze context is the most valuable.
Tech options seem plenty, but not actionable!
There are plenty of options that integrate occupancy sensors or people counters using cameras. The gap between basic occupancy data and having actionable insights into your resident needs and trends is still largely untapped.
For example, you could get zone level occupancy raw data from either sensors or cameras outfitted with AI capabilities across your buildings. The cost point for AI cameras is very high and the data is limited to just the first level question of people counting. Absence of actionable analytics limits the use of the data for continuous operations and to make informed decisions.
In order to maximize value, the chosen tech needs to not just be low cost (No new hardware) but also be able to provide rich data into your existing business systems. The data needs to be context scalable i.e should be capable of supporting Level 1, Level 2 and Level 3 analysis.
Moii’s Solution:
We have evolved AI applications to work with any commercial cameras that you have already invested in and run our patent pending machine learning pipeline that is geared towards extracting necessary context for rich data for Level 1 thru 3 type analysis. This combined with our industry leading data science algorithms convert this rich data into actionable insights and serve through context specific real time web dashboards and iOS/Android mobile applications. The apps are geared towards providing a 360 degree context of your spaces so you can drive processes and decisions for the best resident experience.
This data also is ready to integrate through API or messaging directly into our customer workflows and systems for operational use.
What to expect in terms of results?
Our customers now have live dashboards to compare usage of various amenities within and across their portfolio. This has allowed them to visualize which amenities stand out overall and deep dive into why some properties have more per resident usage than others. This has allowed them to prioritize design elements and square footage for new amenities which has resulted in making data driven decisions for millions of investment dollars.
In addition, this data is provided to residents on their own mobile apps so they can see real time availability of amenities in case they want to go down to use the treadmill or go for a quick swim. All this from the comfort of their own apartments thereby enhancing resident experience.
Within the most popular amenities, our customers have clear insights into how the residents use the amenities(Level 2 and 3 context). For example, data on popularity of specific types of gym equipment has allowed decision makers to plan the right future purchase decisions for the best resident experience. Another example is data on types of activity like use of lounges for remote working or large parties allowing improved building policy making and more responsive maintenance schedules.
This is combined with additional insights into facilities schedules, front desk real time intrusion notifications as well as safety monitoring to provide a 360 degree real time and historical view of activity. The benefits of leveraging Moii’s software is now cross functional at an affordable cost point.
