Understanding the Data Health Dashboard

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Please note, for our Asia-Pacific users, certain terminologies will differ from other regions. For instance, 'Tenancies' are referred to as 'Leases' in North America, and 'Outgoings' are known as 'Service Charges' in the UK. Throughout this article, we'll be using the terminology accustomed to the Asia-Pacific region. For further clarification on regional terminology, please consult our Glossary of Regional Terminology

 

This article is designed to introduce you to the Data Health dashboard available to all Insights users in Re-Leased. The dashboard serves as a powerful tool for analyzing the quality of your data related to properties, areas, and tenancies. Enhancing this data not only improves its accuracy but also amplifies the effectiveness of managing your commercial real estate portfolio. We'll guide you through getting started with the platform, how to interpret the information in the dashboard, and actions you can take to improve your data's health.

Getting Started with the Data Health Dashboard

To access the Data Health dashboard, follow these steps:

  1. Navigate to Insights and select the Operational dashboard down the left-hand-menu.
  2. Select Data Health to open the dashboard.

At the top of the Data Health page, you'll see highlight score tiles that provide your overall Property Score, Area Score, and Tenancy Score. These scores reflect the completeness and accuracy of your data in Re-Leased. Utilizing filters and drill-through options can help you identify and rectify any missing or incorrect data entries.

 

Interpreting Data Health Tiles Information

The Data Health tiles showcase your data health through two primary metrics:

  • Issue count: This figure indicates the number of issues detected, such as missing property owners.
  • Accuracy percentage: A percentage representing the data's correctness — aiming for as close to 100% as possible suggests better data health.

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Understanding Conditional Color Grades

The dashboard employs color-coded grades to visually represent the data score's performance:

  • Green suggests a higher score, indicating healthy data.
  • Red indicates a lower quality score, signaling areas for improvement.

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Key Metrics and How to Improve Your Data Scores

Property Data Health

Improve your Property Score by ensuring correct and complete information for:

  • Property Owner - The property owner, often also referred to as the landlord or property owner, is the legal entity or person who holds ownership of the property. Accurate property owner information enables effective monitoring, reliable stakeholder reporting, and provides more accuracy in the owner insights.
  • Property Type - The property type information is used within the Operation Summary, Yield and Valuations and EPC dashboard in Insights. Allocating correct property types allows users to scrutinize slices of their portfolio more efficiently.
  • Property Valuation - Is used to accurately present Yield and Valuation metrics within the Strategic Insights suite as well as to present valuation figures in the Property List report. Without the correct current valuation being present critical metrics like yield will be skewed.
  • Property EPC - The property EPC rating information is used to inform the EPC rating dashboard within the Strategic Insights suite. For vigilant owners and managers, any revenue or valuation associated with an EPC rating lower than C is being scrutinized constantly.
  • Property Manager – The property manager information is used to populate information within the Team Performance and Management fees dashboard in Insights.

Updating these details in Re-Leased can increase the effectiveness of stakeholder reporting, valuation accuracy, and more.

Area Data Health

The Area Score tile displays an aggregated view of all area-related information and is used extensively to feed into various metrics displayed in Insights. By improving the Area score, users can ensure multiple dashboards include accurate information.

  • Area size - Area sizes are important for accurately displaying Operational Summary, Tenancy Management as well as Void and Vacancy metrics. This tile highlights all measurable and active areas with an area size of <= 1. Area size is the most widely used common denominator in Commercial Real Estate
  • Market Rent - Market rent is a growth and target indicator. This is used within the Void and Vacancy dashboard and Executive Summary dashboard within the Strategic dashboard suite.
  • Area EPC (UK-specific) - The EPC ratings dashboard utilizes Area EPC rating data. Owners and managers who pay close attention are regularly examining any valuation that corresponds to an EPC rating below C.

Tenancy Data Health

The overall Tenancy Score record contains key information used for displaying and filtering various dashboards in Insights. Tenant information is also used extensively throughout various other areas within Re-Leased such as Reporting, Budgeting, Invoicing and Maintenance management.

  • Tenancy Type - Users with various lease types will find it valuable to examine their dashboards specific to each lease type. This information is used within the Tenancy Management dashboard to focus on a particular contract type and all upcoming events.
  • Tenancy Form Type – Tenancy Form Type is used as a sub-category for lease types to segment them with further granularity. Tenancy Form Type is often used to highlight the condition of the lease type, e.g. Inclusive or Short term.
  • Tenancy Industry - Two of the most common ways of cross analysing a portfolio are by the property type and the tenant industry. The tenant industry information is used extensively within the Tenancy Industry Exposure dashboard as well as in various reports within the Report Builder.
  • Tenancies Without Terms – Tenancies Without Terms affects the accuracy of information displayed within the Executive Summary and Void and Vacancy dashboards.
  • Tenancies Without Rent – Tenancies Without Rent impacts various reports within Re-Leased including the Tenancy Schedule and Tenant List that are available in the Report Builder, as well as Insights dashboards such as Tenancy Management, Operational Summary and Yield and Valuation.
  • Tenancies Without Areas – Tenancies Without Areas causes a number of disruptions as all activities related to these tenancies displayed in this tile are disconnected from their actual area. Impacts will also be seen on various reports within Re-Leased such as the Tenancy Schedule, Tenant List and Vacating Tenancy Report. This could potentially skew your Void and Vacancy dashboard metrics as well.
  • Expired Tenancies -Expired Tenancies shows any tenants that have past their expiration date but are yet to be renewed or vacated. If left in this expired state, these tenants are still considered to be current area occupants which skews occupancy rates.

Keeping tenancy information comprehensive and up-to-date directly enhances the analytical power of Insights and the reporting capabilities within Re-Leased.

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