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Predictive Space Analytics For Portfolio Management

Corporate facilities leaders are focused on optimizing attendance and deciphering how to provide accommodations that employees actually need. 

A few years ago, companies were using clicker studies and sensors to collect office usage data and make workspace design decisions. Now, they are taking advantage of software and existing infrastructures like Wi-Fi to gather predictive analytics and inform their hybrid work strategies. 


THE HYBRID SOLUTION STARTS WITH PREDICTIVE ANALYTICS 


Organizations started experimenting with manual clicker studies and sensor-based data for campus space planning, but that only got them so far. Today’s software-based solutions and spatial intelligence can harness utilization metrics – and are scalable, cheaper, and faster to get started. The information is anonymized, so visual representations are provided without PII.  For example, the Lambent Spaces platform allows users to uncover occupancy analytics and track patterns over time, relying on historical views to predict how a space will be used in the future. 

When it comes to allocating space or making costly decisions to add or build space, predictive analytics can provide critical data to decision-makers. 


PREDICTIVE ANALYTICS CAN HELP: 


  • Cost savings –  What many companies don’t know is that an investment in smart space planning software can save them money per square foot and help them find cost savings at scale. For example, predictive analytics and space utilization software can help decrease deferred maintenance costs by providing data for relocations. 
  • Reorient spaces – Predictive analytics can help facilities leaders reorient the workspace in a way that yields increased engagement and collaboration and lure employees back into the office. Companies like Amazon have begun to reevaluate their office designs in order to meet future employee needs. The pandemic has changed the way people connect and work, so it’s crucial that office buildings reflect that. 
  • Forecast new property investments – Space utilization data allows space planners to predict future utilization patterns and pinpoint what spaces are occupied and aren’t. This information can help facilities leaders with lease decisions. Corporations can decide whether they need to expand or reduce their office spaces. This is known as Capital Expenditures or funds used to acquire, upgrade, or maintain capital assets.  

HOW CAN COMPANIES USE PREDICTIVE ANALYTICS TO RE-ENGAGE EMPLOYEES? 


Companies can use space utilization software from Lambent to measure occupancy and utilization patterns in order to make future spatial decisions – and in the end, save money. 

Using predictive analytics, we are able to aid space planners by showing them where underutilized spaces exist based on usage over time. Lambent works with Strategic Space Planners across the U.S. to optimize office spaces and help drive decisions around building leases and scheduling. 


WHAT ABOUT THE NEW CAMPUS EXPERIENCE?


We also help Higher Education officials prepare for the next chapter of on-campus learning by allowing them to solve space disputes and meet new space requests with hard data.

This sort of data is shared between offices including Space Planning, CIOs, Chancellor, and the Registrar. We help universities like the University of Tennessee Knoxville redefine and connect their campuses with modern cloud technologies

Want to learn more about Lambent space analytics solution? You can visit our website or reach out directly to sales@lambentspaces.com for a quick demo.

Alex Trotto contributes to the Blog and Social Media channels for Lambent. She is currently a Northeastern University student in her sophomore year.

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