Building a data-driven organization within Real Estate.
Data-driven Real Estate
MKB is a municipally-owned Real Estate company located in Malmö Sweden. MKB is one of the largest public Real Estate companies in Sweden.
MKB is the largest Real Estate company in Malmö, with over 26 000 apartments and 1 000 commercial facilities. MKB’s long-term focus is social, environmental, and financial sustainability, together with the goal of providing the best property management and being an attractive employer.
MKB has access to a lot of data. The challenge was data being in many different systems and a lot of manual processing, to deliver statistics and reports each month. A lot of data was collected in spreadsheets, and it was hard to follow trends, process flows or identify the link between cause and effect.
The aim is to reduce the manual workload for each employee, to make the reporting automated, where possible. This will not only lift a heavy workload but will also decrease the number of errors compared to reports that are being made manually.
“We have a vision where each employee should be able to access relevant data, to help them with insights and spending time taking actions based upon data, instead of collecting and presenting it.” says Anders Pettersson, Information and Analysis Manager at MKB.
2021 a project was launched with the aim of creating automated reports for each department, based upon each departments’ needs. Stratiteq has been involved during different parts in the process:
- workshop facilitation
- identifying/documentation of the needs
- defining the right KPIs
- capturing and processing data
- building reports in Power BI for each department
- educating the organization in using the reports.
“We make a difference for everyone involved when we present relevant KPIs that were not easily accessible before” says Pernilla Klein, Business Consultant at Stratiteq.
MKB has started their data-driven journey already in 2020 by setting up a data warehouse with relevant and accessible data. Stratiteq was involved early in the process, by building the data warehouse including data from the property management system PM5 and other relevant internal sources. This fundament makes it possible to combine data from various sources and create new insights for the organization.
The data used in the reports are from different internal sources, like property management, financial and case management data. Tenants’ behaviour information such as deferment/collection, moving out patterns, as well as customer feedback information, are collected and presented in the reports. The information is presented on the different residential areas, making it possible to follow indexes and development over time.
“With the rollout of the project to all departments, more data sources have been identified. The work with the data warehouse continues for us to create relevant reports” in each area says Magnus Jönsson, BI consultant at Stratiteq.
The team from Stratiteq has helped MKB create meaningful and actionable insights, by combining data with visual analytics. New KPIs and new data sources have been defined within the project.
The overall objective was to get the right data to the right individual at the right time. The aim was also to automate manual processes and make the results accessible for all employees through Power BI visualizations. The data presented in the reports will not only make it possible for MKB to understand processes and trends, but also make it possible to act based on facts, not gut feeling.
“We have been able to change our way of working, with the new reports in Power BI. The reports help us identify trends and detect abnormalities that we act upon in a way that we could not do before. We can also see a ripple effect between the different departments and are creating a backlog with new requests from the departments.” says Anders Pettersson, Information and Analysis Manager at MKB.
The work together with Stratiteq continues and will include more departments during 2022.