Atlanta — New data warehouse intended to use benchmarking, facts, market-specific past performances to push rents throughout the company’s portfolio.
Atlanta — Peak Campus Management has developed and implemented data-gathering and reporting technology that it says will take the “gut feelings” out of important strategies and procedures, such as setting rental rates. The Atlanta-based company has launched a new internal department focused on business intelligence that has a corresponding data warehouse. The new system, which has been in development for approximately the past year, aggregates information the company accesses on a daily basis. To lead the process, Peak hired a business intelligence manager who partnered with each of the company’s software providers to allow for daily feeds into the virtual “warehouse” and also worked to digitize several other key reports Peak uses to guide market-specific strategies. “The result is a single-source business intelligence system compromised of several user-friendly reporting tools that can access our consolidated data warehouse,” says Peak Campus President Bob Clark. “The warehouse includes cleansed and optimized data from both internal and external source systems from which we can query customized, on-demand reports.”
The data warehouse encompasses information generated across all of Peak’s various independent systems such as IT, training, operations, human resources, market intelligence, marketing and more. Consolidating this information is intended to help the company better identify, recognize and react to trends at an individual market level.
Clark adds that the system measures “what we want, and what we have access to.” Unlike a broad-based metric service, such as Axiometrics, Peak’s system is gathering information the company aggregates from its own various systems on properties it manages on the performance relative to competitive properties in each local market.
“A good example [of a typical problem the data sourcing instrument could solve] would be the impact that this system will have on efficiency and information during the rate-setting process,” Clark says. “We all know that there are a number of variables that go into those decisions. Enrollment trends, market performance, new supply, on-campus housing occupancy, tuition trends, historical performance, rate trends in the local market, etc. Our data warehouse will allow for us to aggregate the vast majority of this data into one report, so that we can both plan better for the future, as well as look back at how each of those variables affected the local markets in the past. All of this was designed to remove ‘gut feelings’ from our decision-making processes as much as possible. We want real, empirical data to guide our strategies, and this system is designed to do just that.”
Peak Campus Management currently oversees 60 properties at approximately 31,000 beds valued at more than $1.8 billion for investors nationwide.