The rise of property technology – better known as PropTech – has been explosive in recent years. New solutions are designed to make real estate development, operations, and management more efficient and intelligent.
Many of these new companies have been forced to handle data collection themselves because the existing data infrastructure in buildings simply isn’t good enough. As a result, vast resources are spent on managing data – resources that could have been used to further develop innovative solutions.
And worse, real estate companies often end up paying to collect the same data multiple times, to use it across different systems.
– That everyone is trying to solve the same challenges in isolation is a clear sign that PropTech is still an immature industry. Specialization and collaboration with the intent of sharing the best possible data is essential to unlocking the full potential within commercial real estate.
Kristian Vennemoe, Managing Director at Å Insite.
Closed data silos are more than just a technical issue; they are a major roadblock for innovation and progress in real estate. When different stakeholders protect their own systems and data flows, the industry as a whole misses out on the synergies that could be achieved through collaboration and a shared focus on data quality.
– We see signs of gatekeeping, with service providers treating energy data as their own property after investing heavily in its collection.
Petter Hessen, Head of Sales
This silo mentality has also led to another critical issue: problem: the lack of standardized data quality.
The absence of clear standards and transparency weakens trust within the value chain, as no one can be completely sure whether the information they receive is accurate.
Poor data quality also limits the potential of buildings and slows down progress toward sustainability goals and lower carbon emissions.
While some companies may see transparency as a short-term revenue risk, the long-term benefits for the entire industry are far greater.
Closed silos and data gatekeeping can no longer be the norm in an industry that depends on precision and speed. Å Insite is not here to compete with existing solutions – we’re here to make them better by providing a stronger foundation.
We deliver structured, reliable data to all relevant systems through our API. When data is accurate and tailored to real needs, you can achieve more efficient and sustainable operations.