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Benefits of Implementing Data Standards

  Industry Data Model   >   Benefits of Implementing Data Standards
Benefits of Implementing Data Standards

 

INTEGRATE

Integrate your systems, databases, processes, lines of business and business partners

 

BUILD

Build your skills and capabilities to drive innovation and implementation

 

ENSURE

Ensure the highest possible data quality, data governance, transparency and compliance

 

PROTECT

Protect your proprietary data models and core capabilities in your business

 

LEAD

Lead the change critical for your successful shift to an information-enabled business

 

EXPAND

Expand portfolios, investments, markets, and your business partnerships   

The OSCRE Industry Data ModelTM (IDM) brings many benefits:
  • Better information, better decisions, improved performance
  • Foundational to an information-enabled business model
  • Speed and ease of integration and delivery
  • Consistency, quality and accuracy of data
  • Data for analytics and business intelligence
  • Lower overall cost of ownership of information and systems
  • Improved data governance and risk management
  • Better workflows and process integration 
  • Common definitions and metrics
  • Align with benchmarking organizations
In addition to these benefits that the OSCRE IDM offers, individual use cases, and collections of use cases developed together in a project, may have additional benefits that arise from those use cases specifically. Some  projects will also include an "Implementation Business Case" which provides a consolidated list of the business benefits derived in a form that can be used to help your organization build a business case for implementation.
An area that is gaining increased attention is the Lease Abstract, both from an occupier, property manager and owner's perspective. The current environment has brought the lease to the forefront of negotiation by tenants and owners with an extended absence of the workforce returning to the workplace. Having the lease abstract readily available enables both sides to effectively discussion modifications to the current contract.

“We have a mission to improve the quality and consistency of data along with the ease of integration across the real estate industry. That’s what our open and connected philosophy is all about. Working with OSCRE has enabled us to revolutionize the way we process data internally and for our partners, leading to a significantly improved experience for our clients. OSCRE is a pioneer in both standards design and thought leadership. We’re delighted to continue supporting them on this journey, especially with their recent introduction of the first phase of the new ESG data standards.”

Pat Ghilani, CEO
MRI Software
 
"The launch of the UK Housing Data Standard Powered by OSCRETM is a watershed moment for how the social housing sector goes digital. It demonstrates the willingness of our sector to fully embrace a digital future and drive greater insight through the data we collect and use. It lays the necessary foundation to move us from a sector characterised by ‘bad data’, to one that places standards at the heart of our data processes and governance.”
Andrew van Doorn
Chief Executive, HACT
 
“Anytime we’re able to connect to our customers or the systems they’re using in a standardized format, it drastically decreases the time to value. Adopting the OSCRE Industry Data Model as an option to push or pull data has been instrumental in streamlining the process of getting our customers up and running as well as getting critical data back to them.”