by Brianna Crandall — September 21, 2018 — OSCRE International, the international consortium for the development of real estate information standards that bring digital information together from multiple sources and platforms to build high-performance organizations, announced last week two new initiatives designed to help propel the digital transformation of corporate and investment real estate.
Reference Data Model and related tools
OSCRE announced the development of a new Reference Data Model and related tools to facilitate the collection and exchange of data in common corporate real estate (CRE) transactions. It’s a comprehensive revision of the OSCRE Standards into one consolidated resource that provides a framework to drive CRE data strategies within organizations and their business partners, including:
- 7 core real estate functions are addressed, including lease management and portfolio information exchange.
- 90 specific use cases describe what the data model contains and how schemas can be extracted for use cases of your choice.
For example, users can identify and manage total occupancy cost (TOC), lease abstracts and service requests. Other real estate functions covered by this model include space management, investment performance reporting, and additional facilities management (FM) functions such as dispatching work orders and raising repairs.
Building Digital Competency in Real Estate certification program
OSCRE also announced a new web-based certificate program, Building Digital Competency in Real Estate, which helps industry professionals develop competency in business intelligence and analytics, CRE data aggregation and integration, data strategy and more. This new skill-building course adds to the OSCRE Academy’s education offerings, including the Data Governance Certificate Program. The curriculum includes:
- Developing a new systems strategy
- Business intelligence and analytics
- Data modeling capabilities
- Evaluating emerging technologies
- Integrating with global service providers and multiple CRE data sources
The program will be delivered in 10 monthly web-based sessions, and will be facilitated by experienced industry professionals. All sessions will be recorded for easy access.
Lisa Stanley, CEO at OSCRE, stated:
These two key initiatives demonstrate OSCRE’s commitment to collaboratively build the digital future of the real estate industry. In addition to providing tools for organizations to collect, aggregate and exchange information, we are committed to providing skill-building opportunities for real estate industry professionals to build their own digital capabilities. A real estate industry with a robust digital foundation is critical to implementing a variety of technology applications such as artificial intelligence and blockchain.