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Data Chatter

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3 min read

Working in various businesses for almost five decades now, perhaps the most significant change I have seen is the dependence upon data. Decisions that once were based on instinct now demand evidence. Professional athletes are drafted only after intense data analysis. Movies are put into production by studios only after detailed audience demographic and preference analysis. Political policy positions, once based on values and conversation, now wait for polling. Data rules. It’s everyplace we look. It’s the international language. Once we all spoke in words, now we all speak in numbers. But once you have the data, how do you put it to the best use, to reduce risk, to improve results?

Two summers ago in Newport, RI, the National Housing & Rehabilitation Association held its first day-long session focused on asset management. Joe Wishcamper of Wishrock teed up that session by asking, “How do you do data analysis without suffering from data paralysis?” Much of that day was devoted to our industry trying to find its way out of the woods, trying to define asset management, which, it turned out, many companies in attendance chose to approach quite differently.

And that has been the gist of the ongoing asset management conversation in our industry.

Since Newport, NH&RA has hosted two subsequent events devoted to asset management, the most recent this past June in Baltimore, attended by 117 representatives from 71 companies. The level of interest shows the priority the topic has become.

In this month’s issue, we attempt to continue to clarify and expand the view of asset management with stories derived from, or inspired by, discussion at the Baltimore event. As you will see in these pages, as the discussion has progressed, it has gotten more specific.

When adding a new department to an operation, you always risk conflict with previously existing departments. Ideally, asset management is a needed complement to property management, one taking the long range view, the other the short.

How do owners cultivate that relationship? Staff writer Mark Olshaker, who was in attendance in Baltimore, asks asset managers from several member companies. (Building Your Team)

Instead of surveying a series of companies as we did in previous issues, we thought one way to demonstrate effective asset management was to drill down on the day-to-day activities of one company’s staff. So, we asked the peripatetic Mr. Olshaker to trail Kevin Rose and his team assigned to avoid data paralysis at Wishrock. (Watching Wishrock) Elaine Magil of TCAM, the Boston-based firm that provides asset management training to so many member companies, takes a look at the choices you need to make while Managing Capital Expenses. And NH&RA’s Executive Director Thom Amdur looks at disruption in other businesses and how this contemporary phenomenon may actually benefit our business. (New Developments)

Also, for those of you concerned with senior housing, in these pages, you will find something a bit different from our usual content—a guide to spotting elder abuse compiled by our office neighbors at the National Reverse Mortgage Lenders Association and National Aging in Place Council. We consider it an important tool for the staffs that deal with our aging population.

Marty Bell
Editor