Actionable intelligence - where F1 meets corporate real estate

At first glance the glamorous, high-octane world of Formula 1 racing might seem miles apart from corporate real estate management.

 

Although the differences between the two are obvious, both disciplines rely on turning big data into actionable intelligence, according to

Jim Newton, Market Development Director at McLaren Applied Technologies and Ken Raisbeck, Vice President Global Workplace Strategy with Johnson Controls Global WorkPlace Solutions (GWS).

 

Jim Newton, Market Development Director at McLaren Applied Technologies

"We can see how some of our principles at McLaren may apply to corporate real estate,” Jim Newton says. “Both involve an understanding of people and the physical environment in order to get the best results."

 

He believes the next phase of development within real estate will be to consider the people, equipment and operational environment in a more holistic and predictive way.

 

“In the real estate management industry you are already optimizing the real estate and the equipment assets. The opportunity lies in integrating those things for strategic and tactical insight, but also in bringing an additional focus on the wellbeing of the individuals and the teams that live and work in that environment."

 

McLaren Applied Technologies applies technology and expertise learnt from operating at the very pinnacle of motorsport to other industries. Working across diverse sectors, such as transport, energy, sport, health and wellbeing, the aim is to drive efficiency and performance.

 

"We focus on understanding three things through data - the people, the equipment and the operational environment," Jim Newton explains. "If we can gain a wide, holistic picture of past and current activities in each of these areas, then we can provide predictions to anticipate future outcomes. We've used this in our racing business, but we are also partnering with other organizations to deliver critical operations in other industries,” says Jim Newton.

 

For example, in the health and fitness market, McLaren Applied Technologies is helping people adopt a more rounded approach, so they are not just focusing on their physiology and physical health, but also considering their nutritional and psychological condition.

 

Jim Newton believes that the key to success is to make the information that is gathered actionable. “We’re extremely focused on outcomes. There are many data measurement solutions out there and lots of people gathering data, but few are making real use of it to improve decision-making and operations. Our focus is not just on gathering data, but turning it into usable insight. The challenge is to move from an understanding of what has happened in the past, to what is happening now, and then to make informed and useful predictions about what might happen in the future.”

 

It is rarely a prescriptive operation, where the system presents a single option as the best way forward. More often it is about predictions formulated on several scenarios, with decisions made from a more informed point of view.

 

“It is tempting to look at McLaren and think that we thrive on lots of data, but we only collect what we need. You can have all the data in the world, but unless you can turn it into intelligence on which decision-making is better informed then there’s no point having it at all," says Jim Newton.

 

McLaren Applied Technologies draws heavily on the technology and expertise honed from McLaren’s Formula 1 activities. It also embraces the same mindset and approach.

 

“Much of what we do is embedded in our core beliefs about how to approach problems, design and decision-making. A lot of the things around wellbeing are rooted in our understanding of human performance in our racing activities with our drivers, mechanics and designers,” adds Jim Newton.  

 

Kenneth Raisbeck, Vice President Global Workplace Strategy with Johnson Controls Global WorkPlace Solutions

For Johnson Controls GWS’ Ken Raisbeck, the insight being used by McLaren could well be applied to the challenges facing corporate real estate executives.

 

“The ultimate outcome for the McLaren Formula 1 team is winning the race. Decision-making is critical in this environment, when do you push, when do you hold back, when do you pit? The analysis of real-time data helps the team make the right decisions. It is the combination of this insight together with human and mechanical performance that will determine your success,” says Ken Raisbeck.

 

“In the same way, when you are managing a real estate portfolio, you want to optimize performance. Everyone is talking about big data, but to us it's more about big insight. Managing a building portfolio involves making sense of complex data streams, but it's important to have accurate building intelligence that you can use. Data is everywhere, but you need to make sense of it and use it to enable decision-making."

 

All too often, Ken Raisbeck argues, assumptions are made, when what is actually needed is accurate profiling to predict occupancy levels and better-refine services, in the continual pursuit of a more intelligent model for supply and demand. Businesses need help to be more efficient, reduce their cost-base, as well as achieve better collaboration and smarter outcomes.

 

He argues that the ongoing challenge for the corporate real estate industry is to build closer links to the core business and contribute value. Some corporations are taking up the challenge, but there is still a long way to go.

 

"Making sense and simplifying data is the key to successfully enabling businesses to make informed decisions. Historically the corporate real estate industry has been good at making even simple things complex – it’s time to change. McLaren has very sophisticated analytics and algorithms, competence in measuring and monitoring real-time data at speed, and skill at using predictive technologies. When we look at the optimization of our corporate real estate business, there is a clear overlap between the two – that is to make better, smarter decisions more quickly.”

 

Racing cars and corporate real estate management – two different worlds, but both championing the same winning formula of turning data into actionable intelligence.

 

Back to top

 

WORKPLACE NOW LINKS
RELATED LINKS
JUMP TO...
Where F1 meets CRE
Suppliers Contact Site map Social Media Privacy Terms of use Feedback
© 2013 Johnson Controls. All rights reserved.