Data is the cornerstone of successful senior housing investments. It informs strategic decisions, identifies market trends, and ultimately drives profitability. However, not all data providers are equipped to deliver the insights you need to achieve maximum returns.
Relying on a data provider that doesn’t meet all of your needs forces your team to manually gather and manipulate data, which can significantly impact both efficiency and performance.
Here are three signs that your current data provider may be hindering your investment performance. Read on to learn what to watch out for - and how to adjust your approach.
Sign #1: Your Data Lacks Long-Term Perspective
Your data provider should allow you to easily view market-specific historical data plus forecast future market demand and supply. Additionally, it should include both market and care type segmentation so that you can quickly find and compare patterns over time.
By providing wider trend analysis capabilities, a data partner can help investors identify emerging opportunities and potential challenges. Without this long-term perspective, investment decisions may lead to overvalued assets, missed investment opportunities, or suboptimal portfolio allocation.
Make sure that your data tool offers:
- Historical data to establish baselines and identify trends
- Long-term market forecasts to inform investment strategies
- Scenario planning to assess the impact of different market conditions
Sign #2: Your Data Provider Isn’t Delivering Actionable Insights
A true data partner will not only provide raw data but also offer in-depth analysis based on a comprehensive dataset. Your tool needs to include a wide range of data points like occupancy rates, market and submarket demographics, care type segmentation, supply and demand forecasts, market conditions, and competitive intelligence. It should provide context and give options for customization. Without a holistic view of the market and your portfolio, it is difficult to identify meaningful trends, opportunities, or risks, which could hinder your ability to capitalize on growth opportunities.
Make sure that your data tool offers:
- Comprehensive datasets that encompass every aspect of the senior housing industry
- Access to both property-level and market-level data
- Continuously expanding data offerings to stay ahead of industry trends
- Regular performance benchmarks to compare portfolio performance to industry standards
- Context to deduce meaningful insights from the numbers
Sign #3: Your Data Infrastructure Isn’t Scalable or Efficient
A flexible data infrastructure is essential for a rapid response to market opportunities. Your tool should not require days or weeks of manual effort to pull the data necessary to analyze a new opportunity. Investors need the ability to quickly analyze data across different geographic regions, property types, and competitive landscapes. A data provider that cannot adapt to changing investment opportunities will hinder decision-making and limit potential returns.
Make sure that your data tool offers:
- Customizable data views to support various investment strategies
- Rapid data aggregation and analysis for quick decision-making
- Comparative performance data across different markets and property types
The right data provider can be a powerful asset for senior housing investors. By recognizing the signs of an underperforming partner, you can take steps to optimize your data strategy and drive stronger investment returns. If you’re concerned that your current data provider isn’t delivering the insights and support you need, consider exploring alternative options.
