leading financial
institution
ocean
there was an
of data, from which actionable insights needed derived
the organisation could reduce its real estate footprint by more than
25%
Using data and evidence as a basis to drive “right-sizing” in CRE
decision making.
the opportunity
With the aim of creating more efficient utilisation of their real estate, this leading financial institution wanted to better understand how its workspaces within three of its large Sydney offices were being used. There was an ocean of data, from which actionable insights needed derived.
Detailed utilisation studies over the course of a month had audited individual workstations and meeting facilities | collaborative spaces. This provided intelligence about occupancy of spaces, the activity taking place in the space, and what equipment | technology was being used.
The client required a deep exploration and analysis of the data to better understand ‘camping’ behaviours being exhibited by their staff.
our approach
Puzzle analysed the raw dataset and undertook detailed multivariate analysis of the data. A total of 13,312 workstations were observed hourly over a five-day period and information was captured about whether the workstation was occupied, unoccupied or was temporarily unoccupied (i.e. no seated person at the workstation but with belongings present, such as a bag, laptop, water glass, jacket etc.); resulting in more than 530,000 datapoints.
Initial analysis was undertaken to establish attendance patterns and workstation utilisation ratios by site and level. The results were then compared with global benchmarks.
We undertook further analysis of workstations left temporarily unoccupied to determine the extent of ‘camping’ within each building and ascertain how many were temporarily unoccupied for two or more consecutive hours, in contravention of the client’s policy which requires staff at an agile workstation to fully vacate it if they are going to be away for more than two hours.
We then took the analysis a step further and ran a series of comparative analyses to see whether ‘camping’ behaviour appeared to be influenced by factors including workstation type (dual monitor, sit-to-stand etc.), day of the week, peak times during the day etc.
the results
Our analysis provided a deeper understanding of how their staff are using the workspaces, as well as factors contributing to ‘camping’ behaviours.
These insights would enable them to re-think space allocation and make more efficient use of their workplaces in the future. Based on the data captured the organisation could reduce its real estate footprint by more than 25%.
The project highlighted Puzzle’s ability to conduct complex multivariate data analysis and identify relevant evidence to inform high value property decisions and benchmark existing performance.
blueprint
change
transition