Planned communities, townsites, shopping centers and campuses generate data at the individual and organizational level, and from land, buildings and infrastructure. Where appropriate, a data trust can collect, analyze and use this data to make the best use of existing facilities, recommend improvements and even, in some cases, develop and monetize new products based on the data.
Of course, for this data to have value, the data trust must have the right to use and exploit all collected data in a manner consistent with applicable laws and any contractual license agreement, while protecting data and restricting access by others.
Data Sources and Uses
Potential sources of energy consumption and energy efficiency data include smart meters in homes and commercial units; utility provider information; charging stations for electric vehicles and community battery storage systems. Energy suppliers will be able to provide information on the energy sources used – for example, what percentage of energy consumed, where and when comes from renewable sources.
A data trust could, for example, use this data to recommend incremental improvements in energy use, energy efficiency and renewable energy use as part of a plan to reduce carbon emissions. on a development scale, or in relation to the renovation and rental of buildings.
This could then be accompanied by the national desire to further open up energy data within the framework of the Energy Data Modernization programa joint program by the UK government, Ofgem and Innovate UK building on recommendations from the Energy Data Taskforce in June 2019. These recommendations included requiring the UK energy sector to adopt more open data and the creation of a unified digital map of the energy system. system.
Data on car and public transport use, travel patterns, peak times and traffic congestion can be collected from road authorities and strategic transport agencies; public transport operators; taxi companies, bicycle rental companies and automobile club operators; telecommunications companies; individual traveler surveys and any local congestion pricing system. It can also be collected from transport-related infrastructure, including parking and traffic cameras, automatic license plate recognition systems and electric charging stations.
This data could be used to improve the efficiency of the public transport network and local roads, developed in response to the real needs of local travellers; or to plan safer and healthier journeys. The data could also be used to develop a holistic transport carbon model for developing, monitoring and ultimately researching ways to reduce emissions.
Retail, leisure, hospitality and community usage data may be collected from shopping center owners, retailers, food and beverage operators, leisure operators and hoteliers and sports fields and facilities; through consumer surveys and directly from individuals.
This data could be used to establish how a new community or urban area is being used, helping to evolve the design of the master plan and draw lessons for future phases of the program. It could also aid in the future design and operation of retail, leisure and community facilities, and be used to attract advertisers and set appropriate rent levels and service charge agreements with tenants. and users.
Data on healthy lifestyles
Data from sports and leisure operators, healthcare providers and the public could be used to inform the planning and provision of sports and recreation facilities, public transport options and walking and cycling routes.
Planned communities often have a centralized stewardship strategy, with development areas managed, maintained and operated by a vehicle such as a management company, land trust, community interest company or company limited by guarantee. If well-funded, with particular emphasis during set-up on their ability to generate a steady stream of income, they can become self-funded or even for-profit.
Stewardship vehicles can have a variety of shareholders and revenue streams, of which a data trust element is one. A stewardship vehicle is made up of stakeholders such as landowners, long-term tenants, infrastructure providers and others who hold major property interests in the development is the natural platform from which to negotiate data sharing agreements.
The stewardship vehicle may integrate or work with a data trust to enter into data sharing contracts or other agreements with data source providers, and to pool data sources, to:
- maximize the usefulness of the data collected;
- ensure that data is used in a regulatory and ethical manner; and
- monetize this data, if applicable.
Data may be stored via cloud or on-premises data storage as required, subject to appropriate regulations.
The stewardship vehicle should propose a data strategy focused on data objectives, management and evaluation. The strategy must include how to manage data security; use of personal data, including GDPR compliance; data sharing agreements and agreement with third parties; how the data will be analyzed and anonymized, if applicable; and the approach to how data is generated, collected and flows.
The global data monetization market is poised for rapid growth, and there may be opportunities to appropriately monetize data collected and used by data trust while ensuring compliance with regulatory and ethical standards. . The value of the data collected by the data trust will depend on various data value factors, including uniqueness and exclusivity; its timeliness, accuracy and completeness; and whether there are any restrictions on its use or potential liabilities and risks associated with its use. There are recognized data evaluation methods on which the data manager can seek advice.
Potential monetization opportunities include providing data for:
- unit occupants, to help them improve the customer experience and attract customers from target areas or markets. This could be reflected in a service fee, rent, or specific data sharing payment agreement;
- advertisers or suppliers of goods and services seeking to target certain markets in certain development locations;
- delivery, logistics or service companies seeking to avoid traffic congestion and develop more efficient and faster delivery methods to local businesses and residents;
- market research companies seeking to gauge the demand for goods or services in development;
- bus and train operators, car clubs, cycle hire companies and leisure operators seeking to understand travel patterns in development;
- social landlords and private rental sector landlords (PRS), to help them enrich the tenant experience;
- insurers, subject to appropriate anonymity;
- universities and other research organizations seeking to analyze data on garden communities; and
- residents and occupiers moving to other developments managed by data trust, which builds customer loyalty.