CompStak Saved Search

Problems

CompStak is known in the Commercial Real Estate industry to be the primary source for office leases in the United States, with a heavy presence in primary markets such as New York City and San Francisco. COVID shifted the industry’s demand from office leases in primary markets to industrial leases across primary and secondary markets. This shift in demand revealed key challenges:

• CompStak lacked comps in highly sought-after markets, particularly recent data
• CompStak did not have a way to request sector-specific comps
• We did not have tools to track and manage promotional campaigns aimed at encouraging data submissions. The original process required our data team to manually tag comps associated with campaigns, which delayed the distributed awards (sometimes up to 3 months)
• Monitoring spend and controlling campaign performance was a manual, labor-intensive process involving significant back-and-forth communication between the company and users. We ran the risk of ending the promotions prematurely before we collected enough data or spending more than we budgeted for due to the influx of submissions.
• Promotions were only set up to run per quarter, which meant that veteran users would not submit their comps until a promotion was launched to get extra credits. Quarterly promotions were often reactive instead of proactive, which meant that important deals slipped through.

Results

Building meaningful and actionable dashboards is a non-stop endeavor. As we expand our metrics capabilities, we look to continue adding value to the dashboards we build. In our backlog, we currently have the features planned: