December 20228 OPINIONIN MYBy Bret Swango, Colliers Senior Vice President, Workforce Analytics & Location StrategyThe world is changing at a historically unprecedented pace. While gradual shifts in how we work, the ways we shop and where we live, were taking place pre-pandemic, Covid-19 has catapulted us into the future.These seismic changes carved out gaping opportunities in various markets, as witnessed by the largest increase in new business formations on record, but they also brought several unforeseen challenges.On the office side, the sudden pivot to remote work sent occupancy free falling and a tidal wave of digital transformation activity reverberating across industries, causing major shortages in cloud, IT-security and data science talent, among others. In contrast, the call for supply chain "resiliency" meant redundancy and additional inventory was needed ­ effectively sending demand for domestic industrial real estate and qualified warehouse workers through the roof and producing performance levels the industrial sector had never experienced.The pandemic created what is perhaps the greatest chasm in the last half-century between the market's needs and the existing solution set. Then, came the conflict in Ukraine, rapid inflation and a raising interest rate environment as we teeter on the edge of recession. This confluence of events has forced organizations to seek data as a beacon in the fog as they reevaluate how their real estate footprint can better enable their organizational objectives in an increasingly uncertain operating environment. TRANSFORMING UNCERTAINTY INTOOPPORTUNITY: THE POWER OF ANALYTICS IN COMMERCIAL REAL ESTATEBret Swango
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