The cost of cutting corners
We make extensive use of the LDO dashboard to put data behind the decision-making process across the core areas of our retail business… This understanding feeds into our ever-evolving asset strategies in addition to informing the investment decisions we take.
-Joe Oxley, Senior Insight Manager, Landsec
In a study by Experian, 77% of businesses said that inaccurate data impacted their ability to respond to market changes brought about by COVID-19. Data that is inaccurate, out-of-date, inconsistent or unfit for purpose puts businesses at a significant disadvantage, leading them to waste valuable time and resource on correcting the issue.
In a survey by consumer platform Treasure Data, marketers said they had wasted an average 31% of their budget— equivalent to £1.6million— over a six-month period, due to poor data optimisation. The challenges of the pandemic and the cost-of-living crisis have narrowed the margin for error, increasing the pressure on teams to deliver robust, accurate strategy the first time around. Getting it right the first time— with the help of accurate data— costs less in the long run.
Poor quality data is costly in more ways than one. Inaccurate data can impact an entire business, hampering operational effectiveness, increasing risk and affecting relationships with stakeholders and customers. Decisions based on low-quality data could cause reputational damage in the long run and cause customers to question the reliability of your services. Evidence-based strategy and policy is only as strong as the data that underpins it.
Primary research and quality checking for market-leading accuracy
PMA use LDC’s data for detailed city by city analysis. The database is robust and reliable, allowing us to easily and consistently compare between towns and cities across the UK and see changes over time. The LDC team are always friendly and happy to help with any queries we have.
-Alana Sutton, Senior Analyst, PMA
For the past ten years, we have continued to refine our unique methodology in line with the changing market. In light of the significant headwinds of recent years, the retail and leisure industry has seen just how quickly the climate can change; more than ever, our clients need to be sure they are acting on the most accurate data available.
We are the only business to employ a dedicated GB-wide field research team that regularly audits the occupancy and vacancy of every retail and leisure unit in the addressable market. The field team sends new data to our office research team every day using our proprietary tech infrastructure. The data is verified by our quality control team to ensure it meets our high standards for quality and accuracy before being uploaded into our database. Regular updates ensure that our data provides as close to a real-time view of the market as possible.
We now hold ten years of data over 1.6million unique data records, with data on over 680,000 retail and leisure premises across Britain each updated on a 6-to-12-month cycle.
Data to depend on
Having strong data from the outset empowers more targeted, resilient strategy and confident decision-making that builds trust with customers and stakeholders alike. It lends credibility and confidence to bold action and growth plans, giving your business the competitive edge it needs to thrive.