OSCRE Revises Data Model For CRE

ORLANDO, FL–OSCRE International, a consortium for the development of real estate standards, has introduced a revised version of its approach to reference data model as well as new tools for the collection and exchange of data in real estate transactions. The standards focus on core real estate functions such as lease management and portfolio information exchange and also feature 90 specific use cases that describe what the data model contains and how schemas can be extracted, the organization says.

The format is more user friendly — a more holistic approach, Lisa Stanley, CEO of OSCRE, tells GlobeSt.com. “Increasingly people are working with a broader range of vendors and businesses partners, so having a more holistic approach enables that information to be exchanged more readily between the company and the vendor and also from vendor to vendor.”

One notable difference in this approach compared with the previous version of OSCRE standards is the ability to highlight areas that the user should look at and conveys how they relate to one another, she says.

Separately, OSCRE is also launching a new certificate program focusing on business intelligence and analytics and data strategies this week. “In addition to providing tools for organizations to collect and exchange information, we are also providing skill building opportunities,” Stanley says.