To effectively interpret your data within the ApartmentIQ Market Survey feature, it's crucial to understand the distinction between calculated and observed metrics. This guide is designed to clarify how these key performance indicators and fields are derived, ensuring you can confidently analyze everything from Market Surveys to Historicals and Floor Plan reporting.

In this document, we will:

• Define the difference between calculated and observed metrics in ApartmentIQ's Market Survey feature.
   
• Explain the methods used to derive each type of data.
   
• Provide context on how to interpret each metric in your reports.
   
• Share best practices for utilizing this information.

What is Observed Data?

Observed data refers to metrics that are directly sourced and verified from a property's public leasing site. These are explicit values that we can confirm without estimation. 

Examples include:

• Total Unit Count
   
• Rent
   
• Total Units
   
• Concession Details

These metrics will be found within the “Property Summary” table at the top of your market survey.

What is Calculated Data?

Calculated data, on the other hand, consists of metrics that are calculated using publicly available data and machine learning techniques. These calculations are necessary to fill in data gaps, providing a more complete and actionable dataset when certain information isn't explicitly stated. While these metrics are generally highly accurate, minor variances from a property's internal figures may occur. This is an expected outcome of working with inferred public data. Examples include:

• Advertised Occupancy %
   
• Applications (Last 7d)
   
• Cancels (Last 7d)

How We Display the Data

To ensure transparency, ApartmentIQ visually separates calculated metrics from observed data. This allows you to quickly identify the source of your information and interpret it accordingly.

• In the platform: Calculated metrics appear in their own dedicated tables.
   
• In reports (Excel/PDF): They are styled differently and placed in a separate section.

Metric Glossary

Understanding how your data is calculated is the first step in turning insights into action. If you have questions about a specific metric please review our glossary of terms. This article will showcase which metrics we have observed from public sources, and which metrics we have calculated based on publicly available data.  

Conclusion

We strongly encourage you to share this guide with all users and stakeholders. A shared understanding of how these metrics are created will lead to better adoption, alignment, and more informed decision-making across your organization.

If you are in need of additional clarifications please reach out to your Customer Success Manager or click “Contact Support” in the help center.