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The Evolution of Coworking Space: A Glimpse into Ucommune Singapore’s Data Intelligence Strategies

ucommune coworking space in singapore lobby

Future of Endless Possibilities

According to Ucommune’s founder in April 2020, Dr Mao Daqing, Ucommune has welcomed 530 enterprises and serviced over 13,000 talents. In Q1 alone, there were over 110,000 new member registrations. These impressive figures are a testament to Ucommune’s tenacity amidst a struggling economy. He predicted that Ucommune would become more streamlined in the future while emphasising more on its members’ talents. Dr Mao also envisioned a future brimming with possibilities for coworking spaces. It includes the proliferation of industry chains, diversified functionalities and revenue streams, streamlined operations, and data transformation as assets.

For Ucommune to do so and to remain competitive in this digital economy era, Ucommune must build on its strengths in the industry. They should holistically integrate the latest digital technologies, including smart data, artificial intelligence, trusted computing and blockchain. The approach will help expand its business model. Also, it will improve its business landscape for continuous recognition from its users, investors and the market. After 5 years of development, Ucommune has accumulated a considerable amount of operational and user data. To make good use of this data, Ucommune should maximise its value and provide data-driven insights. This process will serve as a basis for decision making for Ucommune’s core business. Thus, it is the key to Ucommune’s building and operating its data assets. It also needs to participate in the construction and economy of the global data economy as a market element.

 

Employing Data Intelligence Strategies to Complement Business Needs

data networking

Ucommune Singapore is able to build a holistic eco-system for sustainable and high-quality development. Hence, it is adopting a range of data intelligence strategies. They are implementing data-driven intelligent computing on both the user’s and community operations’ ends. They emulate the guiding principles of “people-centric”, “data-driven”, and “trusted intelligence”. Optimising this business framework has increased operational efficiency, cut operating costs, and improved customer acquisition and renewal capabilities.

 

Dual-end Implementation: Customised Services on the User End

membership

Ucommune Singapore strives to analyse and build the entire data lifecycle from the user end. The user portraits can pinpoint effective customer acquisition channels. It also enhances the accuracy of customer acquisition capabilities and reduces customer acquisition costs. Through in-depth modelling of user needs and customer segmentation, Ucommune Singapore can provide timely membership services. This representation will best meet users’ needs, For ucommune to emerge as a top coworking space in Singapore with tailored services. Ucommune Singapore also gathers early insights on customer termination and takes timely action to improve renewal rates. Lastly, Ucommune Singapore also utilises a rewards system to achieve more comprehensive user profiling. This strategy motivates users to contribute to the construction of the corporate ecosystem.

The Uclub application which allows for two-way data interaction and user motivation, is a key feature in building a closed data loop in the ecosystem. In essence, the Uclub application is a holistic platform for Ucommune Singapore members to enjoy corporate rates for goods and services from Ucommune’s partners, to network and to address operational needs. Other than enjoying high-quality discounted goods and services ranging across hospitality, F&B and sports & wellness industries, members can also easily access smart office systems and amenities through this one-stop application.

 

Dual-end Implementation: Data-driven Analysis on the Community Operations End

data tracking

From the community operations end, Ucommune Singapore is able to optimise operational efficiency and improve utilisation of resources, equipment, venues and services through data analysis on community operations and smart amenities in strict adherence to Singapore’s relevant rules. This enables dynamic adjustment of operational resources, equipment and space to achieve significant energy savings and cost reductions. The data-driven analysis could help to optimise member service and resource pricing, rationalise bookings and increase profitability and provide a basis for sales decisions. Through the combination of community operational data with external big data, recommendations for future strategies in terms of selecting sites, bidding and designing of new communities could be derived.

 

Conclusion

Pioneering a trusted data-driven and people-centric approach, Ucommune Singapore prides itself in one-of-a-kind data intelligence strategies. To create a future of possibilities for users of coworking space in Singapore and the world.