There is nothing quite like data when it comes to providing you with a complete picture of what's going on: whether it's your workout routine, how you organize your personal finances, or how your coworking or flex workspace is being used by your members or contacts. Observing and analysing the data allows you to verify which of the assumptions we make every day are true, which ones can neither be confirmed nor disproved and which ones are totally false and do not work in the way you thought they did.
It is for this exact reason that Nexudus Insights can be such an invaluable resource for anyone looking to learn more about the coworking and flex workspace industry. Nexudus has collected more than 3.5 million records between 2016 to 2021, anonymised them and analysed them, taking into account the different parameters and scenarios that we believe are relevant for operators.
The first report in the series focused on how flexible workspaces have evolved in a general sense, analysing data from over 90 countries. The upcoming reports, however, will focus on individual markets such as the United States, United Kingdom and Spain. These reports provide the opportunity to observe the particularities of each market in much more detail.
In these reports we will try to answer the following questions:
Does the length of meetings or the capacity of the reserved resource affect at what time a booking is made?
Does the capacity of a resource affect the number of bookings it receives?
What is the average price of a booking depending on the type of user accessing it?
Is there any relationship between the size of a workspace and the price they charge for bookings?
These data led insights can provide you with amazing actionable tips on how to optimise your workspace. For example, our research has shown that the optimum capacity for resources in workspaces in the US is six users. All our data on resource usage indicates that the average maximum capacity of resources that are booked in the United States during most hours of the day is close to six users. However, we have also found that resources of five or fewer users can cover 45% of the users' demand, while resources with a capacity of between six and nine users cover 27% of resource bookings.
Something that may surprise you is that the data suggests it is not at all advisable to build resources with a capacity between 10 and 19 users and even more so to build resources with a capacity of between 14 and 19 users as they receive a tiny percentage of the overall bookings. If your aim is to create high capacity resources it seems that it is much more effective to create resources with a maximum capacity of 21 or more users.
The data also shows how much more profitable it is for operators to have resource reservations made by contacts (users who do not have a membership) rather than by members. On average a contact booking is worth 36% more than a member booking, so you could decide to run a marketing campaign to attract more bookings from contacts.
The aim of this article is not to summarise all the conclusions drawn from the latest Nexudus Insights report, but simply to share some of the useful information you can glean by sitting down for a while in front of your computer or tablet with a cup of coffee and taking a look at these free reports. We have tried to make them as accessible as possible to help you optimise the management of your coworking or flexible workspace.
Like everything we do here at Nexudus, the goal of Nexudus Insights is to help you do your job more easily and efficiently. By using and analysing the data we have gathered, we hope to enable you to better manage your space and get the most out of everything it has to offer.
Our aim is to provide you, whether you are a Nexudus customer or not, with the information you need to better understand the industry and user behaviour from an objective, data-driven point of view. The next step is up to you to make the decisions you think are necessary to improve the performance of your workspace. With these reports, we have done our part: to help you make informed decisions. Now it’s over to you.
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