Basking has introduced a new occupancy metric called Occupancy Variance Index (OVI) to evaluate how occupancy varies during the week
The Occupancy Variance Index (OVI) provides insights on how different occupancy behaves during the week, by looking into the weekly distribution of site occupancy.
The OVI is a rate that goes from 0% to 100%.
OVI examples
High OVI, higher than 50%
A high OVI (>50%) indicates that occupancy throughout the week varies greatly. Some days of the week have higher occupancy than others. This variable occupancy throughout the week suggests a need for optimization.
Sites with high OVI offer a great opportunity for optimization. One of the mechanisms to decrease the OVI is to distribute office visits throughout the week, thus reducing the difference between peak occupancy and the average weekly occupancy.
Low OVI, lower than 20%
A low OVI (< 20%) means that occupancy behaves constantly throughout the week, and thus remains "stable". Typically, a site with evenly distributed occupancy across the week maintains an OVI lower than 20%.
How is it calculated?
It is calculated by taking the Standard Deviation of the peak occupancy for each weekday divided by the Average peak occupancy for the entire week.