IoT and Commercial Real Estate

The focus of this article is on the management of CRE (commercial real estate) information, thus strengthening the relationship with customers and tenants.

The IoT is already having a significant impact on the CRE Industry. The focus of a real estate industry has always been cost reduction. The values that IoT aims to bring in are more efficient building operations, enhanced tenant relationships, and new revenue generation opportunities.  For e.g.consider the increasingly smart thermostats that adjust the temperature, humidity and light based on residents’ preferences and climatic conditions.

  1. IoT enabled (BMS) Building Management System to increase building performance efficiency and
  2. Sensor-generated data to enhance building user experience
  3. IoT-enabled technology to allow owners to have direct relationships with building users rather than just tenants

IoT and CRE

CRE companies will find most information in the various sensors that can track features such as motion, air pressure, light, temperature, water flow and then with the Internet backbone – enable the BMS to automatically sense, communicate, analyze with other machines and people in a non-intrusive way.

The value created from the information generated by IoT-enabled bildings has the potential to increase the value and efficiency within the marketplace making it far more desirable and profitable.

The different stages of IoT managed information are:

  1. An action is monitored by a sensor
  2. This sensor creates information
  3. That information passes through a network and communicated
  4. This information is aggregated across time and space
  5. It is then analyzed
  6. The processing is completed via augmented behaviour technologies.
  7. Thus enabling improved human decisions

IoT managed CRE data:

  1. Sensors track features such as motion, pressure, light, flow which create a large amount of data around building operations and the environment
  2. The information passes through a network such that various parts of the BMS communicate with each other
  3. This information is aggregated on a real time basis.
  4. The aggregated data is analyzed
  5. This loop is completed when the BMS demonstrates augmented behaviour in the form of increased automated actions related to monitoring and tracking.

Uses of IoT

  1. Individual BMS
  2. Partially integrated BMS
  3. Fully-Integrated, IoT-enabled BMS

The value in leveraging IoT data:

  1. Creating value through efficiency
  2. Enhanced Building Performance
  3. Focus on employee and occupant health and productivity
  4. Service innovation to tenants

Benefits to the broader ecosystem

The connected buildings can drive meticulous tracking of information on sustainability initiatives related to energy, water and waste management and boost efforts to reduce impact on climate change.

Reduce carbon footprint: Going ahead, analytics can help CRE companies decrease their carbon footprint, thus creating a positive standing for themselves.

Energy Conservation: In case of energy, increased IoT adoption can imply more detailed and real-time monitoring of all devices that consume energy in a building and better connectivity with the smart grids. This would allow power utilities to enhance the efficiency   of energy distribution and conservation.

Water conservation: different sets of information will enable the buildings identify possible supply shortages and better plan their usage and overall water conservation.

Waste management: Sensors in smart trash bins can communicate volumes to help collectors optimize pick-up timings and appropriately plan disposal of different forms of waste.

 

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