IoT technology is redefining possibilities, in the commercial real estate industry. Data-driven decision making, optimized performance, enhanced safety and peak sustainability, contemporary building managers seem to have discovered their ultimate tool. IoT-enabled buildings are setting aside the limitations imposed by siloed automation systems of the past, ushering in an era of seamless integration.
“IoT based systems are the bridge between the physical and digital assets of a building portfolio” believes Sanjeevv Bhatia, CEO, Netix Global BV, an automation solutions provider with a strong focus on sustainable smart buildings, smart cities and energy efficiency.
“But, there’s more to deploying IoT in real estate than simply adding a layer of digital control”, Sanjeevv elaborates. “Legacy models lack granular transparency and the ability to respond optimally. IoT systems introduce truly agile operations, enabling operators interact with them in real time, by leveraging cloud based connectivity”.
A look at the fundamentals of a revolutionary new approach
To understand the fundamental change that an IoT based Building Management system enables, we need to look at some of its basic building blocks explains Sanjeevv, which include
• A network of Sensors: Smart sensors capture data about building occupancy, the temperature ranges tenants prefer, air quality, indoor humidity, and several other metrics of performance and quality.
• AI driven Analytics: Artificial Intelligence enables real-time analytics to derive actionable insights from captured data captured.
• Cloud based Applications: App based access to automation and system data helps building managers and operators set up alerts and respond to metrics with pre-conceived strategies.
The future of real estate is fully integrated
“Gaining second-to-second insights into metrics such as energy consumption, asset performance and ongoing wear and tear, allows empowers targeted intervention and predictive management”, Sanjeevv shares. “Real-time operation and management of building portfolios, and all their embedded automation systems, translates to agile and responsive CRE operations. These tech-enabled capabilities allow building owners and operators to deliver seamless convenience and tenant experiences”.
A look at the specifics of this IoT enabled model confirms the strengths that progressive industry voices, such as Netix, are emphasizing. In broad terms, the mechanism of such a system can be summed up in the following three-steps, suggests Sanjeevv.
• Transforming Raw Data into insights, through AI Analysis: In conjunction with an IoT-enabled portfolio, AI generates insights that lead to targeted actions. Legacy models of analysis are not capable of extracting such advantages. Every dataset that a machine learning algorithm processes can be used to identifying patterns, further refining the overall operation.
• Securing buildings in the post COVID new normal: The ongoing pandemic has emerged as the perfect storm for commercial real estate. IoT technology will be critical for buildings to reopen safely, by enabling optimal management of occupant access, heightened sanitization, touchless services, and contact tracing.
• Agile operations that deliver responsive Customer Experiences: IoT based systems can deliver consistent quality for end-users, while allowing an affordable upgrade of existing building stock to ‘smart’ status. Predictive maintenance capabilities, enabled by IoT networks, can help identify issues before they occur, ensuring a seamless and disruption free occupant experiences.
In order to unlock seamless IoT led convenience in multiple buildings – or for one owner with distributed assets in their portfolio - Netix has introduced an intelligent Integrated Command and Control Center (iICCC). The company believes such solutions will emerge as the standard way to manage buildings in the future, and drive the global shift to Smart Cities.
“The real-time responsiveness and optimized operational outcomes, which this model enables, will be at the heart of an industry wide digital transformation, as unprecedented efficiencies and service standards become the norm”, Sanjeevv explains.