Cleantech Market Intelligence
IoT: Building Awareness – Part II
Today’s facility managers are faced with the challenge of assessing performance while trying to sift through endless streams of data. People want better data, not just more, as constant flows of information can sometimes muddy the waters for decision makers. The integration of various subsystems in building automation further deepens this web of connectivity, which is why commercial buildings today are looking to smart building technology as a way to better facilitate and manage system operations. Knowing how a system operates is imperative to business development and economic growth. Thus, companies are starting to focus on the primary element of those systems: building occupants.
Stand Out from the Pack
As “IoT: Building Awareness – Part I” explained, the Internet of Things (IoT) has had a significant impact on intelligent building designs. The increased sophistication of smart technology has created a more competitive business market, making it difficult for companies to outperform their competitors. As intelligent building systems become better at adopting the latest technologies and connectivity strategies, the challenge for businesses becomes knowing how to leverage their competitive advantage. Focusing on occupant satisfaction may give companies the leg up they need in a market where customer loyalty and employee retention is becoming a major challenge. This may also be beneficial from a branding perspective, as the growth in IoT services has made it difficult for companies to differentiate themselves in a world of streamlined automation. Focusing on occupant satisfaction takes a more holistic approach to facility management by helping businesses and employees—and the buildings they occupy—become more efficient through enhanced decision-making capabilities.
You can’t improve a system without knowing how it operates. News of partnerships like the one between Lucid and Cushman & Wakefield are becoming more mainstream as businesses look to advanced software solutions and intelligent integration for understanding performance operations. Advanced sensors and data analytics that track tenant behavior provide valuable information into system operations and allow facility managers to make better decisions on how to upgrade their offerings. This is important from an efficiency standpoint because it helps managers understand where areas may be underperforming, why, and how to address those issues. For example, building owners can cut down on utility costs if they know which rooms will require less heating or cooling based on the number and location of occupants.
It’s a Win-Win
Businesses and employees also stand to benefit from this comprehensive approach, as various studies stress the relationship between comfort level and worker efficiency. Researchers at the University of Warwick’s Department of Economics reveal causal relations between employee well-being and company performance. This study, along with several others, shows that employees are happier and more engaged in areas where they feel comfortable and can be more productive. Facilitating occupant satisfaction can also strengthen employee retention as happier employees are more likely to succeed in their careers. These findings are important for business owners justifying investments toward creating amicable office environments through smart building technology.