The Internet of Things (IoT) is finding applications in hundreds of different industries, and facility management is no exception.
Through a combination of sensors and software, facility managers can elevate their buildings to entirely new levels of cost efficiency and effectiveness. Here, we answer some of the biggest questions regarding IoT and its applications in facility management.
How Does IoT Add Value and Increase Profit Margins?
This two-parted question has two separate but similar answers. IoT adds value by increasing efficiency without sacrificing quality of life. So, while IoT improve facilities for tenants, it also makes facility managers’ roles easier.
By adding value without sacrificing efficiency, IoT reduces costs and increases profit margins. At the same time, IoT allows facility managers to perform their jobs more efficiently by taking over simple tasks. Facility managers can then use time more effectively, sometimes leading to decreased labor costs.
Why Are Smart Energy Meters and Other Smart Building Technologies Game Changers in Facilities Management?
Energy is one of the largest expenses for facilities, and the government offers incentives for buildings to go green. The best part about smart energy meters is that they improve energy efficiency without anyone noticing.
Lighting, for example, is particularly costly for buildings. Smart energy meters can gather data trends and analyze that information to determine a more cost-effective way to use lights. IoT would then turn off lights in certain areas at appropriate times, cutting costs without affecting anyone. The same idea can be applied to security, HVAC systems, and entire electrical networks.
How Can Predictive Maintenance Reduce Facility Costs?
Because machinery is bound to break down, facility managers have two options: predictive maintenance and run-to-failure. The latter is expensive and can leave facilities without functioning equipment for long periods. The former is only effective if the machinery is close to breaking down.
IoT sensors make predictive maintenance easier. Your facility management software will alert you when the sensors are detecting an issue, letting you address the problem before the machinery breaks down.
How Does the Availability of Exponential Amounts of Data — Provided by IoT — Help Facilities Expand Their Scope of Services?
Smart tech is capable of collecting data in much larger quantities than anything before it. With massive amounts of data, facility managers can find new ways to expand their current set of services.
As facility managers continue to use smart tech, they’ll become more adept at using the data to find better ways to run facilities. This can mean reduced labor costs, more informed decisions, and decreased chances of a disaster.
How Does IoT Improve the Experience for Building Tenants and Occupants?
The goal of IoT is to improve everyone’s quality of life, including that of tenants and occupants. Improved energy usage can decrease the risk of machinery breaking, avoiding any long spells of discomfort.
Smart tech can also reduce potential threats to health. Thanks to continuous monitoring, smart tech can detect hazards and contact facility managers and emergency responders at any time. Anything from a fire to a break-in can be detected and responded to with smart tech.