Today’s Building Conversations
Commercial Real Estate operators and building owners are adapting to the dynamics of building automation technology, behavioral changes and new connected data requirements that are driving engineering design, creating smart buildings and ultimately erecting smart cities.
Digital transformation combined with the rate of innovation and advancement of HVAC system controls and energy management systems has reshaped the business of how we manage, operate and optimize our buildings and facilities in an IoT environment. Technology and behavioral changes have also caused an expanded conversation, engaging not just the facility side—C-Suite, IT and HR personnel—but even in some cases, the building occupants themselves.
The building management market has never harnessed as much smart technology as there is prevalent today. We have moved beyond the stage of convergence framed around siloed control systems to one of open, collaborative and a compatible ecosystem.
We are in an age of IoT, flat infrastructures, data, analytic insight, edge command and control, occupant satisfaction, smart connected spaces, operational risk mitigation and cyber security. It is about control, optimization, outcomes and creating as much value as possible from the wealth of real-time data within the equipment and control systems.
We are now in the era of more comprehensive business insights delivering bottom line benefits and improvements in operational efficiency, cost reduction, productivity, and wellness and occupant experiences.
As building automation technology has advanced and behaviors have changed, our dialogue and conversations around buildings have also evolved. They are being driven by digital transformation, changes in value propositions and business outcomes and their roles in creating healthy, safe and productive environments.
“Smart buildings are powerful source and strategic competitive advantage. Smart building technologies and their outcomes contribute to the market valuation of a building/facility and bring in a larger return over the life of the investment.”
A few years ago, the dialogue focused around energy management systems, efficiency and lower operating costs.
So, what about now? What is the dialogue and what are the conversations that are making their presence felt within our buildings and workplace discussions?
The following is a then and now look at how the dialogue has changed. While I am sure additional items can be added, this is meant to be a start to show how the conversation has changed.
Leveraging smart technology and behavioral change within the built environment are the driving forces behind innovation and the shift away from traditional practices. They are having a profound effect on expectations and how we manage and improve operations within our facilities.
As the journey has evolved, so has the speak. Today’s conversation is no longer about the potential, but rather about economics, asset performance, business outcomes, asset value and gaining strategic and competitive advantages.
The business of smart applications and connected commercial buildings and facilities has moved from the fear of the unknown into an era of empowerment. The challenge is not technology. It’s here. Rather, are we prepared, willing and ready to take advantage of it?
This Week’s Sponsor
Embracing open software and hardware platforms, Lynxspring develops, manufactures and distributes edge-to-enterprise solutions and IoT technology to create intelligent buildings, better energy management systems, equipment control and specialty machine-to-machine and IoT applications. Lynxspring technologies and solutions simplify connectivity, integration, interoperability, data access and normalization and analytics from the edge to the enterprise. The company’s solutions are deployed in millions of square feet of commercial settings in the United States and internationally. More information about Lynxspring is available at www.lynxspring.com,
Join a unique gathering of Corporate Real Estate and Facilities professionals at CoRE Tech 2019, held Nov. 13-15 at the San Jose Convention Center. For the 10th year, CoRE Tech focuses on groundbreaking automation and technology strategies to help organizations achieve Real Estate business goals. This year's theme, REcalibrate | Using Innovation to Turn Challenges into Opportunities, focuses on why entire organizations need to fully understand the next chapter of the digital revolution—a chapter impacting individual roles and entire companies.
As you REcalibrate, CoRE Tech attendees gain access to:
- Global Industry Experts
- Leading-Edge Learning Programs
- Executive Briefings and Tours in Silicon Valley
- Innovation Showcase of Ground-Breaking Tech Solutions
VIEW FULL ADVISORY COUNCIL
UPCOMING REALCOMM WEBINARS
Real Estate Information Management - BUDGETING & FORECASTING - 9/5/2019
With real estate portfolios becoming more complex and in need of continuous financial scrutiny, the demands for integrated, real-time, accurate building and portfolio performance information is critical to business success. Long gone are the days of isolated static forecasting; we are now entering an era of complex, integrated, real-time and predictive. New platforms, including CPM (Corporate Performance Management) products, approaches and innovations continue to reshape this important real estate process. Industry experts will present state-of-the-art, leading edge and modern approaches, providing an up-to-date perspective on current best practices.
Chuck Niswonger has over 30 years of successful leadership experience in technology-related roles that range from operating his own consulting company (www.nicenets.com) to directing the IT strategy of a real estate investment management firm to manufacturing and technology-enabled education. Chuck has also been the chair of the Realcomm Investment Management (IM) Advisory Council for the last ten years, managing content selection for the conference educational sessions, IM forums, workshops and webinars.
Porter Bellew is VP, CIO for Federal Realty Investment Trust. He is responsible for the Trust’s information technology strategy, services, operations and team. Porter has over 25 years of experience in real estate information management.
Nick Moore is a founding partner of Lionpoint Group, a global consultancy focused on delivering complex business and operations transformation initiatives to solve process and data inefficiencies within the alternative investments market.
Andy is a Product Marketing Manager for MRI Software, where he drives product strategy and direction for the company’s Financial, Commercial and Retail property management solutions. Andy is passionate about leveraging the power of data to drive actionable decisions across organizations, and he enjoys developing and teaching best practices that support the needs and requirements of MRI clients.