Leveraging Recent Technologies for Efficient Facilities Management

By CIOReview | Friday, January 11, 2019

Internet of Things (IoT) has helped to bring together various factors of building facilities on a single platform like web application or a mobile app. The single platform makes a huge difference in a company’s bottom line and also to the environment as it makes for a better Facilities Management (FM).

Although the facilities services spend is close to 1 trillion dollars globally, Corporate Real Estate (CRE) facilities are operating at sub-optimal levels. This is because the building automation layer and facility management don’t interoperate, which creates costly operational inefficiencies. The role of facilities management is changing as the building owners are now expecting the FM teams to be a part of their business growth. The CREs have started taking a proactive approach to providing an efficient approach and an elevated occupant experience.

IoT-integrated buildings have opened new ways for efficient management of resources with real-time data insights. These insights empower the CREs to make informed decisions. Not only does IoT technology helps to undertake energy-saving initiatives, but it also aids to improve end-to-end facilities management like real-time building data management, centralized asset performance, fault detection, corrective workflow integration, and many others. IoT technology aids in the management at both qualitative as well as quantitative levels.

Artificial Intelligence (AI) and Machine learning (ML) techniques can analyze the building data to provide a holistic approach for tuning the entire system. The analysis can also empower the CREs in the continuous improvement of their workforce, asset health, and sustainability savings. The AI and ML techniques draw patterns and useful analogies from the disparate data that enables the FMs to understand the peak-hour demand and lifetime of fixtures and appliances.

A unified IoT platform powered by AI and ML techniques can provide actionable insights into the failures. The system gets better as the data for analysis grows, which helps in making better predictions and maintenance cycle decisions.