As it becomes simpler and cost-effective to collect previously untapped information on buildings, IoT and Big Data are making it easier for Corporate Real Estate, Workplace Strategy, and Facilities Management teams to reap the benefits of actionable business intelligence.
The impact of IoT and Big Data on building management
Indeed, Deloitte has suggested that IoT sensor growth within the commercial real estate sector could see a compound annual growth rate (CAGR) of 78% from 2015 to 2020.
Forward-thinking organizations are harnessing the power of IoT and Big Data to increase the revenue potential for their businesses. For example, in a global survey by KPMG (2017) surveying 130 real estate decision makers from 36 countries, 8 in 10 (86%) respondents saw digital and technological innovation as an opportunity for their organization.
Just over half (53%) of respondents said that Big Data and analytics is the emerging technological innovation their business is most likely to adopt in the next 3 years. This same sample also ranked their organization’s digital innovation maturity at 5 or below.
There’s no doubt that IoT and Big Data are substantial areas of revenue generation and growth potential for buildings of the future.
Powering future success with IoT and Big Data
Are you looking to do the same, but unsure how the IoT and Big Data add value for you? Download our guide on the future of these technologies and the impact they will have on building management.
Gain insights into:
- The impact of IoT and Big Data for Corporate Real Estate, Workplace Strategy and Facility Management;
- Using IoT and Big Data to overcome building management challenges;
- How to drive greater impact by optimizing space utilization.