BUILDING ANALYTICS- In an effort to leverage big data and advanced analytics toward the goal of increased energy efficiency with a relatively quick return on the investment (ROI) within the commercial real estate (CRE) space, building owners and operators have turned to a building management system (BMS) to provide real-time actionable information about a building portfolio. While a BMS is taking on an increasingly critical role in CRE, there are some inherent shortcomings.
For example, a BMS is often a legacy system that does not store data and is unable to establish peak performance standards to stay ahead of system drift (what is drift?). There also are limitations with respect to scaling across a portfolio.
Advanced data analytics offered by Entic’s cloud-based technology complements a BMS in such a way to deliver insights into the health and function of a building’s system, enabling owners and operators to reduce energy waste, increase building efficiency, stay ahead of safety issues and ensure optimal occupant comfort.
The ROI is favorable. Research found that organizations continuing to make investments in analytics have experienced an average of $13 in return for each dollar spent.
Approaches to Next-Level Building Analytics
There are many approaches to consider when choosing a building analytics solution that best suits a property’s immediate and long-term needs:
Consultants: Costly, Manual, Not Scalable
Consultants are traditionally considered the most reliable option to solve focused problems because of their niche knowledge base, but can also the most expensive one. Scaling a consultant approach portfolio-wide is time intensive as well as costly when considering the overall health of a portfolio.
Custom Builds: Pricey, Ineffective, Not Scalable
The custom-built solution is costly and time-consuming because it relies on creating customized data analytics instead of relying on an off-the-shelf software package. Once built, the analytics will integrate with a BMS and continuously map to a building’s systems. Costs increase as a result of the need to engage in deep domain expertise into an HVAC, BMS, IT equipment and networking. Large-scale projects may be subjected to the risk of the introduction of bugs in the software development process. There may be less than rigorous formal testing, resulting in business-critical errors. Most custom builds are a one-time event with ongoing maintenance costs and can often can result in failure.