Similar to other industries, there is a digital transformation sweeping through facilities management (FM) as the Internet of Things (IoT) play a pivotal role in evolution of the intelligent buildings. The implementation of facility optimization system through different means in managing buildings and properties is currently in practice worldwide. Facility optimization is not a new term. Yet, there is a new breed of facility optimization solutions that do not just further remove the silos in facility management, but also stands for a change in existing philosophy of FM.
In order to optimize facility management functions, IoT is delivering new levels of predictive facilities management capabilities via smart asset monitoring, advanced predictive intelligence, continuous energy management, and equipment optimization – all enabled by the intranet. The overall convergence of FM, Building Management System (BMS), Building Energy Management System (BEMS), and other similar platforms are bringing new opportunities for facility managers. Newer technologies can assist facility managers view the building's performance metrics, spot trends, and filter disparate data into actionable information. Most of the smart building solutions are cloud-based, thus providing facility managers continuous monitoring of multiple customized performance metrics to maintain up time and address problems before they become serious.
IoT is the platform for the future of smart buildings and the game changer in meeting all the needs of building owners/facility managers and deliver the experience beyond the expectation of the end users. Facility optimization is the use of technologies in combination with the right partners and vision, and offer smart facility services to customers, thus broadening offerings and revenue model.
Integrating technology will surely increase the cost of managing the facility, but in the long run, it will broaden the aspects to achieve high revenue and value in the marketplace. This inevitably will continue to reshape the face of key players in the market and add an entirely new dimension to facility optimization in the traditional sense as more asset optimization possibilities are added on top of it. Therefore, it will have a direct impact on the solutions, that facility managers seek and the way the market evolves.