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What is IoT? How will it influence Facility Condition Assessment for Capital Planning

What is IoT? The Internet of Things is the collection and exchange of data between physical devices connected via internet protocol, more simply put, it refers to connecting things (machinery, sensors) to the internet.

The core benefit of IoT is its ability to collect data, digitize it, and act on it. In this way, it allows organizations to capture more information about its physical assets, then quickly respond, and ultimately act on this new business intelligence.

As we move into a world where everything is connected, a new "smart infrastructure" will need to be implemented, which will enable asset and facility management tools to manage the scale and lifecycle of dispersed, yet connected, physical assets.

For facility managers, inspectors, and capital planners this means that infrastructure issues, maintenance, and potential problems would be much easier to identify in facilities that use IoT.

Listen to Intellis CEO Steven Warshaw talk about implementing new technology in a meaningful way on the FM Innovator Podcast.

Driven by new and emerging technologies, including the Internet of Things (IoT), machine learning, and intelligent mobile devices, Facility Condition Assessment for Capital Planning is rapidly evolving. 

When facilities begin developing their capital plans, it is important to hone in on malfunctioning assets that could significantly impact an institution's health and safety compliance as well as its future capital investments.

Using mobile technologies, specifically tablets, for capturing inspection data is the most accurate way to record assessment data. This also makes it easier to apply enterprise asset management-specific analytics.Tablets facilitate real-time data capture, which can provide unprecedented information on asset age, planned replacement times and replacement costs, including removal and startup. 

View our Case Studies to learn more about the ways in which mobile enterprise solutions improve Facility Condition Assessment for Capital Planning.

The Internet of Things (IoT) is emerging as one of the most promising and important topics in the tech sector. IoT devices play a vital role by monitoring air quality, health status, and home security. So how could IoT be applicable to facility management, facility condition assessment and capital planning?

How will the Internet of Things (IoT) influence Facility Condition Assessment for Capital Planning?

Benefits of implementing IoT devices for Facility Condition Assessment and Capital Planning include flexibility and observability. Some of the uses already becoming common place include:

  • Automatic adjustment of HVAC settings with a CO2 meter that estimates the number of people in a room and relays that data to the system instructing it to increase ventilation.
  • Turning lights on or off automatically in coordination with occupants entering or exiting a space by using an occupancy motion sensor.
  • Analysis of facility sensor data from a universal dashboard that monitors physical assets across all buildings.
While IoT devices and other types of smart building technologies are already commonplace, such as controls for lighting and HVAC systems, there are several more applications that are starting to emerge:
  1. Vibration Sensing Monitor vibration with sensors so that FMs can reduce noise for occupants. 
  2. Security Integrate IoT into cameras, smart locks, credential readers and other physical security devices.
  3. Space Management Track occupancy and space utilization throughout all facilities by incorporating IoT devices into meeting rooms and other commonly used spaces.
  4. Safety Link systems for emergency alarms and mass notifications with IoT devices so that occupants  are able to safely evacuate faster.

Looking Ahead

When it comes to improvements around quality, production and longevity of physical assets, digital transformation is an unfolding revolution. The FOUNDATION software platform is part of this revolution that is transforming Facility Condition Assessment for Capital Planning. With FOUNDATION you will be well-equipped to be at the forefront of the next wave of digital transformation.

Interested in learning more? Contact us to request a demo and our experts will contact you within 24 business hours to discuss how Intellis software can improve facility condition assessment for capital planning. 

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