Monnit: Inside the IoT January 2023

Internet of Things Intersection

How the IoT Helps Decision Making

Data from the Internet of Things (IoT) and evolving artificial intelligence (AI) solutions help empower and inform timely strategic decision-making. Your organization can run seamlessly when you know about and predict potential problems, preventing significant impact.

In this article, Milan Dordevic—a Forbes Councils Member, certified project management expert, author, and high-tech mentor—shares how organizations can use the IoT and emerging technologies to improve decision-making and transform business in the digital age.

Here’s the introduction to Dordevic’s article.

Post-pandemic, few workplaces, and virtually no industries remain untouched by digital transformation. The pitfalls of legacy systems that aren’t rooted in the latest technology—flaws in efficiency, efficacy, and, in many cases, security—are only becoming more apparent as companies shift to integrated, dynamic systems that are cloud-based, IoT-dependent, and fully automated.

In most cases, these transitions result in better operations, management, productivity, and administration of daily tasks. Company heads, project managers, and even employees who may have expressed initial reluctance about the implementation of new technologies are now saying, “This makes things so much easier. … Why didn’t we do this before?”

While the outcomes of the digital revolution can be most easily observed in tangible metrics—more units produced, more efficient use of resources, fewer hours spent on tedious administrative tasks—one of the most salient impacts of this period of transformation is the area of decision making.

Particularly in this period of transition, wherein we find ourselves facing an impending recession and hopefully soon exiting a global pandemic, change management remains top of mind for many executives, especially since many project management offices have changed leadership in the past couple of years. Fortunately, even as personnel may be in flux, digital tools exist to drive and inform better decision-making, such that these changes can be weathered with a steady hand and a clear trajectory (no matter who is at the helm).

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Vertical Market Focus

Facility Managers Do It Better with the IoT

The Internet of Things (IoT) can help transform facility management (FM) into a highly automated, optimized practice to benefit tenants, managers, and owners. The list of benefits continues to expand, including:

Overall, the IoT enables more efficient facility and resource use and FM productivity. These benefits can lower operational and capital costs, optimize workplace capacity and use, increase service request responsiveness, and improve occupant quality of life.

Learn how facility managers can monitor plumbing, occupancy, HVAC systems, and more with predictive analytics using real-time data and alerts from fast-install IoT sensors.

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IoT Insights

The IoT is a Proven Wise Investment for FMs

The exponential value of implementing Internet of Things (IoT) solutions in facility management significantly outweighs the investment. You can achieve many benefits when you apply the data and insights from the IoT.

While you ponder your answers, read the beginning of this article that examines the valuable results of adopting and integrating IoT technologies into your operations. Or, click a link to the full article on FacilityExecutive.com.

Facility managers are tasked with keeping buildings running cost-effectively while delighting customers. Today, with economic volatilities putting the spotlight on cost-cutting and remote work, making it harder to attract tenants, the pressures to excel at both have never been greater. This is why it’s vital to leverage technologies that make it easier to drive efficiencies, lower costs, speed responsiveness, and improve marketability. The Internet of Things (IoT) makes this possible.

While the concept of IoT—or connected, internet-accessible devices—is not new in facilities management (FM), wide-scale adoption is lagging. Few are truly taking advantage of the data, insights, and automation that IoT has to offer.

A reason for the lack of adoption is because technologies and use cases are rapidly advancing and can be hard to get a handle on. Some organizations may also view IoT as an expensive “nice-to-have.” The truth is that not investing in IoT can result in tremendous waste, costs, loss of goodwill, and competitive disadvantage. To achieve FM goals, IoT is a “must-have.”

Continue reading the article

New Facility Management Software

First Look: Monnit-FM

Only 30% of facility managers (FM) use FM software to track and optimize their performance in any meaningful way.* Would you like to learn more about Monnit’s upcoming software platform targeted at facility management? If so, please click here to send an email to our team. We will reach out to you with more information about Monnit-FM.

*Forrester Research

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