Until now, the promise of smart building technology was only achievable for large real estate companies with budgets of many millions of dollars. The Internet of Things IoT (in which a network of physical devices, appliances and software connect and exchange data to support automation) has been prohibitively complex and expensive for most building owners and facility managers to explore.
Technology used to power the Internet of Things (IoT) began as custom, proprietary systems. Adding connectivity meant wiring up buildings and replacing appliances. Installing sensors to collect data was costly and time consuming. And so, most commercial real estate (CRE) companies still use manual methods to collect and confirm the data they rely on to manage building temperature, layout, and maintenance schedules.
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