4 Ways to Reduce Costs with Smart Building Technologies

The world seems to move a little faster every year, and businesses need to adapt to keep up. There is a delicate balance between optimizing operations and minimizing costs, but more technologies are being invented to help you work smarter, not harder. Smart building technology is one of the top game changers in terms of achieving this balance. 

So, what’s a smart building? A smart building is any building that utilizes sensors to gather data and automate procedures for operations like heating, ventilation, air conditioning, lighting, and security. When you gather this data and use it to make strategic decisions, you can fine-tune your operations while keeping costs down. 

If you own or rent a building for your business, then you can benefit from leveraging building automation, the Internet of Things (IoT), and data analytics in four key ways to minimize costs and keep your company or organization moving forward. 

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#1: Using Data Analysis to Streamline Building Utilization

With hybrid workplaces, many office buildings are no longer utilized to their full capacity on a daily basis. Smart building technologies and data analysis can help you identify those locations. Then, you can make strategic decisions about whether to downsize to a smaller building or discontinue a lease. 

Advanced occupancy IoT sensors can even help you optimize energy consumption and minimize wasted resources by identifying:

• Peak usage times
• Foot traffic
• Occupancy

When you put this data to work, you can know when to turn the lights on and off, how long to run the air conditioner, the best times to perform maintenance, and how often to schedule your security personnel.  

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#2: Smart Building Technologies for Temperature Control

Your office building is probably too cold or too hot. Smart building technology and data analytics can help you optimize energy costs. Smart sensors like IoT devices can identify: 

• Temperature
• Humidity
• Air quality

Then, the device transmits that data to your HVAC system to moderate the air conditioner for maximum efficiency. Temperature control can also lead to enhanced employee productivity and morale, which can positively impact operations.

Beyond the office, hotel guests frequently leave the air conditioner on or windows open, adding to overhead costs for the building. With smart building technology, HVAC systems can automatically turn themselves off once a set temperature is reached or the room is empty. This prevents the air conditioner from needlessly running all day and night.

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#3: Smart Building Lighting Systems and Electricity Controls

Automatic lights are one of the most popular smart building technologies. They turn on when an occupant enters the room, then turn off when they no longer detect motion. Today, this familiar technology has come a long way. 

Data analytics can now help identify patterns in lighting usage, enabling you to optimize lighting schedules further. While improving the user experience of your customers and employees, this technology also helps to prevent lights being left on overnight increasing the electricity bill. 

Another crucial component of smart building lighting systems is the use of energy-efficient light sources. These can further enhance energy savings and boost your company’s sustainability efforts in the process. Some examples include:

• LED lights: Light Emitting Diode (LED) lights are known for their energy efficiency and longevity, reducing the need for frequent replacements.
• Solar-powered lights: These lights harness the power of the sun during the day and store it in batteries for use during the night, offering a sustainable solution for outdoor lighting.
• Daylight harvesting systems: These systems use natural lighting whenever possible, reducing your building’s reliance on artificial lighting and further contributing to cost savings.

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#4: Leverage IoT Solutions for Preventative Maintenance

In many industries, certain components need to be checked often to ensure they’re working correctly. This is typically done by a member of the maintenance team or an outsourced contractor. IoT solutions can automatically monitor the health of various building components, such as: 

• Elevators
• HVAC units
• Security systems 
• Smoke sensors and alarms
• Manufacturing equipment

These sensors can detect whether the components are working without anyone needing to physically be there. Plus, these sensors can detect anomalies and send alerts when maintenance is required. 

By addressing possible issues proactively, you can save on repair costs while extending the lifespan of your equipment. It also means that you only need to send someone when maintenance is actually required, instead of simply making the rounds. 

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Cost vs. Cost Savings of Smart Building Technology

It’s clear that automating your building can free your time and minimize costs. But how does that compare to the costs associated with installation? 

Many new buildings are being erected with smart technologies already included. However, already-existing buildings can easily be retrofitted to benefit from building automation, IoT, and data analytics. 

Energy harvesting technologies offered by Skylytics are wire-free and battery free, which means no need to run a new wire to connect them. Simply stick them on the wall. They also utilize renewable energy sources, like solar power, to operate without batteries that need to be consistently changed. 

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We’ll work with you individually to create a custom solution for your building and your business’s specific needs. This includes a personalized dashboard where you can view all your data in one convenient place. 

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Consult with Skylytics Today

Building automation, IoT, and data analytics provide an opportunity for businesses to minimize operational costs while enhancing overall performance. 

Simply by understanding space utilization, optimizing temperature control, and managing lighting and electricity usage, you can make substantial reductions in overhead costs. Additionally, IoT sensors allow you to act proactively with repairs without needing to manually check building components.

Skylytics offers advanced solutions that seamlessly integrate into your existing infrastructure to help you keep your building costs from going through the roof. Contact us to learn how we can make your building smarter today!

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