Given the current rate of technological development, this is both an exciting and frustrating time to be a real estate company. The technology now exists to start building the smart cities of the future. But when it comes to leveraging smart benefits in your own real estate portfolio—including sustainability, well-being, productivity, and better business—reliance on third party interfaces is a huge roadblock.
Real estate companies need to control their own data
For every smart solution a property owner develops today, around 70 percent of resources are used to track down the right data and only 30 percent is left over for actually making something happen.
The central challenge boils down to the fact that the majority of property systems are built from the system supplier’s perspective. They are closed, and property owners cannot access their data and create smart solutions without jumping through the hoops of the supplier’s interface.
Adding to the frustration is that each system operates in a silo, solving tasks independently, so data cannot be combined or exchanged between different systems. Furthermore, every time something changes in the underlying system, results become flawed and an unnecessarily complicated process must be carried out to get everything right again. It’s an expensive way to create a smart building—and it will become even more expensive as the amount of data exponentially increases.
The bottom line is that in order to unlock smart benefits of smart buildings—and prepare buildings to be ready and able inhabitants of the smart city—property owners need to have control over all of the data connected to their buildings.
A common language is the key to becoming a smart city
Luckily, a solution already exists that property owners can utilize to take control over their data today. And it’s called RealEstateCore. Developed in 2017 and backed by a consortium of property owners and smart city enthusiasts, RealEstateCore is an open-source semantic language that prepares buildings to interact with one another in the smart cities of the future.
When property owners have access to this shared language, they are able to connect their buildings with new services and possibilities on a large scale—without having to worry about the constraints of third party supplier interfaces, and other building or technology-specific implementation details and formats.
Idun enables the smart city ecosystem
Once you have control over your data, you are ready to start benefiting from the smart city ecosystem of applications. In the old world, all smart solutions had to be purchased from the same system provider. We at Idun envision a new world where property owners have access to an ever-expanding ecosystem of applications so they can always leverage the latest smart possibilities and optimizations—independent of proprietary systems.
We have already started contributing to this ecosystem with our vibrant set of integrated applications, powered by RealEstateCore, that enable property owners to transform their real estate portfolio into a platform for innovation, analysis, and optimization.
This is what you can do with Idun applications:
- Leverage the potential of your own building data
- Build and scale information processing capabilities
- Increase operational efficiency
Are you ready for the future? Contact us for a free consultation and personalized activity checklist.