Singapore) – MD Zach Wilson recently participated on a panel at one of the region’s largest Internet-of-Things (IoT) Symposiums – IoT Asia 2016 – to discuss how data analytics initiatives by leading organizations have positively impacted the bottom line. The panel was moderated by Dr. NG See Kiong, Programme Director, Urban Systems Initiative, Agency for Science, Technology and Research (A*STAR).
The panel commenced with participants discussing their favorite IoT success stories and how actionable data insights have led to decisions that have real dollar implications. Zach shared examples of how large US companies like AT&T and Intel are already saving millions of dollars in energy and space rental each year from occupancy analytics provided by the Enlighted IoT-based sensor networks deployed across their real estate portfolios. When asked how data analytics can be monetized and which companies will pay for analytics, Zach responded, “It’s not so much the question of which companies will pay for it. It is more about how you get to the person in the company who understands the value you are providing. At some point we need a champion in the C-level who understands that IoT-technology can drastically change the company’s operating expenses and eventually the share price in a positive way.”
Zach also provided interesting perspective around the pricing of the Enlighted solution. While integrating and automating your building systems for real-time demand response at $3 per square foot may seem expensive at the outset, Zach explained that “For the price of carpet you can unlock an invaluable wealth of data…or you can just have carpet to walk on. I have never understood the world’s fixation on CapEx while completely ignoring operating costs. We are really bad at net present value calculations even though it is taught in every finance 101 course in the world. It is a core skill, but no one does it, they just look at the size of the cheque on day one.”
Other topics of discussion involved IoT applications at the smart city level around accident reduction and traffic management; and in the healthcare industry for real-time health monitoring of patients and better fall statistics in hospitals.
Enlighted builds the world’s most advanced sensor networks for commercial buildings. Its first application – advanced lighting control – saves companies between 50% and 70% in lighting energy costs while tuning individual workspaces for the comfort and efficiency of its occupants. In addition to this, its elegant sensors cache real-time information on temperature and occupancy. The structured analytics, motion trails and heat maps derived from these data streams directly relate to energy and space use, employee productivity and security; enabling organizations to drive decisions that can directly impact the bottom line. For more information, please visit www.enlightedinc.com or e-mail Aakash Parekh at email@example.com