CRE & the Quest for the Rosetta Stone: The All-in-One 3D Data Platform
The Race to 'Go 3D' is On! It seems like every building owner, corporate real estate director or smart campus operator I meet these days is trying to develop a 3D data platform strategy to consolidate all of their building and project data portfolio-wide, but they just don’t know how to get there.
Has this not been the Quest for the Holy Grail for many years? Wouldn’t it be amazing if it were all just there at your fingertips: all your project data for all of your buildings everywhere – facilities, energy, and security data, along with all the project data, BIM, CAD, IoT, legal, leasing, financial, you name it – uniquely visualized in an easy-to-use 3D Google Earth-like tool so any user could easily search for and understand any aspect?
The Challenge: Too Many Tools, Too Many Data Formats, and Too Little Actionable Intelligence for the Portfolio
The benefits of aggregating, visualizing, and analyzing large amounts of Big Data are now well understood in the real estate industry, impacting functions that range from building management, to tenant services, to market analysis. Owners specifically acknowledge that Big Data analyzed correctly leads to increased transparency in the markets, risk mitigation, data standardization across real estate assets, and general better decision making. The challenge is that the increase in data sources and volumes has given rise to a dramatic increase in new proprietary expert tools and new data formats at the same time. These range from 3D data – or spatial data (BIM models, BMS/IoT sensors) – to non-spatial data (spreadsheets, reports, CAD dwgs, GIS, Social Media). Put simply, today’s challenge for Building Owners isn’t just to aggregate data, but to aggregate spatial and non-spatial data, and to do that they need a robust 3D data platform.
At Cityzenith, we’ve been developing the Smart World Pro platform to help owners break the Great Data Barrier in the building industry today that has kept them in the dark for so long. We are actively working with industry leaders and other institutions to develop a common 3D ‘BIM-lite’’ or FIM (i.e., Facilities Information Model) approach that enables them to digitize all their building assets to one common 3D earth model standard, and then connect any type of live or historical data to those models, all in real-time. FIM models differ from BIM models, and are simpler in geometry (rooms, floors, major equipment/structure, skin) but more complex on the data backend, ingesting data from hundreds of file formats. Features inside Smart World allows users to import and curate any data set of their own; ask questions and run complex searches; and run various analyses that range from line-of-sight and shadow studies to advanced environmental and traffic impact simulations.
What Kind of Data Can Be Visualized and Analyzed?
Users can aggregate and import hundreds of file formats, and then curate and index those files to suit their individual needs. They can navigate to any piece of information anywhere in an instant, see the results of analysis, and share the outcomes with peers. Owners are looking for better answers to questions like these:
- Energy Management:
What Is the End Value to Owners?
- More accurate forecasts and predictions
- Operational transparency
- Identifying unknown potential across the portfolio
- Faster and more comprehensive analysis
- Faster reactions by management
- Improved Customer Service
- More targeted leasing and sales efforts
Not a lot. And don’t worry if you don’t have BIM models of every building in your portfolio—almost no one does. It is easy and cost effective to create 3D models of existing assets from CAD, BIM, paper, LIDAR, and other building documentation, and ancillary data loading services are also available.
This Week’s Sponsor
At Connexxion®, we are industry leaders in providing intelligent data management and data visualization solutions to customers – from consumers and small businesses to large global enterprises. Our expertise is in helping secure, manage and visualize operational data. We developed the Connexxion® data management and data visualization platform to streamline and secure the integration of disparate data sources. Connexxion® transforms the ingested real-time data into actionable information and provides to our customers the ability to analyze and dynamically visualize their data and share their data with other solutions or applications.
UPCOMING REALCOMM WEBINARS
How Enterprise Systems and Third-Party Integrations are Influencing Investment Management During the Extreme Makeover of CRE Tech 5.0 - 1/25/2018
Realcomm 2017 focused heavily on the Commercial Real Estate evolution from CRE Tech 1.0 to 5.0. Nothing could be more evident of this extreme makeover than the pace at which our enterprise giants are introducing new functions and feature sets in the Investment Management space. When combined with the introduction of innovative SaaS third-party tools that integrate seamlessly with existing deployed systems, the feature-rich environment is transforming the technology landscape for investment managers. From fundraising and capital management, to buy/sell analytics, to the entire investor experience, these capabilities are empowering companies in entirely new ways. Join our fast-paced discussion to hear about the very latest innovative aspects of this digital transformation.
Scott current serves as the Industry Principal for Investment Management Solutions at Yardi Systems. He has almost 30 years’ experience working in the real estate software technology field and has been engaged by hundreds of real estate companies in selecting and deploying software technology. He started in financial and real estate technology consulting with the public accounting firm of Laventhal and Horwath, and went on to manage a real estate technology consulting practice for numerous years. Since then, Scott has worked for a number real estate software companies in various roles from consulting to develop to National/Institutional Account Management. He currently works for Yardi Systems assisting their Private Equity Real Estate clients create efficiencies with software technology in their front to back office operations.