This article is an excerpt from Connected Real Estate Magazine - to see the full piece click here.
Toronto-based ThoughtWire has long recognized that the corporate and commercial real estate business model is changing, that tenants’ demands have become stronger than ever before and as a result has developed solutions to help commercial real estate owners enhance their tenants’ experience.
ThoughtWire focuses on operations’ performance management for the “built” environment and currently serves commercial real estate buildings as well as hospitals—two key built environments that position the company as a commercial Internet of Things (IoT) vendor. In its supportive operations and performance management roles, ThoughtWire helps orchestrate the data that comes from connected devices, systems and people in order to come up with process efficiencies.
“In commercial buildings today, we’re able to provide building operators with complete command over their building as an overlay,” ThoughtWire Chief Commercial Officer Franco Castaldini told Connected Real Estate Magazine. “So all sensors, building management systems, connected devices as well as other systems (can be used) to diagnose and respond to problems quicker.”
ThoughtWire’s solutions have helped building operators lower their operating costs by 88 cents a square foot. However, the company has seen more property owners attracted to its products because they want to improve their tenants’ experience. That is why the company has provided another application that uses the same data layer as its building operator app does. The application learns tenant behavior and uses that information to give them control of their environment as well.
“Tenant experience is a buzzword in today’s industry, and there are a lot of different interpretations in terms of how to best achieve a better experience for tenants.” Castaldini. “Our point of view on that is you have to reduce the friction between the operations of the building in support of the tenant experience. We achieve that by having two applications that utilize the same layer data so we can learn the tenants’ behavior, which informs the building management to adapt.”
By using the data ThoughtWire helps bring to the forefront, property owners not only learn about their tenants, but also how the building and its subsystems are performing.
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