In this Blog I want to talk about a company that absolutely impressed me. Rudin Management Company, Inc. is a real estate management company in New York City. The company is over hundred years old and is still privately owned by Rudin Family. Many would say that Real Estate business is the same as it was hundred years ago, main elements being purchase or construction of building and renting out the space. Few days ago I would most likely agree to this assumption, but as said before Rudin Management completely changed my perception.
Rudin Management over the years saw that something was missing in their real estate management; they would be able to manage their assets better and at the same time save more energy if they would have all building sensor information at one place and be able to control the entire property from the same place as well. However, the company realized that no such system existed on the market.
As a result company partnered with the global technology company Selex ES of Finmeccanica and created Di-BOSS™. Di-BOSS is the world’s first Digital Building Operating System. As the COO of the company John Gilbert mentioned “it is the brain of the building”. Rudin Management contributed their operational expertise in commercial real estate management, and their skills in energy efficiency to the partnership, while Selex ES contributed their expertise in software development and integration.
Di-BOSS is a platform, which gathers Big Data from all the sensors and services of the building and integrates them in real time. Applications are built on this platform; every new application enhances the main brain of the building. From elevator management to the fire alarm system, heating and cooling systems, security and building management systems, software systems come together in one place. Forecasting is a big part of the software. The machine learning algorithms use past data of each day of operation, weather conditions, along with the future weather forecasts to predict energy usage of the building in the future. Di-BOSS includes Tenant Portal as well. Tenant Portal allows tenants to see their individual energy consumptions, which greatly affects their behavior.
Di-BOSS was implemented in several buildings and effects are amazing. Payback period for the system from the building of more than 5000 occupants was 5.5 month. Company was able to save $ 505,000.00 only in one winter.
Conclusion that I want to give for this blog is that Big Data is changing face of every business. Businesses that existed for hundreds of years are affected as well. If you think that your business is exception you are wrong. If your company does not invest or doesn’t see the use of Big Data for business you are already falling behind the competition. I think that every officer of the company should be asking “how can I use Big Data to enhance my business?” Big data analytics is not a core competency of specific companies, which can be ignored by others. It is becoming a universal core competency, the one that every company should be fluent in.