Show Me the Money: IoT Style Part 2

By Mike Krell - January 20, 2015
In Show Me the Money: IoT Style Part 1 I discussed hardware and a company called CentraLite.  CentraLite provides “white box” solutions for home automation powerhouses such -- Lowe’s Iris, Comcast Xfinity, Time Warner IntelligentHome, and SmartThings just to name a few, and how CentraLite is generating revenues in the IoT hardware space.  Today I’m turning to hardware and software. A second company I have been interested in is Condeco Software.  Condeco’s main business is conference room and desk booking software for large multi-national corporations like Unilever, Shell, BP, Coca-Cola, GE, etc.  Again, as with CentraLite, what Condeco provides doesn't sound glamorous, and what does this even have to do with IoT? I have to tell you, listening to Condeco’s COO Martin Brooker tell the Condeco story, I began to understand.  We all know that real estate is often a huge cost in large businesses. Optimization of real estate can not only save in pure land costs, but savings in heating and cooling, electricity and other utility costs can be huge.  Now imagine you are a large multi-national, and someone tells you that 40% of the time you have a conference room booked the meeting never takes place…that’s right 40% of the time your company is wasting space and money.  Based on studies with Condeco’s clients, that’s the number they came up with.  Now think about how much money could you save by cutting your conference room space in half?  How does Condeco do this? Condeco Sense software   Condecos Sense hardware Condeco Sense Software & Hardware Meet the Condeco Sense, a workspace occupancy sensor.  From Condeco’s own website:  “Condeco Workspace Occupancy Sensor is a unique wireless sensor that continually and accurately measures your workspace. It provides a continuous flow of accurate data that helps you understand how desks, VC rooms and break out spaces are used on an hourly and daily basis. With clear, compelling data at your fingertips, you will be able to ‘right-size’ your real estate, reduce your energy bills and develop ongoing cost-saving initiatives.” Simply put, Condeco puts together a program for organizations in which they install sensors in conference rooms (or mobile desktop) environment and measure how often the conference rooms are actually used.  They already know if rooms are booked (go back to Condeco’s original business).  Using gathered sensors and analytics, Condeco can show you what is really going on with your space and how it’s really being used.  If you are responsible for a large single facility, or a number of facilities around the world, this type of information can save you millions of dollars yearly.  Consider what Martin says is a typical call for him:  ”Hi, I’m XXX the COO of YYY and I’m going to be moving approximately 80,000 people in the next couple years and I need to make sure I’m optimizing my office transient desk space and my conference room space.  Can you help me?”.  Real IoT applications that make, or save, real money, today.
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